Medplus IPO: The public issue of Medplus Health Services Limited opens from today and will be available for bidding till December 15, 2021. The price band for the book built issue has been fixed 780 to 796 per equity share and India’s second largest pharmacy retailer aims to raise 1,398.30 crore from this public offering ( 600 crore more from the fresh issue 798.30 crores through Offer for Sale or OFS). As per market observers, MedPlus Health Services shares are available at a premium to 280 in the gray market today.
Medplus Health IPO Membership Status
At the end of the first day of the issue, the MedPlus IPO was subscribed 0.70 times while the retail portion was subscribed 1.2 times.
We list down 10 important details regarding Medplus Health IPO:
1]Medplus IPO GMP: According to market experts, MedPlus shares have started trading in the gray market even before the subscription opens. He Said MedPlus Health IPO GMP Is Today 280, which means the gray market is expecting this public issue to be listed around 1076 ( 796+ 280). Therefore, the gray market is expecting around 35 percent listing gain from the MedPlus IPO today.
2]Medplus IPO Price: The Company Management has fixed the price band of its Public Offer as: 780 to 796 per equity share.
3]Medplus IPO Subscribe or not: Giving his review on MedPlus Health IPO; Aparajita Saxena, Research Analyst at Trustline Securities, said, “MedPlus Health Services is India’s second largest pharmacy retailer in terms of number of stores and revenue. It has a strong pharmacy retail network of 2,165 stores and the company is the second largest retail pharmacy in India. Solid brand reputation, customer proposition, omni-channel platform and strong financial metrics are some strong fundamentals that can favor a public issue. Listing gains could be due to positive sentiments 300 and around the listing price 1096 each for this pharmacy stock.”
4]Medplus IPO Size: Pharmacy retailer company aims to grow 1,398.30 crore from its public issue, out of which 600 crore target is from fresh issue whereas A target of 798.30 crore has been set through OFS.
5]Medplus IPO Lot Size: A bidder will be able to apply for IPO in lots and one lot of IPO will consist of 18 shares of the company.
6]Medplus IPO Application Range: A bidder can apply for a minimum of one lot and a maximum of 13 lots.
7]Medplus IPO Investment Limit: Since a bidder can apply for 1 to 13 lots of IPO, the minimum investment allowed in the public issue is 14,328 ( 796 x 18) while the maximum investment allowed to a single bidder is 1,86,264 [( ₹796 x 18) x 13],
8]Medplus IPO Allotment Date: The tentative date for finalization of share allotment is 20 December 2021. The commencement of refund may start from December 21, 2021 and credit of shares in the demat account of the allottees may be done on December 22, 2021.
9]Medplus IPO Listing: The company’s shares will be listed on both NSE and BSE and the expected date of Medplus Health IPO listing is 23 December 2021.
10]Medplus IPO Registrar: The official registrar of the IPO is KFintech Private Limited.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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