MedPlus Health IPO opens today: Check GMP, price band & other details of pharmacy chain

Initial Public Offering (IPO) of pharmacy retail chain MedPlus Health Services Ltd opened for subscription on Monday, December 13. three-IPO will conclude on December 16. company, which has fixed a price band of Rs 780-796 per equity share, is planning to raise Rs 1,398 crore from issue. 

Ahe of IPO, MedPlus Health Services mobilised Rs 410 crore from anchor investors. firm allotted 52.51 lakh shares to anchor investors at Rs 796 per share, aggregating to Rs 417.98 crore, as per information uploed on BSE website.

BlackRock Global Funds, Abu Dhabi Investment Authority, Fidelity, Goldman Sachs, Nomura, HFFC Life Insurance Company, Morgan Stanley, SBI Life Insurance Co Ltd, SBI Mutual Fund (MF), itya Birla Sun Life MF and ICICI Prudential Life Insurance Company are among anchor investors.

public issue comprises Rs 600 crore worth of fresh shares and an Offer For Sale (OFS) of shares worth Rs 98.30 crore by existing shareholders and promoters.

MedPlus Health IPO: Issue date, lot size, share allotment and all key details

• MedPlus Health IPO date: December 13- December 16
• Price band: It has been set at Rs 780-796 per share
• Lot size: investor can bid for a minimum of one lot which contains 18 shares and in multiples reof. 
• IPO size: Rs 1,398 crore-
• MedPlus Health IPO share allotment date: Likely on December 20
• MedPlus Health IPO listing date: Likely December 23 on BSE and NSE

MedPlus Health IPO GMP

GMP (Grey Market Premium) suggests listing gain from IPO on listing on Indian bourses- BSE and NSE. In grey market, IPO has been tring at a GMP  of around 40% of upper price band of issue.

MedPlus Health Services has kept aside shares worth Rs 5 crore for its employees, who will get it at a discount of Rs 78 apiece to final issue price. book running le managers to IPO are Axis Capital, Credit Suisse Securities (India), Nomura Financial visory and Securities (India) and Edelweiss Financial Services.

MedPlus is India's second-largest pharmacy chain with more than 2,100 stores across various states including Andhra Presh, Tamil Nu, Telangana, Karnataka, West Bengal, Odisha and Maharashtra. company also has an online presence with 'MedPlus Labs', 'MedPlus Mart' and 'MedPlus Lens'.