Incorporated in 2006, Medplus Health Services is India’s second-largest pharmacy retailer in terms of the number of stores and revenue. The company offers pharmaceutical and wellness products i.e. medicines, vitamins, medical devices, test kits, and fast-moving consumer goods i.e. home and personal care products, baby care products, sanitizers, soaps, and detergents, etc. It is also the first pharmacy retailer in India to offer an omnichannel platform wherein customers can purchase products through stores, place orders over the telephone, online orders, and a Click and Pick facility.
As of June 31, 2021, the company has a strong pharmacy retail network of 2,165 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal, and Maharashtra. In fiscal 2021, its share of the organized pharmacy retail based on revenue from operations in Chennai, Bangalore, Hyderabad, and Kolkata reported at 30%, 29%, 30%, and 22% respectively. It follows a cluster-based approach for store network expansion wherein it first opens high store density in a populated residential area within a target market. The company’s warehouses are located in Bengaluru, Chennai, Hyderabad, Vijaywada, Kolkata, Pune, Bhubaneshwar, Mumbai, and Nagpur.
Competitive strengths
- Second largest pharmacy retailer company in India.
- Strong brand name and customer value proposition.
- Pharmacy retail outlet network of 2000+ stores in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal, and Maharashtra.
- First pharmacy retailer to provide Omni-channel platform to customers.
- Highly qualified, experienced, and professional management team.
Company Promoters:
Gangadi Madhukar Reddy, Lone Furrow Investments Pvt Ltd, and Agilemed Investments Pvt Ltd are the company promoters.
Company Financials:
| Particulars | For the year/period ended (₹ in Millions) | |||
|---|---|---|---|---|
| 30-Sep-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 17,464.94 | 15,656.58 | 13,486.96 | 9,587.11 |
| Total Revenue | 18,908.99 | 30,908.14 | 28,878.87 | 22,849.40 |
| Profit After Tax | 663.67 | 631.11 | 17.94 | 119.22 |
Objects of the Issue:
- Funding working capital requirement of subsidiary, Optival; and
- General corpoarte purposes.
Medplus Health IPO Details
| IPO Opening Date | Dec 13, 2021 |
| IPO Closing Date | Dec 15, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹2 per equity share |
| IPO Price | ₹780 to ₹796 per equity share |
| Market Lot | 18 Shares |
| Min Order Quantity | 18 Shares |
| Listing At | BSE, NSE |
| Issue Size | [.] Eq Shares of ₹2 (aggregating up to ₹1,398.30 Cr) |
| Fresh Issue | [.] Eq Shares of ₹2 (aggregating up to ₹600.00 Cr) |
| Offer for Sale | [.] Eq Shares of ₹2 (aggregating up to ₹798.30 Cr) |
| Employee Discount | 78 |
| QIB Shares Offered | 50% of the net offer |
| Retail Shares Offered | 35% of the net offer |
| NII (HNI) Shares Offered | 15% of the net offer |
Medplus Health IPO Tentative Timetable
The Medplus Health IPO open date is Dec 13, 2021, and the close date is Dec 15, 2021. The issue may list on Dec 23, 2021.
| IPO Open Date | Dec 13, 2021 |
| IPO Close Date | Dec 15, 2021 |
| Basis of Allotment Date | Dec 20, 2021 |
| Initiation of Refunds | Dec 21, 2021 |
| Credit of Shares to Demat Account | Dec 22, 2021 |
| IPO Listing Date | Dec 23, 2021 |
Medplus Health IPO Lot Size
The Medplus Health IPO market lot size is 18 shares. A retail-individual investor can apply for up to 13 lots (234 shares or ₹186,264).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 18 | ₹14,328 |
| Maximum | 13 | 234 | ₹186,264 |
Medplus Health IPO Promoter Holding
| Pre Issue Share Holding | 43.16% |
| Post Issue Share Holding | 40.43% |
Company Contact Information
Medplus Health Services Limited
707, 7th Floor, 5-9-13,
Taramandal Commercial Complex, Saifabad
Hyderabad 500 004
Phone: +91 040 6724 6724
Email: cs@medplusindia.com
Website: http://www.medplusindia.com/
Medplus Health IPO Registrar
KFintech Private Limited
Phone: 04067162222, 04079611000
Email: medplus.ipo@kfintech.com
Website: https://karisma.kfintech.com/