Medplus IPO particulars: Medplus IPO to open on Dec 13; value band fastened at Rs 780-796

NEW DELHI: The preliminary public providing (IPO) of the pharmacy retailer Medplus Well being Companies will hit the first markets on Monday, December 13. The value band for the preliminary stake sale has been fastened at Rs 780-796 per share.

Hyderabad-based MedPlus Well being Companies, the second-largest pharmacy retailer in India, is eyeing to mop up Rs 1,398.29 crore by way of the first route.

The IPO consists of the issuance of contemporary fairness shares value Rs 600 crore whereas promoters and current shareholders will offload fairness shares value Rs 798.29 by way of offer-for-sale (OFS).

Traders can bid for at least 18 shares after which in multiples thereof. The problem is open for subscription until December 15, Wednesday.

The corporate provides a variety of merchandise, together with pharmaceutical and wellness merchandise, comparable to medicines, nutritional vitamins, medical gadgets and check kits, and FMCG merchandise like dwelling and private care merchandise.

Proceeds of the contemporary difficulty will likely be used for funding the working capital necessities of the corporate’s subsidiary, Optival.

MedPlus was based in 2006 by Gangadi Madhukar Reddy, who’s the corporate’s managing director and chief government officer.

The corporate maintains a powerful give attention to scaling up its retailer community to over 2,000 shops distributed throughout Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra, as of March 31, 2021.

The corporate has reserved fairness shares value Rs 5 crore for its eligible shareholders, who will likely be given a reduction of Rs 78 per share within the bidding course of.

Fifty per cent of the web difficulty is reserved for certified institutional patrons (QIBs), whereas non-institutional patrons may have 15 per cent shares allotted for them. The retail portion has been fastened at 35 per cent of the supply.

Axis Capital, Credit score Suisse Securities (India), Edelweiss Monetary Companies and Nomura Monetary Advisory and Securities (India) have been appointed to handle the problem. KFin Applied sciences has been appointed because the registrar to the problem.

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Written by colin


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