Medi Assist Healthcare Service, PB Fintech and Star Health & Allied Insurance have filed the Draft Red Herring Prospectus (DRHP) with the market regulator. The three IPOs aim to collect Rs.10,000 crore.
Medi Assist Healthcare Service, a third-party administrator has made an offer-for-sale (OFS) of up to 28.03 million shares in its DRHP. “Our company expects that listing of the equity shares will enhance our visibility and brand and provide liquidity to its existing shareholders”, stated the Company in its filing.
PB Fintech, which is the parent company of Policybazaar, an online insurance distributor has filed for a fresh issue aggregating up to Rs. 3,750 crore and an OFS of up to Rs. 2,267.5 crore. The company proposes to use the collections from the fresh issue towards enhancing brand visibility, business expansion, strategic investments & acquisitions and for general corporate purposes.
The offer filed by Star Health & Allied Insurance Company which is a private health insurer, comprises fresh issue (up to Rs.2,000 crore) and an OFS (up to 60.10 million shares). “Our company proposes to utilise the net proceeds towards augmentation of its capital base and maintenance of solvency levels.” filed the insurer.