The initial public offering (IPO) of pharmaceutical retail chain MedPlus Health Services Limited was registered 52.59 times on the last day of Wednesday’s public offering.
According to an update on NSE, the IPO of Rs 1,398.3 received an auction of 66,13,67,268 shares compared to 1,25,75,154 shares offered for sale.
Qualified Institutional Buyers (QIBs) received a whopping 111.89x registrations, while non-institutional investors 85.33x and the retail investor portfolio (RII) registered 5.23 times.
The IPO has a new issue of up to Rs 600 crore and an offering of up to Rs 798.30.
The price range for the IPO is Rs 780-796 per share.
Proceeds from the new issue will be used to finance the working capital requirements of the company’s subsidiary Optival.
MedPlus was founded in 2006 by Gangadi Madhukar Reddy who is the chief executive officer and chief executive officer of the company.
Hyderabad-based pharmacy retailer offering a wide range of products, including pharmaceuticals and healthcare products, such as medicines, vitamins, medical equipment and testing kits, as well as products FMCG products such as household and personal care items, including toiletries, baby care products, soaps and detergents, and disinfectants.
Axis Capital, Credit Suisse Securities (India), Edelweiss Financial Services and Nomura Financial Advisory and Securities (India) are the managers of this offer.
https://www.ndtv.com/business/medplus-ipo-subscribed-52-59-times-on-last-day-of-offer-2653359 MedPlus IPO is registered 52.59 times on the last release date