A day ahead of its debut on the bourses, the scrip was exchanging hands at a premium of about Rs 100 per share in the grey market, signaling at strong debut on Dalal street.
The Rs 1,398.30 crore IPO of Medplus Health Services was open for subscription between December 13-15. The company sold its shares in the range of Rs 780-796 per share.
It received a strong response as it was subscribed about 53 times. The quota for institutional bidders got bids for 112 times, whereas the HNI portion was subscribed a little more than 85 times. Retail allocation fetched more than 5 times bids.
Incorporated in 2006, Medplus Health Services is India’s second largest pharmacy retailer in terms of the number of stores and revenue, offering pharmaceutical and wellness products.
The company has over 20 per cent share in organized pharmacy retail with a network of 2,165 stores, majorly in the states of Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal, and Maharashtra.