MedPlus Health IPO opens today: Apply for reasonable listing gain and long-term view, says Anil Singhvi

MedPlus Health Services Limited IPO is all set to open for subscription on Monday, December 13. The three-day initial public offer (IPO) will close on December 15. The issue comprises a fresh issue of up to Rs 600 crore and an offer for sale (OFS) of up to Rs 798.29 crore, including an anchor portion of 52,51,111 equity shares.

See Zee Business Live TV Streaming Below:

Should you apply?  

Speaking about this IPO, Zee Business Managing Editor Anil Singhvi on Monday said that one can apply for this IPO for reasonable listing gain and with a long-term view.  

He said strong promoters, Medplus being the second-largest Pharmacy retailer in India, and a strong financial track record infuses confidence in the company and the IPO. Also, a reasonable valuation is a bonus. Negative for this company is that it focuses only on the southern market," said Anil Singhvi.  

A 100 per cent book building issue, Medplus had a fixed price band of Rs 780-Rs 796 for this IPO.  

One lot consists of 18 equity shares. An investor can apply for a minimum of one lot or 18 equity shares and in multiples thereof.  

The maximum subscription amount for a retail investor has been capped at Rs 2 lakh, while for eligible employees it is Rs 5 lakh.

Maximum bid quantity for QIB investors 12,503,916 equity shares in multiple of 35 Equity Shares, while for NIB Investors 8,931,366 equity shares in multiple of 35 Equity Shares.

Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Edelweiss Financial Services Limited and Nomura Financial Advisory and Securities (India) Private Limited are Book Running Lead Managers (BRLMs), while the sponsor bank is Axis Bank Limited.

MedPlus IPO Timeline

Application start date: December 13, 2021

Application end date: December 15, 2021

Allotment begins on: December 20, 2021

Refund initiation date: December 21, 2021

Allotment finalisation date: December 22, 2021

Listing date: December 23, 2021

Dates as per Upstox