MedPlus Health Services IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 18, 2022Let’s have a detailed review of the company and analytics of the MedPlus Health Services IPO release date, IPO offer price, subscription, MedPlus Health Services Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 2 |
| Price Band | Rs 780 to Rs 796 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 18 Shares |
| Listing Date | Dec 23, 2021 |
| Offer for Sale | Rs 7983 Million |
| Fresh Issue | Rs 6,000 Million |
| IPO Size | Rs 13983 Million |
| Tick Size | 1 |
MedPlus Health Services IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
MedPlus Health Services IPO – Summary
They are the second-largest pharmacy retailer in India, in terms of (i) revenue from operations for the financial year 2021, and (ii) the number of stores as of March 31, 2021, according to the Technopak Report. They offer a wide range of products, including (i) pharmaceutical and wellness products, including medicines, vitamins, medical devices, and test kits, and (ii) fast-moving consumer goods, such as home and personal care products, including toiletries, baby care products, soaps and detergents, and sanitizers.
Their Company was founded in 2006 by Gangadi Madhukar Reddy, their Managing Director and Chief Executive Officer, with the vision to set up a trusted pharmacy retail brand that offers genuine medicines and delivers better value to the customer by reducing inefficiencies in the supply chain using technology.
The Promoter of this company is GANGADI MADHUKAR REDDY, LONE FURROW INVESTMENTS PRIVATE LIMITED AND AGILEMED INVESTMENTS PRIVATE LIMITED. The lead manager to the issue is Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Edelweiss Financial Services Limited, and Nomura Financial Advisory and Securities (India) Private Limited, and the Registrar to this issue is KFin Technologies Private Limited.
MedPlus Health Services IPO Date
The opening and the closing date of MedPlus Health Services IPO are Dec 13, 2021, and Dec 15, 2021, respectively.
Check out Related IPO Links:
| MedPlus Health Services IPO GMP |
| Allotment – MedPlus Health Services IPO |
MedPlus Health Services IPO Subscription
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 13th Dec | 0.06x | 0.16x | 1.29x | 0.76x | 0.70x |
| 2nd Day – 14th Dec | 0.09x | 0.50x | 2.64x | 1.73x | 1.46x |
| 3rd Day – 15th Dec | 111.90x | 85.33x | 5.24x | 3.05x | 52.59x |
| Shares Offered or Net Issue | 3,572,550 | 2,679,414 | 6,251,965 | 71,225 | 12,575,154 |
The shares subscribed by the public will be updated here.
Check MedPlus Health Services IPO LIVE Subscription
- MedPlus Health Services IPO LIVE Bid details on BSE
- MedPlus Health Services IPO LIVE Bid details on NSE
For the Latest Bid details click on the above links.
MedPlus Health Services IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
MedPlus Health Services Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Dec 20, 2021 |
| Refunds Initiation | Dec 21, 2021 |
| Credit of Shares to Demat Account | Dec 22, 2021 |
| Share Listing Date | Dec 23, 2021 |
MedPlus Health Services IPO Price Band
The face value of each share is Rs.2, but the price band of the IPO is Rs 780 to Rs 796
MedPlus Health Services IPO Equity Size
This Initial Public Issue of X Equity Shares of Rs.2 each for cash at a price of Rs 780 to Rs 796 per equity share aggregating to Rs.13983 Million.
MedPlus Health Services IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] Equity Shares of Rs.2/ each.
Issue Size: X Equity Shares of Rs.2 each, aggregating to Rs.13983 Million
Open Free Demat Account Now!
MedPlus Health Services IPO – Live Performance
The listing date of this IPO is Dec 23, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – MedPlus Health Services Share Price |
MedPlus IPO Grey Market Premium
The MedPlus Health Services Limited IPO Grey Market Premium price is Rs 180, the Kostak rate is Rs 500 and the Subject to Sauda is Rs 3000
MedPlus Health Services IPO – Company Overview
They have maintained a strong focus on scaling up their store network, having grown from operating their initial 48 stores in Hyderabad at the conception of their business to operating India’s second-largest pharmacy retail network of over 2,000 stores distributed across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal, and Maharashtra, as of March 31, 2021, according to the Technopak Report.
