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Updated on: Thursday, December 23, 2021, 11:18 AM IST

Medplus shares list with nearly 31% premium on stock exchanges

The stock is listed at Rs 1,015, a gain of 27.51 per cent against the issue price on BSE. It further zoomed 40.69 per cent to Rs 1,119.95./ Representational image | Photo credit: Freepik

The stock is listed at Rs 1,015, a gain of 27.51 per cent against the issue price on BSE. It further zoomed 40.69 per cent to Rs 1,119.95./ Representational image | Photo credit: Freepik

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Shares of Medplus Health Services on Thursday listed with a premium of nearly 31 per cent against the issue price of Rs 796.

The stock listed at Rs 1,015, a gain of 27.51 per cent against the issue price on BSE. It further zoomed 40.69 per cent to Rs 1,119.95.

On NSE, it made its debut at Rs 1,040, reflecting a jump of 30.65 per cent. The pharmacy retail clinched a market valuation of Rs 13,083.06 crore.

The initial public offering of pharmacy retail chain MedPlus Health Services Ltd was subscribed 52.59 times last week.

The Rs 1,398.3-crore IPO had a price range at Rs 780-796 per share. 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 fresh issue

The firm is looking to use the proceeds of the initial share sale for funding working capital requirements of the company's material 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.

(With PTI inputs)

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Published on: Thursday, December 23, 2021, 11:18 AM IST
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