MedPlus IPO to open on Dec 13 at ₹780-796 price band

Our Bureau | | Updated on: Dec 07, 2021
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MedPlus IPO will have fresh issuance of shares worth Rs 600 crore

Medplus Health Services Ltd will be launching its ₹1398 crore Initial Public Offering (IPO) on December 13, 2021 at a price band of ₹780-₹796 per equity share.

Disclosing this in a press conference on Tuesday, Gangadi Madhukar Reddy said since it's inception in 2006, MedPlus has now emerged as country's second largest pharmacy retailer with 2,165 stores in 200 locations across the country.

"About 45 per cent of our stores are in tier 2 and tier 3 locations and we have good experience in making them profitable," Reddy said.

The revenue per day per store on organised pharma retail is ₹30,000 to ₹50,000 as against ₹4,000 to ₹5,000 in the case store in unorganised stores with a gross margins of 17-24 per cent and 12-14 per cent respectively, he said.

MedPlus IPO investors can bid for at least 18 shares

The upcoming MedPlus IPO would comprise of fresh issuance of shares worth ₹600 crore and an offer-for-sale of shares worth ₹798.29 crore by selling shareholders.

Investors can bid for a minimum of 18 medplus shares and then in multiples thereof.

The issue is open for subscription till December 15, Wednesday.

Promoters Madhukar Reddy, Agilemed Investments and Lone Furrow Investments held 43.16 per cent shareholding in the company.

Published on December 07, 2021

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