Hyderabad based Medplus IPO subscribed 52.6 Times

Medplus Health IPO: Medplus Health Services, a Hyderabad based pharmacy retailer offered intial public offering of 1398.30 Crores saw a strong response on the last day of public subscription. The issue was subscribed 52.59 times.

The IPO, which was a fresh issue of up to ₹600 crore and an offer for sale of up to ₹798.30 crore, came out with a price range of ₹780-796.

Retail investors bid for 5.24 times their reserved portion of shares and employees put in bids 3.05 times their allotted quota.

The portion set aside for qualified institutional buyers was subscribed 111.90 times and that of non-institutional investors saw 85.33 times subscription.

Medplus is backed by marquee investors including Lavender Rose of the Warburg Pincus group and affiliates of Premji Invest.

Medplus is India's second largest pharmacy retailer with a network of more than 2,000 stores across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal, and Maharashtra. It operates through physical stores and an ecommerce portal.