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Medplus Health Services Limited IPO : Issue Opens Dec 13, 2021

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.

Objects of the Issue:

  • Funding working capital requirement of subsidiary, Optival; and
  • General corpoarte purposes.

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.

Issue Details


ISSUE OPENS
Monday, December 13, 2021

ISSUE CLOSES
Wednesday, December 15, 2021

ISSUE PRICE
Rs 780- Rs 796 Per Equity Share.

BID LOT
18 Equity shares & multiple of 18 Equity shares thereafter.

ALLOTMENT DATE
Tentatively Monday, December 20, 2021

IPO SIZE
Rs. 1398.30 Cr

LISTING EXCHANGES
BSE & NSE

RATIOS
QIB 75% - Retail 15% - NIB 10%

Company Financials

Particulars For the year/period ended (₹ in million)
Summary of financial Information (Restated Consolidated) 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  

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