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Medplus Health IPO is a book built issue of Rs 1,398.30 crores. The issue is a combination of fresh issue of Rs 600.00 crores and offer for sale of Rs 798.30 crores.
Medplus Health IPO bidding started from December 13, 2021 and ended on December 15, 2021. The allotment for Medplus Health IPO was finalized on Monday, December 20, 2021. The shares got listed on BSE, NSE on December 23, 2021.
Medplus Health IPO price band is set at ₹780 to ₹796 per share. The minimum lot size for an application is 18 Shares. The minimum amount of investment required by retail investors is ₹14,328.
The issue includes a reservation of up to 71,225 shares for employees offered at a discount of Rs 78 to the issue price.
Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Edelweiss Financial Services Ltd and Nomura Financial Advisory And Securities (India) Pvt Ltd are the book running lead managers of the Medplus Health IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Medplus Health IPO RHP for detailed information.
| IPO Date | December 13, 2021 to December 15, 2021 |
| Listing Date | December 23, 2021 |
| Face Value | ₹2 per share |
| Price Band | ₹780 to ₹796 per share |
| Lot Size | 18 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹1,398.30 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹600.00 Cr) |
| Offer for Sale | [.] shares of ₹2 (aggregating up to ₹798.30 Cr) |
| Employee Discount | Rs 78 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Medplus Health IPO offers 12,575,154 shares. 3,572,550 (28.41%) to QIB, 2,679,414 (21.31%) to NII, 6,251,965 (49.72%) to RII, 71,225 (0.57%) to employees. 347,331 RIIs will receive minimum 18 shares and (sNII) and (bNII) will receive minimum 252 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 3,572,550 (28.41%) | NA |
| NII (HNI) Shares Offered | 2,679,414 (21.31%) | |
| Retail Shares Offered | 6,251,965 (49.72%) | 347,331 |
| Employee Shares Offered | 71,225 (0.57%) | NA |
| Total Shares Offered | 12,575,154 (100%) |
Medplus Health IPO opens on December 13, 2021, and closes on December 15, 2021.
| IPO Open Date | Monday, December 13, 2021 |
| IPO Close Date | Wednesday, December 15, 2021 |
| Basis of Allotment | Monday, December 20, 2021 |
| Initiation of Refunds | Tuesday, December 21, 2021 |
| Credit of Shares to Demat | Wednesday, December 22, 2021 |
| Listing Date | Thursday, December 23, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 15, 2021 |
Investors can bid for a minimum of 18 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 18 | ₹14,328 |
| Retail (Max) | 13 | 234 | ₹186,264 |
| Lot Size Calculator | |||
Gangadi Madhukar Reddy, Lone Furrow Investments Pvt Ltd, and Agilemed Investments Pvt Ltd are the company promoters.
| Share Holding Pre Issue | 43.16% |
| Share Holding Post Issue | 40.43% |
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
| Particulars | For the year/period ended (₹ in Millions) | ||||
|---|---|---|---|---|---|
| 30-Sep-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | ||
| Total Assets | 17,464.94 | 15,656.58 | 13,486.96 | 9,587.11 | |
| Total Revenue | 18,908.99 | 30,908.14 | 28,878.87 | 22,849.40 | |
| Profit After Tax | 663.67 | 631.11 | 17.94 | 119.22 | |
[Dilip Davda] After a dismal performance for FY20, the company posted super earnings and based on these earnings, it has priced its IPO very aggressively. While the sustainability of such margins going forward raises concern, pricing of the IPO too appears greedy. Cash surplus investors may consider an investment with a long-term perspective, others may ignore. Read detail review...
The Medplus Health IPO is subscribed 52.59 times on December 15, 2021 5:01:00 PM. The public issue subscribed 5.24 times in the retail category, 111.90 times in the QIB category, and 85.33 times in the NII category. Check Day by Day Subscription Details (Live Status)
Application Wise IPO Subscription (Retail): 4.81 times
| Category | Subscription (times) |
|---|---|
| QIB | 111.90 |
| NII | 85.33 |
| Retail | 5.24 |
| Employee | 3.05 |
| Total | 52.59 |
| Listing Date | December 23, 2021 |
| BSE Script Code | 543427 |
| NSE Symbol | MEDPLUS |
| ISIN | INE804L01022 |
| Final Issue Price | ₹796 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹796.00 |
| ₹1,015.00 |
| ₹1,015.00 |
| ₹1,143.10 |
| ₹1,120.85 |
| NSE |
|---|
| ₹796.00 |
| ₹1,040.00 |
| ₹1,040.00 |
| ₹1,143.90 |
| ₹1,121.15 |
Medplus Health Services Limited
707, 7th Floor, 5-9-13,
Taramandal Commercial Complex, Saifabad
Hyderabad 500 004
Phone: +91 040 6724 6724
Email: cs@medplusindia.com
Website: http://www.medplusindia.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: medplus.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Medplus Health IPO is a main-board IPO of [.] equity shares of the face value of ₹2 aggregating up to ₹1,398.30 Crores. The issue is priced at ₹780 to ₹796 per share. The minimum order quantity is 18 Shares.
The IPO opens on December 13, 2021, and closes on December 15, 2021.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Medplus Health IPO using UPI as a payment gateway. Zerodha customers can apply in Medplus Health IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Medplus Health IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Medplus Health IPO opens on December 13, 2021 and closes on December 15, 2021.
Medplus Health IPO lot size is 18 Shares, and the minimum amount required is ₹14,328.
You can apply in Medplus Health IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Medplus Health IPO will be done on Monday, December 20, 2021, and the allotted shares will be credited to your demat account by Wednesday, December 22, 2021. Check the Medplus Health IPO allotment status.
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