Investors piled into the initial public offering of MedPlus Health Services Ltd. on the final day.
The IPO comprised a fresh issue of shares worth Rs 600 crore and an offer for sale of up to Rs 798.3 crore, the Hyderabad-based company said in its red herring prospectus. It was seeking a market value of Rs 9,496 crore at the upper end of the price band.
The IPO included a reservation of equity shares worth Rs 5 crore for the company's employees at a discount of Rs 78 apiece. Around 35% of the net offer was for retail, while 50% was for qualified institutional buyers, and 15% for non-institutional buyers.
Besides general corporate purposes, the company plans to invest Rs 467.2 crore into its subsidiary Optival Health Solutions Pvt. for funding working capital requirements. This is estimated to be done over a period of three years.
Subscription Details: Day 3
The IPO was subscribed 52.59 times as of 5 p.m. on Dec. 15.
Institutional investors: 111.9 times.
Non-institutional investors: 85.33 times.
Retail investors: 5.24 times.
Employees: 3.05 times.
Research Reports
Investment Rationale, Financials, Key Risks, Concerns: KRChoksey
Omni-Channel Focused Established Retail Pharmacy: ICICI Direct
Watch BloombergQuint's IPO Adda With MedPlus Health MD & CEO Madhukar Reddy
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