BSECompany Update20h ago · 30 Oct 2026, 07:24 pm

As enclosed

Medi Assist Healthcare Services Ltd · 544088

✦ AI SummaryFundraise

Medi Assist Healthcare Services Ltd has filed a statement of deviation or variation in the utilization of funds raised through a Preferential Issue for the quarter ended September 30, 2026. The company has confirmed that there has been no deviation or variation in the utilization of funds from the objects stated in the explanatory statement to the notice for the Preferential Issue. The Monitoring Agency Report issued by CARE Ratings Limited has been enclosed.

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Earnings Impact5/10
Growth Catalyst2/10
Governance Concern1/10
Regulatory Risk3/10
Balance Sheet Risk2/10
Liquidity Impact8/10
Market Sentiment5/10

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Medi Assist Healthcare Services Ltd - 544088 - Compliances-Statement Of Deviation & Variation For The Quarter Ended September 30, 2026

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October 30, 2026 To, To, Listing Department Department of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra-Kurla Complex, Phiroze Jeejeebhoy Towers, Dalal Street, Bandra (East), Mumbai – 400 051 Mumbai – 400 001 Symbol: MEDIASSIST Scrip Code: 544088 Dear Sir/ Madam, Sub: Statement of deviation or variation in utilisation of funds raised through Preferential Issue for the quarter ended September 30, 2026 and Monitoring Agency Report issued by CARE Ratings Limited Pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing the statement of deviation or variation regarding the utilization of funds raised through Preferential Issue for the quarter ended September 30, 2026. The said statement has been reviewed by the Audit Committee and Board at their meeting held on October 29, 2026 and October 30, 2026 respectively. We are also enclosing the Monitoring Agency Report issued by CARE Ratings Limited, appointed to monitor the utilization of the proceeds. Furthermore, we confirm that there has been no deviation or variation in the utilization of funds from the objects stated in the explanatory statement to the notice for the Preferential Issue. We request you to take the above information on record. For Medi Assist Healthcare Services Limited Rashmi B V Company Secretary & Compliance Officer Membership No: A38729 Encl.: As above Statement on deviation / variation in utilisation of funds raised Name of the listed entity Medi Assist Healthcare Services Limited Mode of Fund Raising Preferential Issue Date of Raising Funds October 10, 2025 Amount Raised INR 1,98,00,35,000/- Report filed for Quarter ended September 30, 2026 Monitoring Agency Applicable Monitoring Agency Name, if applicable CARE Ratings Limited Is there a Deviation / Variation in use of funds raised There is no deviation/variation in use of funds raised yes, whether the same is pursuant to change in terms of a contract or Not applicable objects, which was approved by the shareholders If Yes, Date of shareholder Approval Not applicable Explanation for the Deviation / Variation Not applicable Comments of the Audit Committee after review No comments Comments of the auditors, if any No comments Objects for which funds have been raised and where there has been a deviation, in the following table Original Objects Modified Original Modified Funds Amount of Remarks, Object, if any Allocation allocation, Utilised Deviation/ if any (Rs. In if any (Rs. In Variation for Crores) Crores) the quarter according to applicable object For undertaking investment in Medi Assist Not Applicable 150.00 None 148.40 None Not Applicable Insurance TPA Pvt. Limited, a wholly-owned material subsidiary of the Company (“Subsidiary”), in the form of equity/ quasi equity, debt/ loan instruments, which will be utilized by the Subsidiary to prepay/repay, in full or part, all or a portion of certain outstanding borrowings availed by the Subsidiary from banks, nonbanking finance companies and other lenders, if any. (Investment in Subsidiary for Debt Prepayment/ Repayment) Up to 25% (twenty-five percent) of the Issue Not Applicable 48.0035 None 7.57 None Of the ₹7.50 crore mutual fund proceeds transferred Proceeds will be utilised for general to the company’s current account in Q1FY27, ₹4.72 corporate purposes, which includes, inter crore was u(cid:415)lized towards the acquisi(cid:415)on of alia, meeting ongoing general corporate addi(cid:415)onal stake in Mayfair We Care Limited, UK on exigencies and contingencies, expenses and June 30, 2026. The balance amount of ₹2.78 crore investments of the Company as applicable in was u(cid:415)lized towards the said acquisi(cid:415)on on July 01, such a manner and proportion as may be 2026 i.e., Q2FY27. The company spent cumula(cid:415)ve decided by the Board from time to time, ₹7.57 crore (including ₹0.07 crore from own funds) and/or any other general purposes as may towards the acquisi(cid:415)on of addi(cid:415)onal stake in the be permissible under applicable laws subsidiary (cid:415)ll July 01, 2026. (General Corporate Purposes) ₹0.07 crore of own funds used for acquisi(cid:415)on, were subsequently reimbursed by the company by way of redemp(cid:415)on of ₹0.02 crore from mutual funds and transfer of unu(cid:415)lized balance of ₹0.05 crore which was lying in the subsidiary’s current account to company’s current account on July 9, 2026 and July 14, 2026, respec(cid:415)vely. Since the company’s current account re(cid:327)ected other debit and credit transac(cid:415)ons, u(cid:415)liza(cid:415)on is veri(cid:302)ed based on CA cer(cid:415)(cid:302)cate, management cer(cid:415)(cid:302)cate and relevant bank statements. TOTAL - 198.0035 - 155.97 - - Devia(cid:415)on or varia(cid:415)on could mean: a) Devia(cid:415)on in the objects or purposes for which the funds have been raised or b) Devia(cid:415)on in the amount of funds actually u(cid:415)lized as against what was originally disclosed or c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, le(cid:425)er of o(cid:299)er, etc. The funds raised were transferred from the escrow account to the bank account of the Company in two tranches on December 30, 2025 and December 31, 2025. For Medi Assist Healthcare Services Limited Rashmi B V Company Secretary & Compliance Officer Membership No: A38729 No. CARE/ARO/GEN/2026-27/1206 The Board of Directors Medi Assist Healthcare Services Limited AARPEE Chambers, SSRP Building, 7th Floor, Andheri Kurla Road, Marol Co-operative Industrial Estate Road, Gamdevi, Marol Bazar, Andheri East, Mumbai, Maharashtra 400059 October 30, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended September 30, 2026 in relation to the preferential issue of Medi Assist Healthcare Services Limited (“the Company”) We write in our capacity of Monitoring Agency for the preferential issue for the amount aggregating to Rs. 198.00 crore of the Company and refer to our duties cast under 162A of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended September 30, 2026 as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated September 15, 2025 and January 09, 2026. Request you to kindly take the same on records. Thanking you, Yours faithfully, Komal Israni Assistant director Komal.israni@careedge.in Report of the Monitoring Agency Name of the issuer: Medi Assist Healthcare Services Limited For quarter ended: September 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: Nil (b) Range of Deviation: Not applicable Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensat [Showing first 8,000 characters — download PDF for full document]