Medplus Healthcare’s IPO opens today — checkout all the dates you need to know

• Pharmacy retail chain Medplus Health Services is looking to raise ₹1,639 crore through IPO.
• The company offers both offline and online sales of pharmaceutical products through website and mobile application.
• Azim Premji’s PI Opportunities Fund is among the promoters of the company selling its shares through the IPO.

Hyderabad-based pharmacy retail chain Medplus Health Services’ ₹1,398 crore initial public offering (IPO) is all set to open today, December 13, and close on December 15.

The IPO consists of a fresh issue of ₹600 crore worth of shares and an offer for sale of shares worth ₹798.29 crore by selling shareholders. 18 shareholders will be selling shares in the IPO including PI Opportunities fund, which is an affiliate of PremjiInvest. PremjiInvest is the family office of billionaire Azim Premji, founder chairman of Wipro.

The company is India's second-largest pharmacy retailer in terms of the number of stores and revenue. 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.

The company has over 2,000 stores distributed across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra.

Here are some of the important details related to the IPO:

The proceeds from the fresh issue will be utilised for working capital requirements of material subsidiary Optival.

It has grown from operating 48 stores in Hyderabad to now operating a retail network of over 2,000 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra, as of March, 2021.

Medplus’s profit went up sharply in FY21 to ₹63 crore from just ₹1.79 crore last year.

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