Pharmacy retail chain MedPlus Health Services on Tuesday fixed a price band of Rs 780-796 a share for its Rs 1,398 crore initial share-sale, which will open for public subscription on December 13.
The three-day initial public offering (IPO) will close on December 15. The bidding for anchor investors will open on December 10 The initial share-sale comprises fresh issuance of equity shares worth 600 crore and an offer for sale (OFS) of up to equity shares aggregating up to Rs 798.30 crore by promoter and existing shareholders.
The company has cut the OFS size to Rs 798.30 crore from Rs 1,038.71 crore.
The issue includes a reservation of equity shares worth Rs 5 crore for the company's employees who will receive those shares at a discount of Rs 78 per share to final issue price.
Proceeds of the fresh issue will be used for funding working capital requirements of the company's subsidiary, Optival.
Half of the issue size has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors and 35 per cent for retail investors. Investors can bid for a minimum of 18 equity shares and in multiples thereof.
Axis Capital, Credit Suisse Securities (India), Nomura Financial Advisory and Securities (India) and Edelweiss Financial Services are the book running lead managers to the issue.
The equity shares are proposed to be listed on BSE and NSE.
(With inputs from PTI)
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