Medplus shares list with nearly 31 pc premium

Hyderabad: Pharmacy retailer MedPlus Health Services Ltd, which got listed on BSE on Thursday, saw its stock jumping 40.81 per cent to Rs 1,120.85. The shares were listed with a premium of nearly 31 per cent against the issue price of Rs 796 and settled with a gain of about 41 per cent. Similarly, the […]

Hyderabad: Pharmacy retailer MedPlus Health Services Ltd, which got listed on BSE on Thursday, saw its stock jumping 40.81 per cent to Rs 1,120.85. The shares were listed with a premium of nearly 31 per cent against the issue price of Rs 796 and settled with a gain of about 41 per cent.

Similarly, the stock zoomed 40.70 per cent to Rs 1,120 on NSE, making its debut at Rs 1,040, reflecting a gain of 30.65 per cent. The company is listed under the ‘Speciality Retail’ category.

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The company’s market valuation on BSE stood at Rs 13,372.38 crore. In volume terms, 11,99,056 shares were traded on BSE and over 1.84 crore shares on NSE.

The initial public offering (IPO) of MedPlus was subscribed 52.59 times last week. The Rs 1,398.3-crore IPO had a price range of Rs 780-796 per share.

MedPlus, founded in 2006 by Gangadi Madhukar Reddy, offers a wide range of products, including pharmaceutical and wellness products, such as medicines, vitamins, medical devices and test kits, and FMCG products such as home and personal care products, including toiletries, baby care products, soaps and detergents and sanitisers.

The Hyderabad-headquartered company is today India’s second largest pharmacy retailer in terms of store count and revenues. MedPlus currently operates a network of over 2,300 stores across Telangana, Andhra Pradesh, Karnataka, Tamil Nadu, Odisha, West Bengal, and Maharashtra.

MedPlus was the first pharmacy retailer in India to offer an omnichannel platform that enables customers to visit the stores or place the order online by mobile application or website.

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