MedPlus Health Shares End 40.7% Higher Over Issue Price After Listing At A 30.65% Premium
MedPlus Health's stock listed at Rs 1,040 apiece, a 30.65% premium to its IPO price of Rs 796, on the NSE.
Shares of MedPlus Health Services Ltd. rose on market debut after a maiden issue by the pharmacy retailer saw healthy interest from investors.
The stock listed at Rs 1,040 apiece, a 30.65% premium to its IPO price of Rs 796, on the National Stock Exchange. The stock hit an intraday high of Rs 1,143.90 apiece and closed at Rs 1,120 apiece, up 40.7% over its issue price.
The IPO—comprising a fresh issue worth Rs 600 crore and an offer for sale of up to Rs 798.3 crore—was subscribed 52.59 times.
MedPlus offers pharmaceutical and wellness products, including medicines, vitamins, medical devices and test kits. It also provides fast-moving consumer goods such as home and personal care products, including toiletries, baby care products, soaps and detergents, and sanitisers.
The company operated 2,326 stories in 261 cities across seven states as on Sept. 30. It has 18 warehouses in nine cities, besides three manufacturing plants in Telangana.