Stemming from their focus on growing and achieving leadership in the key cities where they operate, for the financial year 2021, their share of the organized pharmacy retail market, based on revenue from operations, in Chennai, Bangalore, Hyderabad, and Kolkata stood at approximately 30%, 29%, 30%, and 22%, respectively, according to the Technopak report.
Their number of stores has grown since the conception of their business and, as of June 30, 2021, they operated 520 stores in Karnataka, 458 stores in Tamil Nadu, 443 stores in Telangana, 274 stores in Andhra Pradesh, 201 stores in West Bengal, 186 stores in Maharashtra and 83 stores in Odisha.
They have continued to expand their store footprint in key cities where they operate and, between March 31, 2010, and June 30, 2021, their number of stores in Chennai grew over four-fold from 62 to 293 stores, their number of stores in Bangalore grew three-fold from 110 to 331 stores, their number of stores in Hyderabad grew over two-fold from 141 to 309 stores, and their number of stores in Kolkata grew over eight-fold from 22 to 201 stores. In terms of the number of stores as of March 31, 2021, they ranked 1st in Chennai and Bangalore, and 2nd in Hyderabad and Kolkata, according to the Technopak report
MedPlus Health Services IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | ||||
| 30-Sep-21 |
31-Mar-21 | 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 |
| Total Expense | 18,073.44 | 29,957.16 | 28,585.28 | 22,621.89 |
| Profit After Tax | 663.67 | 631.11 | 17.94 | 119.22 |
Earnings per Equity Share (in Million)
| 30-Sep-21 |
31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Basic | 6.16 | 5.99 | 0.21 | 1.33 |
| Diluted | 5.99 | 5.75 | 0.20 | 1.27 |
Further, their PAT for the period ended on March 31, 2021, March 31, 2020, and March 31, 2019, were Rs. 631.11 Million, Rs. 17.94 Million, and Rs. 119.22 Million respectively.
MedPlus Health Services IPO – Promoters
The Promoter of this company is:
- GANGADI MADHUKAR REDDY,
- LONE FURROW INVESTMENTS PRIVATE LIMITED
- AGILEMED INVESTMENTS PRIVATE LIMITED
List of Related Parties (Key Managerial Personnel)
- Gangadi Madhukar Reddy, Managing Director, and Chief Executive Officer
- Anish Kumar Saraf, Non-Executive Director
- Atul Gupta, Non-Executive Director
- Murali Sivaraman, Non-Executive Independent Director
- Madhavan Ganesan, Non-Executive Independent Director
- Hiroo Mirchandani, Non-Executive Independent Director
MedPlus Health Services IPO – Promoters Holding
- Pre Issue Share Holding – 43.16%
- Pos Issue Share Holding – 40.43%
MedPlus Health Services IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to X Equity Shares aggregating up to Rs.13983 Million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 32,202,130 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
MedPlus Health Services IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Funding working capital requirements of their Material Subsidiary, Optival; and
- General corporate purposes.
