Medplus IPO: Following the close of bidding for MedPlus Health Services’ Initial Public Offering (IPO), bidders and market observers are anxiously awaiting the MedPlus IPO allotment date, which is most likely on 20th December 2021. In 3-day subscription, MedPlus Health IPO got 52.59 subscriptions. times while its retail portion was subscribed 5.24 times. After this strong response from the investors, the gray market is also giving a bullish trend regarding the public issue. As per market observers, the share of MedPlus Health is available at a premium of 260 in the gray market today.
Medplus IPO GMP
Market Observers Said Medplus IPO Is GMP Today 260, which is 10 more than yesterday’s gray market premium (GMP) 250. He said Medplus IPO gray market price is moving around from 225 280 for the past week which shows that the gray market is still positive about the public issue. He further added that the strong membership position of the IPO has also played an important role in keeping the gray market bullish on the MedPlus Health IPO after the subscription closure. The gray markets showing positive bias before the date of share allotment indicate that lucky allottees may expect attractive listing premium from the IPO, he added.
What does this GMP mean?
Market observers said the GMP listing gives an idea about the level of profit one can expect. MedPlus IPO Is Today as GMP 260, means gray market is expecting Medplus Health share listing 1056 ( 796+ 260), which is over 30 percent off its price band 780 to 796 per equity share.
However, stock market experts advised the bidders to rely on the company’s balance sheet instead of GMP. He said that GMP is an unofficial data which has nothing to do with the balance sheet of the company.
Speaking on the fundamentals of MedPlus Health; Abhay Doshi, Founder, UnlistedArena.com, said, “MedPlus is the second largest pharmacy retailer in terms of revenue from operations offering an omni-channel platform with over 2000 retail stores, while revenue from online sales accounts for about 9 percent of total revenue. Revenue Operations and EBITDA from Operations grew by 16.21 per cent and 63.21 per cent respectively from FY 2019-21. The performance of 6 months FY22 has also been exceptional. In the upper band, the issue is priced at around 6.8x its book value (post) -issue) and at 71.5x PE based on annual FY 2012 earnings after issue. The issue price is quite high even after considering the remarkable performance.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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