MedPlus Health IPO Opens Today: Check GMP, Price Band & Other Details Of Pharmacy Chain

 MedPlus Health IPO Opens Today: Check GMP, Price Band & Other Details Of Pharmacy Chain


The Initial Public Offering (IPO) of pharmacy retail chain MedPlus Health Services Ltd opened for subscription on Monday, December 13. The three-IPO will conclude on December 16. The company, which has fixed a price band of Rs 780-796 per equity share, is planning to raise Rs 1,398 crore from the issue. 

Ahead of the IPO, MedPlus Health Services mobilised Rs 410 crore from anchor investors. The firm allotted 52.51 lakh shares to anchor investors at Rs 796 per share, aggregating to Rs 417.98 crore, as per the information uploaded on the BSE website.

BlackRock Global Funds, Abu Dhabi Investment Authority, Fidelity, Goldman Sachs, Nomura, HFFC Life Insurance Company, Morgan Stanley, SBI Life Insurance Co Ltd, SBI Mutual Fund (MF), Aditya Birla Sun Life MF and ICICI Prudential Life Insurance Company are among the anchor investors.

The public issue comprises Rs 600 crore worth of fresh shares and an Offer For Sale (OFS) of shares worth Rs 98.30 crore by existing shareholders and promoters.

MedPlus Health IPO: Issue date, lot size, share allotment and all key details
  • MedPlus Health IPO date: December 13- December 16
  • Price band: It has been set at Rs 780-796 per share
  • Lot size: The investor can bid for a minimum of one lot which contains 18 shares and in multiples thereof. 
  • IPO size: Rs 1,398 crore-
  • MedPlus Health IPO share allotment date: Likely on December 20
  • MedPlus Health IPO listing date: Likely December 23 on BSE and NSE
  • MedPlus Health IPO GMP

    The GMP (Grey Market Premium) suggests the listing gain from the IPO on listing on Indian bourses- BSE and NSE. In the grey market, the IPO has been trading at a GMP  of around 40% of the upper price band of the issue.

    MedPlus Health Services has kept aside shares worth Rs 5 crore for its employees, who will get it at a discount of Rs 78 apiece to the final issue price. The book running lead managers to the IPO are Axis Capital, Credit Suisse Securities (India), Nomura Financial Advisory and Securities (India) and Edelweiss Financial Services.

    MedPlus is India's second-largest pharmacy chain with more than 2,100 stores across various states including Andhra Pradesh, Tamil Nadu, Telangana, Karnataka, West Bengal, Odisha and Maharashtra. The company also has an online presence with 'MedPlus Labs', 'MedPlus Mart' and 'MedPlus Lens'.

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