MedPlus IPO subscription closes today: Subscribed 1.46 times till Day 2; Check GMP status

The Initial Public Offering (IPO) of pharmacy retail chain MedPlus Health Services Ltd will close on Wednesday, December 15. The IPO of the pharmacy retail chain was subscribed 1.46 times on the second day of subscription on Tuesday, December 14.

The Rs 1,398.3 crore offer received bids for 1,83,08,934 shares against 1,25,75,154 shares on offer, as per NSE data.

The public issue comprises Rs 600 crore worth of fresh shares and an Offer For Sale (OFS) of shares worth Rs 798.30 crore by existing shareholders and promoters.

Medplus IPO subscription status

The Medplus IPO opened for subscription on Monday, December 13, and will close on Wednesday. The initial offer was subscribed 1.46 times on the second day. On the third and final day of subscription by 11:30 am, the Medplus IPO has been subscribed 2.20 times. The category for Retail Individual Investors (RIIs) was subscribed 3.12 times, while those for non-institutional investors received 0.70 subscriptions. Meanwhile, the portion kept for Qualified Institutional Buyers (QIBs) was subscribed 0.53 per cent and the portion kept for employees were subscribed 1.83 times.

The company, which has fixed a price band of Rs 780-796 per equity share, is planning to raise Rs 1,398 crore from the issue. Ahead of the IPO, MedPlus Health Services mobilised Rs 410 crore from anchor investors. The firm allotted 52.51 lakh shares to anchor investors at Rs 796 per share, aggregating to Rs 417.98 crore, as per the information uploaded on the BSE website. BlackRock Global Funds, Abu Dhabi Investment Authority, Fidelity, Goldman Sachs, Nomura, HFFC Life Insurance Company, Morgan Stanley, SBI Life Insurance Co Ltd, SBI Mutual Fund (MF), Aditya Birla Sun Life MF and ICICI Prudential Life Insurance Company are among the anchor investors.

Medplus IPO GMP

The GMP (Grey Market Premium) suggests the listing gain from the IPO on listing on Indian bourses- BSE and NSE. In the grey market, the IPO has been trading at a GMP of around ₹300 today, promising a profit on the issue in the stock market. MedPlus is India's second-largest pharmacy chain with more than 2,100 stores across various states including Andhra Pradesh, Tamil Nadu, Telangana, Karnataka, West Bengal, Odisha and Maharashtra. The company also has an online presence with 'MedPlus Labs', 'MedPlus Mart' and 'MedPlus Lens'.

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