Medplus Health Services IPO - A Fast Growing Pharmacy Retailer: Reliance Securities
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Reliance Securities' IPO Report
Medplus Health Services Ltd., incorporated on November 30, 2006 at Hyderabad, is the India’s second largest pharmacy retailer with network of over 2,000 stores distributed across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra.
Medplus offers a wide range of products comprising pharmaceutical and wellness products (medicines, vitamins, medical devices and test kits) and fast-moving consumer goods, such as home and personal care products, including toiletries, baby care products, soaps, detergents and sanitizers.
It operates via physical stores (~91% of sales) and online mode (contributes ~9% to FY21 sales).
Medplus is backed by marquee investors including Lavender Rose, belonging to Warburg Pincus group and affiliates of Premji Invest.
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