Wellness Forever Medicare IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 16, 2022Let’s have a detailed review of the company and analytics of the Wellness Forever Medicare IPO release date, IPO offer price, subscription, Wellness Forever Medicare 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 [●] |
| Listing At | BSE, NSE |
| Min. Order Quantity | NA |
| Listing Date | NA |
| Offer for Sale | Rs Million |
| Fresh Issue | Rs 4,000 Million |
| IPO Size | Rs Million |
| Tick Size | 1 |
Wellness Forever Medicare IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Wellness Forever Medicare IPO – Summary
They are India’s third-largest retail pharmacy and wellness network by the number of stores, with a leading position in Western India in terms of total revenues, according to Technopak They operate a large omnichannel, hyperlocal retail network under their “Wellness Forever” brand, serving as a one-stop solution for their customers’ wellness needs with most of their stores operating 24×7.
They opened their first drugstore in 2008, and they have expanded their retail footprint to a total of 236 stores in 23 cities across the Indian states of Maharashtra, Karnataka, and Goa serving a registered customer base of 6.7 million customers as of June 30, 2021. As a testament to their success, Technopak estimates that they generated the highest revenue per retail square foot in the Indian pharmaceutical retail industry for fiscal years 2020 and 2021.
The Promoter of this company is ASHRAF MOHAMMED BIRAN, GULSHAN HARESH BAKHTIANI, AND MOHAN GANPAT CHAVAN. The lead manager to the issue is IIFL Securities Limited, Ambit Private Limited, DAM Capital Advisors Limited, and HDFC Bank Limited, and the Registrar to this issue is Link Intime India Private Limited.
Wellness Forever Medicare IPO Date
The opening and the closing date of Wellness Forever Medicare IPO are not available yet.
Check out Related IPO Links:
| Wellness Forever Medicare IPO GMP |
| Allotment – Wellness Forever Medicare IPO |
Wellness Forever Medicare IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated here.
Check Wellness Forever Medicare IPO LIVE Subscription
- Wellness Forever Medicare IPO LIVE Bid details on BSE
- Wellness Forever Medicare IPO LIVE Bid details on NSE
For the Latest Bid details click on the above links.
Wellness Forever Medicare 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.
Wellness Forever Medicare Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | – |
| Refunds Initiation | – |
| Credit of Shares to Demat Account | – |
| Share Listing Date | – |
Wellness Forever Medicare IPO Price Band
The face value of each share is Rs.2, but the price band of the IPO is Rs.[●]
Wellness Forever Medicare IPO Equity Size
This Initial Public Issue of X Equity Shares of Rs.2 each for cash at a price of Rs.[●] per equity share aggregating to Rs.[●] Million.
Wellness Forever Medicare 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.[●] Million
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Wellness Forever Medicare IPO – Live Performance
The listing date of this IPO is [●]. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Wellness Forever Medicare Share Price |
Wellness Forever Medicare IPO Grey Market Premium
The Wellness Forever Medicare Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Wellness Forever Medicare IPO – Company Overview
They focus on providing their customers with a retail experience that goes beyond simply purchasing medicines and key necessities.
They offer a wide assortment of merchandise comprising approximately 91,500 pharmaceutical and wellness products, and each of their stores features an average of approximately 13,000 products per store, including fast-moving consumer goods (“FMCG”), fast-moving health goods (“FMHG”), nutraceuticals and medical equipment, among other products, alongside over-the-counter and prescription medicines.
For the fiscal years 2019, 2020, and 2021, their revenues derived from the sale of non-pharmaceutical products were Rs 2,407.18 million, Rs 3,122.44 million, and Rs 4,087.62 million, constituting 36.78%, 37.91%, and 45.72%, of their total revenues respectively, which is significantly higher than their main competitors in the fiscal year 2021, according to Technopak.
Their stores deliver a distinctive shopping environment and ambiance for their customers. Their stores are strategically located, most are open 24-hours a day and are on an average considerably larger in size than those of their main competitors, according to Technopak. Most of their stores are designed in a differentiated, self-browsing format and feature qualified pharmacists available at all times. They believe these features promote an aspirational element and help to position ourselves as a premium wellness brand.
Wellness Forever Medicare 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) | |||
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Total Assets | 6,087.55 | 4,765.97 | 3,823.03 |
| *Total Revenue | 9,413.59 | 8,670.99 | 6,809.44 |
| Total Expense | 9,870.26 | 8,712.60 | 6,839.38 |
| Profit After Tax | (348.47) | (53.21) | (13.33) |
Earnings per Equity Share (in Million)
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Basic & Diluted | (7.11) | (1.16) | (0.31) |
Further, their PAT for the period ended on March 31, 2021, March 31, 2020, and March 31, 2019, were Rs. (348.47) Million, Rs. (53.21) Million and Rs. (13.33) Million respectively.
