Medplus Health Services Limited IPO Detail
Incorporated in 2006, Medplus Health Services is India's second-largest pharmacy retailer in terms of the number of stores and revenue. The company offers pharmaceutical and wellness products i.e. medicines, vitamins, medical devices, test kits, and fast-moving consumer goods i.e. home and personal care products, baby care products, sanitizers, soaps, and detergents, etc. It is also the first pharmacy retailer in India to offer an omnichannel platform wherein customers can purchase products through stores, place orders over the telephone, online orders, and a Click and Pick facility.
As of June 31, 2021, the company has a strong pharmacy retail network of 2,165 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal, and Maharashtra. In fiscal 2021, its share of the organized pharmacy retail based on revenue from operations in Chennai, Bangalore, Hyderabad, and Kolkata reported at 30%, 29%, 30%, and 22% respectively. It follows a cluster-based approach for store network expansion wherein it first opens high store density in a populated residential area within a target market. The company's warehouses are located in Bengaluru, Chennai, Hyderabad, Vijaywada, Kolkata, Pune, Bhubaneshwar, Mumbai, and Nagpur.
Competitive strengths
- Second largest pharmacy retailer company in India.
- Strong brand name and customer value proposition.
- Pharmacy retail outlet network of 2000+ stores in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal, and Maharashtra.
- First pharmacy retailer to provide Omni-channel platform to customers.
- Highly qualified, experienced, and professional management team.
Company Promoters
Gangadi Madhukar Reddy, Lone Furrow Investments Pvt Ltd, and Agilemed Investments Pvt LtdIPO Details
| IPO Opening Date | Dec 13, 2021 |
| IPO Closing Date | Dec 15, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹2 per equity share |
| IPO Price | ₹780 - 796 per equity share |
| Market Lot | 18 Shares |
| Min Order Quantity | 18 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹1,398.30 Cr |
| Fresh Issue | ₹600.00 Cr |
| Offer for Sale | ₹798.30 Cr |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.06x | - | - | 0.16x | 1.29x | 0.7x |
| Day 2 | 0.08x | - | - | 0.51x | 2.64x | 1.45x |
| Day 3 | 111.89x | - | - | 85.34x | 5.23x | 52.59x |
IPO Tentative Timetable
The Medplus Health Services Limited IPO open date is Dec 13, 2021, and the close date is Dec 15, 2021. The issue may list on Dec 23, 2021.
| IPO Open Date | Dec 13, 2021 |
| IPO Close Date | Dec 15, 2021 |
| Basis of Allotment Date | Dec 20, 2021 |
| Initiation of Refunds | Dec 21, 2021 |
| Credit of Shares to Demat Account | Dec 22, 2021 |
| IPO Listing Date | Dec 23, 2021 |
IPO Lot Size
The Medplus Health Services Limited IPO market lot size is 18 shares. A retail-individual investor can apply for up to 13 lots (234 shares or ₹186264).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 18 | ₹14328 |
| Maximum | 13 | 234 | ₹186264 |
IPO Promoter Holding
| Pre Issue Share Holding | 43.16% |
| Post Issue Share Holding | 40.43% |
Company Financials:
For the year/period ended (₹ in Crs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 3091 | 2996 | 63.11 |
| 31-Mar-20 | 2888 | 2859 | 1.79 |
| 31-Mar-19 | 2285 | 2262 | 11.92 |
Objects of the Issue:
- Funding working capital requirement of subsidiary, Optival; and
- General corpoarte purposes.
Medplus Health Services Limited IPO Registrar:
KFin Technologies Limited
Medplus Health Services Limited IPO Lead Manager(s):
Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Edelweiss Financial Services Ltd, Nomura Financial Advisory And Securities (India) Pvt Ltd
