Medplus IPO: Subscription for Medplus Health Services Limited IPO opened for subscription on 13th December 2021 and it will remain available for bidding till 15th December 2021. Price band of the book built issue has been fixed at ₹780 to ₹796 per equity share and India's second-largest pharmacy retailer company aims to raise ₹1,398.30 crore from this public offer ( ₹600 crore from fresh issue and ₹798.30 crore through Offer for Sale or OFS). According to market observers, shares of Medplus Health Services are available at a premium of ₹300 in the grey market today.
Medplus Health IPO subscription status
At the end of Day 1 of the issue, the Medplus IPO was subscribed 0.70 times while the retail portion was subscribed 1.29 times.
We list out 10 important details in regard to Medplus Health IPO:
1] MedPlus IPO GMP: As per the market observers, shares of Medplus have started to trade in the grey market ahead of its subscription opening. They said that Medplus Health IPO GMP today is ₹300, which means grey market is expecting this public issue to list around ₹1096 ( ₹796 + ₹300). So, grey market today is expecting around 38 per cent listing gain from Medplus IPO.
2] Medplus IPO price: Company management has fixed price band of its public offer at ₹780 to ₹796 per equity share.
3] Medplus IPO subscribe or not: Giving her review on Medplus Health IPO; Aprajita Saxena, Research Analyst at Trustline Securities said, "Medplus Health Services is India's second-largest pharmacy retailer in terms of the number of stores and revenue. It has strong pharmacy retail network of 2,165 stores and the company is second largest retail pharmacy in India. Solid brand reputation, customer proposition, omni-channel platform and strong financial metrics are some of the strong fundamentals that may favour the public issue. Due to the positive sentiments listing gain could be of ₹300 and listing price around ₹1096 apiece for this pharmacy stock."
4] Medplus IPO size: The pharmacy retailer company aims to raise ₹1,398.30 crore from its public issue, out of which ₹600 crore is aimed from fresh issue whereas ₹798.30 crore is targeted via OFS.
5] Medplus IPO lot size: A bidder will be able to apply for the IPO in lots and one lot of the IPO comprises 18 company shares.
6] Medplus IPO application limit: One bidder can apply for minimum one lot and maximum 13 lots.
7] Medplus IPO investment limit: As one bidder can apply 1 to 13 lots of the IPO, minimum investment allowed in the public issue is ₹14,328 ( ₹796 x 18) whereas maximum investment allowed to single bidder is ₹1,86,264 [( ₹796 x 18) x 13].
8] Medplus IPO allotment date: The tentative date for finalisation of share allocation is 20th December 2021. Initiation of refund may begin on 21st December 2021 and credit of shares in the Demat Account of allottees may take place on 22nd December 2021.
9] Medplus IPO listing: Shares of the company will list on both NSE and BSE and the expected date of Medplus Health IPO listing is 23rd December 2021.
10] Medplus IPO registrar: Official registrar of the IPO is KFintech Private Limited.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