MedPlus Health Services IPO – Business Strategy
- Strengthen Their Market Position by Increasing Store Penetration in Existing Clusters and Developing New Clusters
- Further, Develop Their Omni-channel Platform with a Hyperlocal Delivery Model
- Increase Their Share of Private Labels and Enhance Their Stock Keeping Unit (“SKU”) Mix
- Enhance Revenue and Increase Customer Wallet Share Through Continued Investment in Technology Infrastructure and Expansion into Adjacent Healthcare Vertical
- Continue to Increase Operating Efficiency and Enhance Supply Chain Management to Drive Profitability
MedPlus Health Services IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- India’s Second Largest Pharmacy Retailer;
- Established Brand and Value Proposition to Customers;
- Successful Track Record of Expansion Using a Distinct Cluster-based and Replicable Store Unit Expansion Approach;
- High-Density Store Network Enhancing Omni-channel Proposition;
- Lean Cost Structure and Technology-Driven Operations; and
- Well Qualified, Experienced and Entrepreneurial Board and Senior Management Team
The relevant quantitative factors are:
| Basic EPS | Diluted EPS |
RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 5.99 | 5.75 | 8.74 | 65.37 |
| 31-Mar-20 | 0.21 | 0.20 | 0.41 | – |
| Mar-19 | 1.33 | 1.27 | 4.09 | – |
MedPlus Health Services IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| MedPlus Health Services Limited | 2 | [●] | 5.99 | 8.74 | 30,908.14 |
| Listed Peers | |||||
| NA | – | – | – | – | – |
MedPlus Health Services IPO Lead Managers
| Lead Managers |
| Axis Capital Limited
Credit Suisse Securities (India) Private Limited Edelweiss Financial Services Limited Nomura Financial Advisory and Securities (India) Private Limited |
MedPlus Health Services IPO Registrar to offer
| Registrar to the Offer |
| KFin Technologies Private Limited Selenium, Tower B, Plot No- 31 and 32, Financial District, Nanakramguda, Serilingampally, Hyderabad, Rangareedi 500 032, Telangana, India Tel: +91 40 6716 2222/ 180034 54001 E-mail: medplus.ipo@kfintech.com Investor grievance e-mail: einward.ris@kfintech.com Website: www.kfintech.com Contact person: M Murali Krishna SEBI Registration No.: INR000000221 |
MedPlus Health Services IPO – Other Details
- Statutory Auditor – B S R & Associates LLP, Chartered Accountants
- Legal Counsel to the Company – Cyril Amarchand Mangaldas
- Bankers to the Company – Axis Bank Limited and HDFC Bank Limited
MedPlus Health Services IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Subscribe to MedPlus Health Services IPO
MedPlus Health Services Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
MedPlus IPO Review FAQs
Ques – What is the Issue Size of MedPlus IPO?
Answer – The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
Ques – What is the Price band of MedPlus IPO?
Answer – The price band for this particular IPO ranges between Rs 780 to Rs 796. As far as the face value of the share is of concern, it is Rs.2 per share.
Ques – What is the MedPlus IPO Open Date?
Answer – The opening and closing dates for this IPO have been updated. The IPO is set to open on Dec 13, 2021, while the closing date is set at Dec 15, 2021.
Ques – What is the MedPlus Services IPO Allotment Date?
Answer – They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Dec 20, 2021, refund initiation is on Dec 21, 2021, credit of shares is on Dec 22, 2021, and share listing date is on Dec 23, 2021.
Ques – What is the MedPlus Health IPO Listing Date?
Answer – Shares of this company shall be listed in the exchanges on Dec 23, 2021. The date, when the listing would be done, is stagnant on Dec 23, 2021.
Ques – Who is the Registrar of MedPlus IPO?
Answer – One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Private Limited. Their website will help you regarding the further information you are on the lookout for.
Ques – Who is the Promoter of MedPlus Health IPO?
Answer – Here are the promoters of this IPO – GANGADI MADHUKAR REDDY, LONE FURROW INVESTMENTS PRIVATE LIMITED AND AGILEMED INVESTMENTS PRIVATE LIMITED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
Ques – What is the GMP of MedPlus Health Services IPO?
Answer – They have obtained the GMP of this IPO and it is Rs 180. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Ques – Is MedPlus IPO good for Investment?
Answer – They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
Ques – What is the PAT of MedPlus Health Services?
Answer – They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Million is 631.11, 2020 is 17.94, 2019 is 119.22.
Calculate your return on investment!
Asset Class
ROI (Rs.)
Profit (Rs.)
Profit (%)
IPO
Equity
Savings
Real Estate
Gold
Bonds
Fixed Deposit
Mutual Fund
Featured Topics