MedPlus Health Services’ target is to open another 350 stores in the second half of FY22, Gangadi Madhukar Reddy, MD & CEO, told CNBC-TV18.
He further said that India will be a Rs 2 lakh crore market by the year 2025.
The company’s initial public offering (IPO), which opened for subscription on Monday, December 13, received bids for 51.91 lakh equity shares against an IPO size of 1.25 crores, a subscription of 41 percent.
However, said Reddy, the company is not competing with the online retailers. Focus is to be one step above unorganised players, he said.
He further said that the online route contributes 9 percent to the total sales, but will not make huge spending on online channels.
For the entire management interview, watch the video