Healthcare Financial News

Medikabazaar, India's largest B2B e-commerce marketplace for medical supplies, is gearing up to raise $150-$200 million from private equity investors to fund expansion through acquisitions and organic growth. «We are actively seeking another substantial round of investment to fuel our expansion,» said Vivek Tiwari, co-founder and CEO of Medikabazaar, in an interview to ET.

Lupin (at 8% YoY) and Dr Reddy’s (at 6% YoY). “We expect the highest growth rate for Torrent pharma (+16% YoY) due to Curatio acquisition and Cipla (+12% YoY) and lowest for Lupin (+8% YoY) and Dr Reddy’s (+6% YoY). We expect India business to witness some gross margin improvement on benign RM (raw material) costs and seasonality impacts," it added.

WhiteOak Capital Mutual Fund announced the launch of the WhiteOak Capital Pharma and Healthcare Fund, an open-ended equity scheme investing in the pharma and healthcare sector. The scheme opened for public subscription on January 16, 2024, and will close on January 30, 2024.

In the ever-evolving landscape of healthcare education, Dr. Akram Ahmad, founder and CEO of Academically, is spearheading a transformative shift.

Medi Assist Healthcare is yet to sail through, but the issue gained some momentum on Tuesday, the second day of bidding with an overall subscription of 81% so far. The issue closes on Wednesday. The retail portion of the issue was fully subscribed, followed closely by the NII category at 70%.

₹397-418 per share for the issue. GMP: Shares of Medi Assist Healthcare have been available for trade in the grey market since the weekend. The company's shares in the grey market continued trading at a premium of ₹38, indicating a 9 percent premium versus the IPO price at listing.

National Startup Day on January 16, key figures in the startup ecosystem shared insights on the challenges and opportunities for entrepreneurs in India. Startups in India grapple with several challenges, including the critical issues of talent acquisition and retention as they strive to build and scale their teams, said Mahankali Srinivas Rao, CEO of T-Hub, India's leading startup incubator and Startup Odisha, Odisha government's startup vertical.

Also Read: Medi Assist Healthcare Services IPO: Issue subscribed 54% on day 1; GMP sharply drops On day 1, Medi Assist Healthcare Services IPO's retail investors portion was subscribed 89%, Non Institutional Investors (NII) portion was subscribed 45%, and Qualified Institutional Buyers (QIB) portion is yet to be booked. Medi Assist Healthcare Services IPO raised ₹351.47 crore on Friday, January 12, allotting 84,08,449 equity shares to 35 anchor investors.

₹449.75 in early trade on Tuesday, January 16 a day after the company's announcement regarding dividend payment. Aster DM Healthcare share price opened at ₹448.10 against the previous close of ₹398.85 and soon jumped 12.8 per cent to the level of ₹449.75 on Tuesday.

F&O ban list: A total of fifteen stocks have been put under the ban for trade on Tuesday, January 16, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

Aster DM Healthcare on Monday said it would consider paying Rs 110-120 as dividend to shareholders from the proceeds after the sale of majority stake in GCC (Gulf Cooperation Council) business. Aster had earlier announced that it will separate its India and gulf businesses in a $1-billion deal. The sale is expected to be completed by the March quarter. The board of directors held a meeting earlier on Monday to discuss the progress of the transaction between Affinity Holdings and Alpha GCC Holdings for segregation of the company’s GCC business. «The Board was briefed that there has been satisfactory progress on conditions precedent for the transaction and Affinity and the buyer are aiming to complete the transaction soon,» the company said in a filing. The company will get $1.001 billion from the proposed sale, of which $903 million will be paid at closing. About $98.8 million may be received subsequently subject to certain contingent events, which includes an earnout of up to $70 million based on EBITDA achieved by the GCC business for FY24. Following deliberations regarding future expansion plans, capex requirements, cash reserves, the Board has expressed its desire to consider distribution of 70-80% of the upfront consideration of $903 million, as dividend to its shareholders.

₹110 to ₹120 per share." Last year, the company announced that its subsidiary would sell its stake in Aster DM Healthcare FZC to Alpha GCC for $1.01 billion, which it will use to fund its growth. “One of the reasons for the segregation of the India and GCC business was for the company to exit the GCC region…Having exited the GCC market after a long and thought-through process involving multiple advisors, the company has no intention to re-enter the same GCC market to expand its business," the company added in a statement.

Max Healthcare Institute, Tata Motors, Hindalco Industries, HDFC AMC, L&T Technology Services. However, it has removed Ashok Leyland / HDFC Life Insurance from the model portfolio and the maximum weight cut has been in Avenue Supermarts, Hindustan Unilever and TCS.

On a month-on-month basis, the pace of redemptions spiked by 48.9% to reach Rs 38,900 crore in December taking net inflows to Rs 17,700 crore during the month. It was a marginal uptick from Rs 16,900 crore in November 2023. Notwithstanding the trend, the domestic MFs’ equity asset under management (AUM) rose for the 10th consecutive year to reach Rs 23.8 lakh crore, which was up 43% YoY in CY23.

J.B. Chemicals & Pharmaceuticals share price has seen more than 70% gains during last one year. J.B.

WhiteOak Capital Banking & Financial Services Fund, WhiteOak Capital Pharma and Healthcare Fund, SBI Nifty50 Equal Weight Index Fund, Old Bridge Focused Equity Fund, Groww Banking & Financial Services Fund, and Motilal Oswal Large Cap Fund will open for subscription later this week.

₹397 to ₹418 per equity share. The book build issue is proposed for listing on BSE and NSE. Medi Assist Healthcare IPO is a book built issue of ₹1,171.58 crore.

Bandhan Bank, Bharat Heavy Electricals (BHEL), Chambal Fertilizers & Chemicals, Delta Corp, Escorts Kubota, Hindustan Copper, The India Cements, Indus Towers, Metropolis Healthcare National Aluminium Company, Piramal Enterprises, Polycab India, PVR Inox, Steel Authority of India (SAIL) and Zee Entertainment Enterprises (ZEEL). Indian Energy Exchange (IEX) has moved out of the ban. The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban. The MWPL for Bandhan Bank stood at 89.3% on Friday with OI reported by Trendlyne at 99.6 million.

IPO) of Medi Assist Healthcare opens for subscription today. The issue, which closes on January 17, is completely an OFS of 2.8 crore shares. Ahead of the issue launch, the company has raised Rs 351 crore from anchor investors. Prominent names who participated in the anchor round include Nomura, Goldman Sachs, Pinebridge Global, Troo Capital and HSBC. The company will not receive any funds from the IPO since it is completely an OFS and the entire proceeds will go to the selling shareholders. Medi Assist Healthcare provides third party administration services to insurance companies through its wholly owned subsidiaries. A third party administrator is an organization that processes health insurance claims for insurance companies and provides services such as policy administration, customer service and network management, among others. Some of the company's strengths include a well established business model, scalable technology-enabled infrastructure, longstanding relationships with the majority of insurance companies and experienced management team and marquee shareholders. Read more: IPOs this week: Medi Assist Healthcare, 2 SME issues on the radar for investors

Medi Assist Healthcare IPO: The mainboard initial public offering (IPO) of the insurance-tech company has opened today and it will remain open till 17th January 2024. The company is a third-party administration (TPA) services provider to insurance companies and offers medical insurance and cashless hospitalization through a network of healthcare service providers. The insurance-tech company has fixed Medi Assist IPO price band at ₹397 to ₹418 per equity share.

F&O ban list: A total of fifteen stocks have been put under the ban for trade on Monday, January 15, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE.