MedPlus Health IPO opens today; 10 Key points to note before subscribing
MedPlus Health Services, the second-largest pharmacy retailer in India, is eyeing to mop up Rs 1,398.29 crore via the primary route. The IPO comprises fresh issuance of equity shares worth 600 crore and an offer for sale (OFS) of up to equity shares aggregating up to ₹798 crore by the promoter and existing shareholders.
Date: MedPlus IPO subscription to start from today Dec 13 to Dec 15, 2021
Price band: The price range for the offer has been fixed at Rs 780 – 796 per share.
IPO Lot size: Investors can bid for a minimum of 18 equity shares and in multiples thereof. At the upper end of the price band, one lot is worth Rs 14,328 and a maximum of 13 lots, i.e. 234 equity shares and its worth Rs. 1,86,264
Grey market premium: As per the sources, the Medplus IPO is trading at a premium of Rs 300 per shares in the grey market [Also Read: Meduplus IPO GMP ]
Fund utilisation: MedPlus will use the IPO for Investment into the Material Subsidiary, Optival for funding working capital requirements of Optival
Investor categories: Fifty percent of the issue size has been reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors, and 35 percent for retail investors.
Peers: As per the Medplus IPO RHP, there are no listed companies in India that comparable in all aspects of business and services that Medplus provide.
MedPlus Health IPO Lead managers: Axis Capital, Credit Suisse Securities (India), Nomura Financial Advisory and Securities (India) and Edelweiss Financial Services are the book running lead managers to the issue.
Registrar KFin Technologies Private Limited is the Registrar for this issue.
Financials: MedPlus reported a profit of Rs 631.11 million for FY21, up from just Rs 17.94 million in FY20. Revenue during the same period increased to Rs 30,908.14 million from Rs 28,878.87 million.
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