US-based investment firm Wasatch Advisors LP has reduced its shareholding in medi assist healthcare Service Ltd through open market transactions, as disclosed in a regulatory filing under SEBI's takeover regulations. The transaction represents a minor reduction in the firm's stake in the healthcare services company.

Transaction Details

The shareholding change occurred through open market sales executed on March 10, 2026. The key transaction parameters are outlined below:

Company Share Capital Structure

Medi Assist Healthcare Service Ltd maintains its equity share capital structure as follows:

The company's shares are listed on both BSE (scrip code: 544088) and NSE (scrip code: MEDIASSIST), providing liquidity for such open market transactions.

Regulatory Compliance

Wasatch Advisors LP filed the mandatory disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure was signed by Dan Thuber, representing the firm, and formally communicated to both stock exchanges on March 11, 2026.

The firm confirmed that it does not belong to the promoter or promoter group of Medi Assist Healthcare Service Ltd. The transaction involved only shares carrying voting rights, with no encumbrances, warrants, or convertible securities involved in the sale.

About the Acquirer

Wasatch Advisors LP, based at 505 Wakara Way, 3rd Floor, Salt Lake City, UT 84108 U.S.A., continues to maintain a significant minority stake in the Indian healthcare services company despite the recent reduction. The firm's disclosure was authorized by Dan Thurber, V.P., General Counsel, ensuring compliance with Indian regulatory requirements for foreign institutional investors.

Medi Assist Healthcare Services Limited has concluded a GST search operation at its material wholly-owned subsidiary with a payment of ₹4.83 crores to the Department of Goods and Services Tax, Maharashtra. The company submitted its closing submission on March 2, 2026, bringing the search operation to a conclusion.

GST Search Operation Details

The Department of Goods and Services Tax, Maharashtra conducted a search operation under Section 67 of the Central Goods and Service Tax Act, 2017 at the Mumbai office of Medi Assist Insurance TPA Private Limited. The search commenced on February 16, 2026 and concluded on March 2, 2026.

Payment and Compliance Issues

The Department stated that Medi Assist TPA was liable for unpaid taxes due to supplier non-compliance and accrued interest on holdback amounts in customer invoices. The company made a payment of ₹4.83 crores representing the aggregate amount of unpaid tax and interest for all alleged liabilities.

Company's Position and Rights

Medi Assist TPA made the payment without prejudice to its rights and remedies under applicable law. The company has preserved its right to file appropriate representations and seek recovery. The payment was made strategically to avoid any penalty or additional interest charges while maintaining legal options.

Business Operations Impact

The company confirmed that business operations of Medi Assist TPA continue as usual. According to the disclosure, there is no material impact on the financials, operations or other activities of the company arising from this matter, except for the payment made. Medi Assist TPA will continue to extend support to the Department if required.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. This disclosure follows an earlier intimation dated February 17, 2026, when the search operation was initially announced. No formal order has been passed by the Department in relation to the search operation as of the disclosure date.