News Update

Medplus Health Services acquires investors just ahead of IPO

• ByStartupStory     |    December 11, 2021

India’s retailer pharmacy, Medplus Health Services mobilised Rs 417.98 crores from anchor investors just ahead of the company going public in BSE. Marquee investors, Abu Dhabi Investment Authority, Blackrock Global Funds, Nomura, Fidelity Investment Trust, Goldman Sachs, Morgan Stanley, Wasatch International Opportunities Fund, Carmignac Portfolio, and CI Asian Tiger Fund showed interest in the company through the anchor book.

Domestic investors, HDFC Trustee, Aditya Birla Sun Life, SBI Mutual Fund, Nippon Life, Kotak Mutual Fund, Motilal Oswal Mutual Fund, HDFC Life Insurance, ICICI Prudential Life Insurance, SBI Life Insurance, and Edelweiss also invested in the company.

In its BSE filings, the company will open for subscription during December 13-15, 2021, with a price band of Rs 780-796 per share. The company said, “Out of the total allocation of 52,51,111 equity shares to the anchor investors, 17,96,238 equity shares were allocated to 7 domestic mutual funds through a total of 18 schemes,” It aims to garner Rs 1,398.3 crore through its IPO. The offer comprises fresh issuance of shares worth Rs 600 crore, and an offer for sale of Rs 798.3 crore by selling shareholders.

Medplus became India’s second largest retail pharmacy and  grown from its initial 48 stores in Hyderabad to India’s second largest pharmacy retail network of 2,000 stores distributed across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra.

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