Medplus Health IPO Listing of Shares at 31% Premium to the Issue Price

- Advertisement -
- Advertisement -

Must Read

Rajendra Choudharyhttps://livetimesnews.com
Rajendra Choudhary is The Founder & CEO of Live Times Media Pvt. Since 2019 He Started his Digital Journey and Built a Victory in The Media and Education Industry with over 5 Websites and Blogs.

Medplus Health IPO Listing of Shares at 31% Premium to the Issue Price: MedPlus Health Services opened strongly on Thursday with a gain of 31% in the secondary market. Shares of Hyderabad-based MedPlus Health – a pharmacy retailer – started their journey at Rs 1,015 on the BSE, up 27.5 per cent from its issue price of Rs 796. On NSE, MedPlus shares are listed at Rs 1,040, a premium of 30.7%.

The strong listing of MedPlus Health Services shares was in line with the trend observed in the gray market prior to the opening of Dalal Street. MedPlus Health on Thursday had earlier ordered a gray market premium (GMP) of Rs 180.

Abhay Doshi (co-founder of Unlisted Arena) had expected MedPlus shares to be listed at a premium of 15-20 per cent.
The IPO of MedPlus Health was open for subscription from December 13 to December 15. The total subscription of shares on offer in the IPO was 52.6 times. Under the IPO, Medplus shares were available for bidding in the price band of Rs 780-796.

Medplus Health IPO Listing
Medplus Health IPO Listing

Medplus Health IPO Listing

According to BSE data, the market capitalization of the company after the listing was Rs 12,109 crore.

Medplus Health Services shares were trading 38% higher at $1,100 on December 23 at 10.00 am.

The IPO, which opened between December 13 and December 15, has received a good response from investors. Subscribed 52.50 times on the last day of bidding.

The company is the second largest pharmacy retailer in India in terms of number of stores and revenue. It started with 48 stores in Hyderabad and has more than 2000 stores as of March 2021 across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra.

Medplus Health Company Raised Rs 1,398 crore

In this IPO, bids were made for Rs 66.13 crore shares for a total of 1.25 crore shares of the shares. In this, there was an order for shares worth Rs 52,645 crore while the company raised Rs 1,398 crore through its public issue at Rs 796 per share. The funds raised through the IPO will be used to meet the working capital requirements of the company’s subsidiary optics and for general corporate purposes.

About Medplus Health Company

MedPlus was founded in 2006 by Gangadi Madhukar Reddy, who is the Managing Director and Chief Executive Officer (CEO) of the company. The Hyderabad-based pharmacy retailer offers a wide range of products, which includes home and personal care items such as pharmaceutical products, public health products and consumer goods products. Medplus Health IPO Listing.

As of June 31, 2021, the company has a strong pharmacy sales network of 2,165 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra. MedPlus was the first pharmacy retailer in India to introduce an omnichannel platform and continues to grow its retail store network. Medplus Health IPO Listing. 3rabinews.com

- Advertisement -
- Advertisement -

More Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Article