
Medplus IPO: Key Details
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Company Information
Medplus Health Services Limited, incorporated in 2006, is the second-largest pharmacy retailer in India, in terms of revenue from operations for the financial year 2021, and the number of stores (2000+) as of March 31, 2021, according to the Technopak Report.
They offer a wide range of products, including
(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.
Competitive Strengths
- India’s Second Largest Pharmacy Retailer;
- Established Brand and Value Proposition to Customers;
- Successful Track Record of Expansion Using a Distinct Cluster-based and Replicable Store Unit Expansion Approach;
- High Density Store Network Enhancing Omni-channel Proposition;
- Lean Cost Structure and Technology Driven Operations; and
- Well Qualified, Experienced and Entrepreneurial Board and Senior Management Team.
Company Strategy
- Strengthen Market Position by Increasing Store Penetration in Existing Clusters and Developing New Clusters
- Further Develop Omni-channel Platform with a Hyperlocal Delivery Model
- Increase Share of Private Labels and Enhance Stock Keeping Unit (“SKU”) Mix
- Enhance Revenue and Increase Customer Wallet Share Through Continued Investment in Technology Infrastructure and Expansion into Adjacent Healthcare Vertical
- Continue to Increase Operating Efficiency and Enhance Supply Chain Management to Drive Profitability
Proceeds from Medplus IPO will be used to:
- Investment into Material Subsidiary, Optival for funding working capital requirements of Optival; and
- General corporate purposes.
Medplus IPO: Financials
2019 | 2020 | 2021 Mar | 2021 June | |
---|---|---|---|---|
Revenue from Ops | ₹2272.3 Cr | ₹2870.6 Cr | ₹3069.3 Cr | ₹1879.9 Cr |
Prof Before Exp. Items | ₹22.75 Cr | ₹29.36 Cr | ₹95.10 Cr | ₹83.56 Cr |
Profit after Tax | ₹11.92 Cr | ₹1.79 Cr | ₹63.11 Cr | ₹66.37 Cr |
EPS (Basic) | 1.33 | 0.21 | 5.99 | 6.16 |
EPS (Avg*) | P/E (Floor) | P/E (Cap) | |
---|---|---|---|
Based on basic EPS | 3.29 | 237.08 | 241.95 |
Medplus IPO: Comparison with listed industry peers
As per RHP, There are no listed companies in India that engage in a business similar to that of the Company. Accordingly, it is not possible to provide an industry P/E ratio.
Medplus IPO Dashboard
Issue Details
Type | Value |
---|---|
Issue Size | ₹1,398.30 Cr |
Fresh Issue | ₹600.00 Cr |
Offer for Sale | ₹798.30 Cr |
Face Value | ₹2/- per Equity Share |
IPO Price | ₹780 – ₹796 |
Lot Size | 18 shares |
Lots | Min 1 – Max 13 |
Key Dates
Date Type | Date |
---|---|
Bid Open | 13/12/2021 |
Bid Close | 15/12/2021 |
Allotment Finalization | 20/12/2021 |
Initiation of Refunds | 21/12/2021 |
Credit of Shares | 22/12/2021 |
Listing Date | 23/12/2021 |
Lot Size and Price
Lots | Shares | Amount |
---|---|---|
1 | 18 | ₹14,328 |
13 | 234 | ₹1,86,264 |
Promoter Holding
Holding | Percentage |
---|---|
Pre-Issue | 43.16% |
Post-Issue | 40.43% |
Medplus IPO: Investor Quota and Shares Offered
Investor Type | Quota | Shares on Offer |
---|---|---|
QIB | 50% | – |
NII | 15% | – |
RII (Retail) | 35% | – |
Employees | – | |
Total | 100% | – |
Medplus IPO: Risks
- One of the Promoters, Lone Furrow Investments Private Limited, has pledged a portion of its shareholding with certain lenders under various loan and security agreements
- Their insurance coverage may not be adequate to protect us against all potential losses to which they may be subject to.
- There have been instances of negative cash flows in the last three financial years.
- Their lenders have imposed certain restrictive conditions on us under financing arrangements.
For complete internal and external risk factors, you can refer to the RHP of the company.
Medplus IPO: Registrar and Lead Managers
Registrar of the Issue
KFintech (Formerly Karvy)
Selenium Tower B, Plot 31 & 32,
Financial District, Nanakramguda, Serilingampally
Hyderabad, Telangana India – 500 032
Phone: 1-800-309-4001
Email: [email protected]
Lead Managers of the Issue
- Axis Capital Limited
- Credit Suisse Securities (India) Private Limited
- Edelweiss Financial Services Limited
- Nomura Financial Advisory and Securities (India) Private Limited
Phone: +91 22 4325 2183
Email: [email protected]