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Medplus Health Services Limited IPO Detail

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 Ltd

IPO Details

IPO Opening DateDec 13, 2021
IPO Closing DateDec 15, 2021
Issue TypeBook Built Issue IPO
Face Value₹2 per equity share
IPO Price ₹780 - 796 per equity share
Market Lot18 Shares
Min Order Quantity18 Shares
Listing AtBSE, 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)

Day 1 0.06x 0.16x 1.29x 0.76x - 0.7x
Day 2 0.08x 0.51x 2.64x 1.74x - 1.45x
Day 3 111.89x 85.34x 5.23x 3.05x - 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 DateDec 13, 2021
IPO Close DateDec 15, 2021
Basis of Allotment DateDec 20, 2021
Initiation of RefundsDec 21, 2021
Credit of Shares to Demat AccountDec 22, 2021
IPO Listing DateDec 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).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding43.16%
Post Issue Share Holding40.43%

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