MedPlus Health Services Limited

MEDPLUS

₹780-796

per share

Bidding Dates

13-15 Dec

Min. Investment

₹14,040.00

Lot Size

18 shares

Issue Size

₹1398 Cr

IPO Timeline

Bidding starts

13 Dec ‘21

Bidding ends

15 Dec ‘21

Allotment finalisation*

20 Dec ‘21

Refund initiation*

21 Dec ‘21

Demat transfer

22 Dec ‘21

Listing

23 Dec ‘21

* Refund is a 7-10 days process. If you don’t get refund then please contact your bank.

MedPlus Healthcare Services is the second largest pharmacy retailer in India, after Apollo Pharmacy. It was founded in 2006 by Gangadi Madhukar Reddy, a medical doctor and an MBA from Wharton School, who set up stores initially in Hyderabad.

The company has transformed into an omni-channel retailer. Its customers can buy medicines from its stores, website and mobile app. The company’s revenue has gone up steadily and it is a profitable company. Medplus is now all set to launch its ₹1,398 crore IPO on December 13.

All about the IPO

While studying in Wharton School of Business, Dr Madhukar Gangadi, the founder and CEO of Medplus, came across a startling World Health Organisation report. This report claimed that a large amount of Indian medicines may be spurious. Spurred by this report and concerned about the ramifications this might have on the health of the Indian consumer, Madhukar opened Medplus’ first store in Hyderabad in 2006.

Since then, Medplus has managed to expand its footprints in several states in India. Today, it is the second largest pharmacy retailer in India in terms of revenue from operations in FY21.

Business highlights

Has an omni-channel model and sells medicines through its network of over 2,000 stores, website and mobile app.
Operates pharmacy retail stores in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra
Online sales now account for 9% of the total revenues.

Financials

Revenue: 16.2%; Net Profit: 129.1% (FY19-21 CAGR)