MedPlus IPO GMP, Price, Date, Allotment

Last updated on December 23, 2021

MedPlus IPO description – The company was founded in 2006 by Gangadi Madhukar Reddy and now it’s second largest pharmacy retailer in India, in terms of revenue and number of stores as of 31 March 2021. The company’s products range includes (i) pharmaceutical and wellness products, including medicines, vitamins, medical devices and test kits, and (ii) fast-moving consumer goods, such as home and personal care products, including toiletries, baby care products, soaps and detergents, and sanitizers.

The company has a retail network of over 2,000 stores distributed across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra, as of 31 March 2021. Its share of the organized pharmacy retail market, based on revenue from operations, in Chennai, Bangalore, Hyderabad and Kolkata stood at approximately 30%, 29%, 30% and 22%, respectively in FY2021.

For FY2021, its average revenue per store was approximately INR15.9 million, as compared to the average revenue per store in the domestic pharmacy retail industry of approximately INR2.3 million.

As of 30 September 2021, its mature stores had a median payback period of less than 3 years and demonstrated a compounded average same store sales growth of 8.3% on MRP from FY2019 to FY2021. For the FY2021 and the six months ended 30 September 2021, its Store Level Operating EBITDA Margin for mature stores was 11.0% and 11.58%, respectively, and its Store Level Operating ROCE for Mature Stores for the financial year 2021 was over 60%.

Promoters of MedPlus Health– Gangadi Madhukar Reddy, Lone Furrow Investments Private Limited and Agilemed Investments Private Limited

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MedPlus IPO Details

Subscription Dates	13 – 15 December 2021
Price Band	INR780 – 796 per share (employee discount – INR78 per share)
Fresh issue	INR600 crore
Offer For Sale	INR798.3 crore
Total IPO size	INR1,398.3 crore
Minimum bid (lot size)	18 shares
Face Value	INR 2 per share
Retail Allocation	35%
Listing On	NSE, BSE

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MedPlus Health’s Financial Performance

	FY2019	FY2020	FY2021	H1 FY2022
Revenue	2,285.0	2,887.9	3,090.8	1,890.9
Expenses	2,262.2	2,858.5	2,995.7	1,807.3
Net income	10.5	(0.5)	64.1	68.2
Margin (%)	0.5	(0.02)	2.1	3.6

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MedPlus IPO News

• MedPlus Health GMP positive – Here is what analysts predict
• MedPlus IPO RHP
• MedPlus IPO DRHP

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MedPlus Valuations & Margins

	FY2019	FY2020	FY2021
EPS	1.10	0.20	5.88
PE ratio	–	–	132.65 – 135.37
RONW (%)	4.09	0.41	8.74
ROCE (%)	–	19.87	26.08
EBITDA (%)	5.78	5.26	7.76
Debt/Equity	0.04	0.02	0.21
NAV	–	–	65.37

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MedPlus IPO GMP Daily Trend

Date	MedPlus IPO GMP	Kostak	Subject to Sauda
22 Dec 2021	INR150	INR350	INR2,500
21 Dec 2021	INR150	INR350	INR2,500
20 Dec 2021	INR160	INR350	INR2,800
18 Dec 2021	INR200	INR400	INR3,000
17 Dec 2021	INR220	INR400	INR3,000
16 Dec 2021	INR200	INR380	INR2,800
15 Dec 2021	INR200	INR400	INR3,000
14 Dec 2021	INR250	INR400	INR3,200
13 Dec 2021	INR300	INR420	INR3,600
11 Dec 2021	INR320	INR450	INR3,900
10 Dec 2021	INR300	INR400	INR3,700
9 Dec 2021	INR280	INR400	INR3,500
8 Dec 2021	INR300	INR400	INR3,000

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MedPlus IPO Subscription – Live Updates

Category	Shares Offered	Day 1	Day 2	Day 3
QIB	35,72,550	0.06	0.09	111.90
NII	26,79,414	0.16	0.50	85.33
Retail	62,51,965	1.29	2.64	5.24
Employees	71,225	0.76	1.73	3.05
Total	1,25,75,154	0.70	1.46	52.59

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MedPlus Health IPO Reviews – Subscribe or Avoid?

Angel One – Subscribe
Anand Rathi –
Antique Stock Broking –
Arihant Capital –
Ashika Research – Not rated
Asit C Mehta –
BP Wealth – Subscribe
Canara Bank Securities – Avoid
Choice Broking – Subscribe
Elite Wealth – Subscribe
GEPL Capital – Subscribe
Hem Securities – Subscribe
ICICIdirect – Subscribe
KR Choksey – Subscribe
Marwadi Financial Services – Subscribe
Motilal Oswal –
Nirmal Bang – Subscribe for long term
Prabhudas Lilladher – Subscribe
Religare Broking –
Samco Securities – Subscribe for long term
SMC Global – 2.5/5
Ventura Securities – Subscribe

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MedPlus Health Offer Registrar

KFin Technologies Private Limited
Selenium Tower B,
Plot No- 31 and 32, Financial District,
Nanakramguda, Serilingampally,
Hyderabad, Rangareedi 500 032,
Telangana, India
Phone: +91 40 6716 2222
Email: [email protected]
Website: www.kfintech.com

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MedPlus Health Contact Details

MedPlus Health Services Limited
Municipal No: 11-6-56,
Survey No. 257 & 258/1,
C Block, III Floor,
Opp: Railway Siding (Moosapet),
Kukatpally, Hyderabad 500 037,
Telangana, India;
Phone: +91 040 6724 6724;
Email: [email protected]
Website: www.medplusindia.com

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MedPlus IPO Allotment Status

MedPlus Health IPO allotment is now available on KFin Technologies’ website. Click on this link to get allotment status.

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MedPlus IPO Timetable

IPO Opening Date	13 December 2021
IPO Closing Date	15 December 2021
Finalisation of Basis of Allotment	20 December 2021
Initiation of refunds	21 December 2021
Transfer of shares to demat accounts	22 December 2021
Listing Date	23 December 2021
Opening Price on NSE	INR1,040 per share (up 30.65% from IPO price)
Closing Price on NSE	INR1,120 per share (up 40.7% from IPO price)

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MedPlus IPO FAQs