Medi Assist: No Deviation in Preferential Issue Fund Utilization for Q1FY27
Medi Assist Healthcare Services Limited reported no deviation in the utilization of ₹198 crore raised via Preferential Issue for the quarter ended June 30, 2026. ₹148.40 crore was used for subsidiary debt repayment and ₹4.72 crore for stake acquisition in UK subsidiary. Total utilization stands at ₹153.12 crore.
This announcement pertains to the utilization of funds from a past preferential issue, indicating adherence to regulatory requirements and planned business activities. While positive, it does not represent new growth drivers or significant financial performance changes.
The company reported no deviation in the utilization of funds raised through a Preferential Issue, which is a positive sign for investors and regulatory compliance.
Medi Assist Healthcare Services Limited has submitted its Monitoring Agency Report for the quarter ended June 30, 2026, concerning the utilization of funds raised through a Preferential Issue. The report, issued by CARE Ratings Limited, confirms that there has been no deviation or variation in the utilization of the ₹198 crore raised.
During the quarter, ₹148.40 crore was utilized for investment in the wholly-owned subsidiary, Medi Assist Insurance TPA Pvt. Limited, for debt prepayment/repayment. Additionally, ₹4.72 crore was used for acquiring an additional stake in its subsidiary, Mayfair We Care Limited, UK, under general corporate purposes as approved by the board.
The company clarified that proceeds from mutual fund investments amounting to ₹7.50 crore were credited to the monitoring account on June 29, 2026, and subsequently transferred to the company's current account. Out of this, ₹4.72 crore was debited on June 30, 2026, for the approved purpose, with the balance ₹2.78 crore debited on July 1, 2026. The funds lying in the current account were used solely for approved purposes. The Audit Committee and Board of Directors reviewed the statement and confirmed no deviation.
The total funds utilized as of June 30, 2026, amount to ₹153.12 crore, with an unutilized balance of ₹44.88 crore. A significant portion of the unutilized funds, ₹2.78 crore, was parked in the company's current account pending utilization and was utilized on July 1, 2026.
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