Medi Assist Healthcare Services Limited , a key player in India's digital health sector, has successfully completed a significant capital raise through a preferential allotment of equity shares. The company has secured an investment of INR 198.00 crores from the Massachusetts Institute of Technology (MIT) and its affiliate, 238 Plan Associates LLC.

Investment Details

The preferential issue was priced at INR 535.00 per share, reflecting confidence in the company's value and future prospects.

Impact on Share Capital

As a result of this transaction, Medi Assist Healthcare Services has seen a notable increase in its paid-up equity share capital:

• Previous paid-up capital: INR 35.32 crores
• New paid-up capital: INR 37.18 crores

The total number of outstanding shares has also increased from 7.06 crore to 7.44 crore shares.

Corporate Governance and Approval

The preferential allotment received strong support from both the board and shareholders:

• Board approval: Secured
• Shareholder approval: 99.15% in favor at an extraordinary general meeting

Strategic Implications

CEO Satish V N Gidugu emphasized the strategic importance of this investment, stating that it reaffirms the company's mission to lead India's digital health transformation through AI-led health benefit solutions.

Recent Corporate Activities

This capital raise follows a series of strategic moves by Medi Assist Healthcare Services:

1. Acquisition of Fairfax-owned Paramount Health Services
2. Strategic collaboration with Star Health Insurance

These actions, coupled with the recent investment, indicate Medi Assist's commitment to expanding its footprint in the digital health sector and enhancing its service offerings.

The infusion of capital from prestigious institutions like MIT and its affiliate is likely to bolster Medi Assist's position in the competitive healthcare technology landscape, potentially accelerating its growth and innovation initiatives in AI-led health benefit solutions.

Medi Assist Healthcare Services Limited has taken a significant step towards ensuring transparency and compliance in its recent capital raising initiative. The company has appointed CARE Ratings Limited as the monitoring agency to oversee the utilization of proceeds from its preferential issue of equity shares.

Details of the Preferential Issue

The appointment follows an Extra-Ordinary General Meeting (EGM) notice dated August 11, 2025, where Medi Assist sought approval for issuing 37,01,000 fully paid-up equity shares on a preferential basis. This move is in line with the company's efforts to raise capital for its operations and growth plans.

Role of CARE Ratings

CARE Ratings Limited, a SEBI registered Credit Rating Agency with its registered office in Mumbai, will be responsible for monitoring the utilization of proceeds from the preferential issue. Their role will be crucial in ensuring that the funds are used in accordance with the objects disclosed in the EGM notice.

Regulatory Compliance

This appointment is in compliance with Regulation 162A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. It demonstrates Medi Assist's commitment to regulatory adherence and transparent financial practices.

Company's Statement

In an official communication to the stock exchanges, Medi Assist Healthcare Services Limited stated, "The Company has appointed CARE Ratings Limited... as the Monitoring Agency to monitor the utilization of the proceeds of the Preferential Issue in accordance with the objects, as disclosed in Paragraph I (Objects of the Issue) read with Paragraph II (Utilization of Issue Proceeds) of the Explanatory Statement annexed to the EGM notice."

Implications for Investors

The appointment of a monitoring agency provides an additional layer of assurance to investors. It ensures that the funds raised through the preferential issue will be utilized as per the stated objectives, enhancing transparency and accountability in the company's financial operations.

Medi Assist Healthcare Services Limited's proactive approach in appointing CARE Ratings as the monitoring agency reflects its commitment to good corporate governance practices and regulatory compliance. This move is likely to be viewed positively by stakeholders and could potentially boost investor confidence in the company's financial management.