Wellness Forever Medicare IPO – Promoters
The Promoter of this company is:
- ASHRAF MOHAMMED BIRAN
- GULSHAN HARESH BAKHTIANI
- MOHAN GANPAT CHAVAN
List of Related Parties (Key Managerial Personnel)
- Ashraf Mohammed Biran, Whole-Time Director
- Gulshan Haresh Bakhtiani, Whole-Time Director
- Mohan Ganpat Chavan, Whole-Time Director
- Avani Vishal Davda, Independent Director
- Ranjit Gobindram Shahani, Independent Director
- Kewal Handa, Independent Director
Wellness Forever Medicare IPO – Promoters Holding
- Pre Issue Share Holding – %
- Pos Issue Share Holding – %
Wellness Forever Medicare IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to X Equity Shares aggregating up to Rs.[●] 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 | 50,755,716 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Wellness Forever Medicare IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. Funding capital expenditure for setting up of new stores;
2. Repayment/prepayment, in part or full, of all or certain of their borrowings;
3. Funding incremental working capital requirements of their Company; and
4. General corporate purposes.
Wellness Forever Medicare IPO – Business Strategy
- Continue to build and strengthen their value leadership
- Deepen penetration in existing markets and expand presence in new territories through new stores and franchise stores.
- Continue growing their e-commerce footprint and consolidating their omnichannel, hyperlocal model
- Continuing to invest in, and leverage, their technology platforms across their business
- Pursue growth through selective, value accretive acquisitions and joint ventures and partnership opportunities in the broader healthcare industry
Wellness Forever Medicare 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:
- Unique retail platform within India’s fast-growing pharmaceutical retail sector
- Demonstrated track record of retail footprint expansion
- Omni-channel, hyper-local presence increasing customer touchpoints
- Valuable and trusted “Wellness Forever” brand
- Growth-ready, technology-backed infrastructure platform
- Led by a dynamic and experienced management team
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | (7.11) | (13.35) | 51.42 |
| 31-Mar-20 | (1.16) | (3.22) | – |
| Mar-19 | (0.31) | (1.21) | – |
Wellness Forever Medicare IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| Wellness Forever Medicare Limited | 2 | [●] | (7.11) | (13.35) | 9,413.59 |
| Listed Peers | |||||
| NA | – | – | – | – | – |
Wellness Forever Medicare IPO Lead Managers
| Lead Managers |
| IIFL Securities Limited
Ambit Private Limited DAM Capital Advisors Limited HDFC Bank Limited |
Wellness Forever Medicare IPO Registrar to offer
| Registrar to the Offer |
| Link Intime India Private Limited C 101, 247 Park L.B.S Marg Vikhroli (West), Mumbai 400 083 Maharashtra, India Tel: +91 22 4918 6200 E-mail: wellnessforever.ipo@linkintime.co.in Website: www.linkintime.co.in Investor Grievance ID: wellnessforever.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration Number: INR000004058 |
Wellness Medicare IPO – Other Details
- Statutory Auditor – Deloitte Haskins & Sells LLP
- Legal Counsel to the Company – Cyril Amarchand Mangaldas
- Bankers to the Company – Yes Bank Limited, IDFC FIRST Bank Limited, HDFC Bank Limited, and Axis Bank Limited
Wellness Medicare 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 |
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Wellness Forever Medicare Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Wellness Forever Medicare IPO Review FAQs
Ques – What is the Issue Size of Wellness Forever Medicare 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 Wellness Medicare IPO?
Answer – The price band for this particular IPO ranges between NA. As far as the face value of the share is of concern, it is Rs.2 per share.
Ques – What is the Wellness Medicare IPO Open Date?
Answer – The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
Ques – What is the Wellness Medicare IPO Allotment Date?
Answer – They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
Ques – What is the Wellness Forever Medicare IPO Listing Date?
Answer – Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Ques – Who is the Registrar of Wellness Forever IPO?
Answer – One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Ques – Who is the Promoter of Wellness IPO?
Answer – Here are the promoters of this IPO – ASHRAF MOHAMMED BIRAN, GULSHAN HARESH BAKHTIANI, AND MOHAN GANPAT CHAVAN. 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 Wellness Forever IPO?
Answer – They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Ques – Is Wellness Medicare 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 Wellness Forever Medicare Company?
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 (348.47), 2020 is (53.21), 2019 is (13.33).
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