Monday, June 27, 2022

    MedPlus Health Services IPO booked 53 percent on first day, retail investors’ shares full

    New Delhi. Pharmacy retail chain MedPlus Health Services Limited’s IPO (MedPlus Health Services IPO) is open for public subscription today, December 13, 2021. The day before the IPO opening (IPO opening day) 53 percent subscribed. The portion reserved for retail investors is 101% subscribed (retail portion is fully booked).

    The company has reserved 1 percent for its employees. Of this, tenders have been received for 19 percent shares. Proceeds from the public offering will be used to meet the working capital requirements of the company’s subsidiary Optical. Please note that the IPO will close on December 15th.

    How much is the price band of the stock kept?
    MedPlus Health has set a price band of Rs 780-796 for the sale of its initial shares of Rs 1,398. The IPO has an offer for sale (OFS) of Rs 600 crore fresh equity shares and Rs 798 crore shares of promoters and existing shareholders. MedPlus was founded in 2006 by Gangadi Madhukar Reddy, managing director and chief executive officer of the company. MedPlus is the second largest pharmacy retailer in India in terms of revenue from activity in FY21 and number of stores as of March 2021.

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    The promoters have 43% stake in the company
    MedPlus Health offers a wide range of products, including home and personal care products, such as pharmaceutical and wellness products and FMCG products. Promoters Gangadi Madhukar Reddy, Agilmed Investments and Lone Furo Investments have 43.16 per cent stake in the company. Reddy recently said that the growth of a company depends on its sales and how many stores it adds each year. “Despite Covid, we added 350 stores in 2020,” he said. In the second wave of Covid this year, 350 stores were added in the first half, despite a two-month lockdown.

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    MedPlus Health’s revenue has grown well
    “We will add a total of 700 new stores this year,” Reddy said. The retail chain is also focusing on increasing sales from private label products. MedPlus has earned Rs 63.11 crore in the financial year 2021. In the financial year 2020, the company’s profit was only Rs 1.79 crore. The company’s revenue rose to Rs 3,069.26 crore from Rs 2,870.6 crore during the period Chief Manager of Issues Axis Capital, Credit Suisse Securities India, Edelweiss Financial Services and Nomura Financial Advisory & Securities India.

    Tags: Business News in Hindi, Make money, IPO, The stock market, In the stock market


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