Medplus Health will list on stock exchange tomorrow — GMP at ₹180
- Medplus Health’s IPO was oversubscribed by 52 times.
- The company has raised ₹600 crore as fresh issue and ₹798.29 crore through OFS.
- It started with 48 stores in Hyderabad and it currently has over 2,000 stores.
AdvertisementHyderabad-based pharmacy retail chain MedPlus Health Services will be listed on the stock exchange tomorrow, December 23, after its initial public offering (IPO) was oversubscribed by 52 times.
The portion reserved for qualified institutional buyers (QIB) was oversubscribed 111 times. The grey market premium (GMP) — premium at which shares are being traded in the grey market — was at ₹180 on December 21.
Medplus Health is expected to list on the stock exchange at a premium of 22.61%.
|Qualified Institutional Buyer (QIB)||111.90|
|Non Institutional Investor (NII)||85.33|
The company has raised ₹600 crore as fresh issue and ₹798.29 crore through an offer for sale (Of), which went to the shareholders of the company.
The company is India's second-largest pharmacy retailer in terms of the number of stores and revenue. It started with 48 stores in Hyderabad and it currently has over 2,000 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra, as of March, 2021.
It sells a wide range of products, including pharmaceutical and wellness products — medicines, vitamins, medical devices and test kits, and fast-moving consumer goods — home and personal care products, toiletries, baby care products, soaps and detergents, and sanitisers.
Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion
MapmyIndia debuts below expectation but IPO investors still make a sweet 53% return on listing
Two teenage Stanford dropouts have made their startup worth half a billion in 7 months
Popular on BI
- More emissions reduction targets will help Indian fossil fuel giants, IEEFA reports
- Microsoft joins hands with MSDE, CBC to train 2.5 mn civil servants in India
- Best RO water purifier for home in India
- Hyundai launched its premium SUV Tucson in India with automated sensing technology - check details here
- Drive to plant 100,000 mangroves in proximity to Sundarbans in Bangladesh