Medi Assist Healthcare Services Limited has submitted its quarterly compliance report for fund utilization under Regulation 32 of SEBI regulations, confirming adherence to the stated objectives of its preferential issue for the quarter ended December 31, 2025.

Fund Raising and Utilization Overview

The company successfully raised INR 198.00 crore through a preferential issue on October 10, 2025. During the quarter under review, the company deployed INR 148.40 crore toward its primary objective of investing in its wholly-owned subsidiary, Medi Assist Insurance TPA Pvt. Limited, for debt prepayment and repayment purposes.

Fund Allocation and Deployment

The preferential issue proceeds were allocated across two primary objectives. The major portion of INR 150.00 crore was designated for investment in the subsidiary for debt prepayment and repayment, while INR 48.00 crore was earmarked for general corporate purposes.

Unutilized Funds Management

The company has deployed the unutilized proceeds of INR 49.60 crore in liquid mutual funds to generate returns while maintaining liquidity. The funds are invested across four different liquid funds, each earning a return of 0.48%.

Regulatory Compliance and Monitoring

CARE Ratings Limited, appointed as the monitoring agency, has issued its report confirming no deviation from the stated objectives. The monitoring agency verified that all utilization aligns with the disclosures made in the offer document and the extraordinary general meeting resolution dated September 04, 2025.

The company's Audit Committee and Board of Directors reviewed the fund utilization statement at their meeting held on February 06, 2026, with both providing no adverse comments on the deployment of proceeds. The funds were transferred from the escrow account to the company's bank account in two tranches on December 30, 2025, and December 31, 2025.

Corporate Governance and Transparency

The company has maintained full transparency in its fund utilization reporting, with Company Secretary Rashmi B V confirming compliance with all regulatory requirements. The monitoring agency's report indicates that no government or statutory approvals were required for the stated objectives, and no unfavorable events have affected the viability of the fund utilization plans.

The company has a two-year timeline for complete utilization of the raised funds, with the current deployment progressing as per the originally disclosed timeline without any delays in implementation.

Medi Assist Healthcare Services Limited has informed stock exchanges about the board approval for a merger between two of its wholly owned subsidiaries. The company filed the disclosure under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Merger Details and Structure

The Board of Directors approved the Scheme of Amalgamation of International Healthcare Management Services Private Limited (IHMS) with Mayfair Consultancy Services India Private Limited (MCSI) on February 06, 2026. Under this arrangement, IHMS will serve as the transferor company while MCSI will be the transferee company.

The board meeting commenced at 02:00 p.m. (IST) and concluded at 05:15 p.m. (IST) on February 06, 2026.

Financial Profile of Merging Entities

Both subsidiaries operate in the healthcare and insurance ecosystem, providing back-office, administrative, data processing, and consultancy services. The financial details as of March 31, 2025 show the scale of operations for both entities.

Strategic Rationale and Benefits

The merger aims to deliver multiple operational and financial benefits. The consolidation will enable seamless access to assets including intangible assets, licenses, and intellectual properties, leading to operational synergies and reduced overheads.

Key anticipated benefits include:

• Streamlined group structure with reduced legal and regulatory compliance requirements
• Cost savings through focused operational efforts and resource rationalization
• Efficient utilization of common resource pools across human resources, administration, finance, and technology functions
• Enhanced cash management and optimized deployment of financial resources for growth opportunities

Transaction Structure and Impact

The merger involves no cash consideration. Upon the scheme becoming effective, the entire share capital of IHMS held by Medi Assist Healthcare Services will be cancelled and extinguished without requiring surrender of shares. The investment in IHMS shares appearing in the parent company's books will stand cancelled automatically.

Since both entities are wholly owned subsidiaries and the parent company is not a direct party to the merger scheme, there will be no change in Medi Assist Healthcare Services' shareholding pattern. The transaction falls under related party provisions but is exempt under Regulation 23(5)(b) of SEBI Listing Regulations and does not require compliance with Section 188 of Companies Act, 2013 as per MCA General Circular No. 30/2014.