Homemarket Newsstocks News

    MedPlus Health IPO opens today; check price band, GMP and other details

    MedPlus Health IPO opens today; check price band, GMP and other details

    MedPlus Health IPO opens today; check price band, GMP and other details
    Profile image

    By CNBCTV18.com  IST (Updated)

    Mini

    The MedPlus Health Services IPO opens for subscription on December 13 and the Hyderabad-based pharmacy firm has set a price band of Rs 780-796 per share for the Rs 1,398 crore issue.

    MedPlus Health Services Ltd’s initial public offering (IPO) is all set to open for subscription on December 13. The firm is looking to use the proceeds of the initial share sale to meet the working capital requirements of the company's material subsidiary Optival. The pharmacy company’s IPO worth Rs 1,398.71 crore comprises fresh issuance of equity shares and an offer for sale (OFS) of equity by the promoter and existing shareholders.
    Here are all the details of the MedPlus Health IPO:
    Date:
    MedPlus Health IPO will open for subscription on December 13 and the last day to subscribe to the issue will be December 15. The issue will be open for anchor investors on December 10.
    Issue size: The Rs 1,398 crore initial share sale includes fresh issuance of equity shares worth Rs 600 crore and an offer for sale (OFS) of equity shares aggregating up to Rs 798.30 crore by the promoter and existing shareholders. The company cut the OFS size to Rs 798.30 crore from Rs 1,038.71 crore.
    The issue includes a reservation of equity shares worth Rs 5 crore for the company's employees who will receive those shares at a discount of Rs 78 per share to the final issue price.
    Price band: The pharmacy firm has fixed a price band of Rs 780-796 apiece for the equity shares, proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
    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.
    Grey market premium: According to IPO Watch data, the pharmacy company is trading at a premium of Rs 300 or 38 percent in the grey market, at the upper price band of the issue.
    Fund utilisation: MedPlus will use the IPO proceeds to fund the working capital requirements of the company's subsidiary 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.
    Issue 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.
    Company profile: Founded in 2006 by Gangadi Madhukar Reddy, who is the company's managing director and chief executive officer, the Hyderabad-based pharmacy retailer offers products ranging from pharmaceutical and wellness such as medicines, vitamins, medical devices and test kits, to FMCG products such as home and personal care products, including toiletries, baby care products, soaps and detergents and sanitisers. MedPlus has 2,000 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra.
    Financials: MedPlus reported a profit of Rs 63.11 crore for FY21, up from just Rs 1.79 crore in FY20. Revenue during the same period increased to Rs 3,069.26 crore from Rs 2,870.6 crore.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng