MedPlus Health Services IPO listing: Shares to list in Rs 925-1000 range against issue price of Rs 796, Anil Singhvi
As the shares of Indias second-largest Pharmacy retail chain, MedPlus Health Services Limited, is all set to be listed on the bourses on Thursday, Zee Business Managing Editor Anil Singhvi expects reasonable listing for this IPO of the health services provider.
As the shares of India's second-largest Pharmacy retail chain, MedPlus Health Services Limited, is all set to be listed on the bourses on Thursday, Zee Business Managing Editor Anil Singhvi expects reasonable listing for this IPO of the health services provider.
See Zee Business Live TV Streaming Below:
"Expected to list in 925-1000 range against issue price of Rs 796," said Anil Singhvi in MedPlus Health Services IPO's listing preview.
He suggested short-term investors to consider the issue price as stoploss. "Short Term Investors keep Stop Loss of issue price. Long-term Investors can hold," said Zee Business Manging Editor.
The initial public offer (IPO) of MedPlus Health Services Limited was subscribed 52.59 times on the final day of the issue on December 15. The IPO of health services provider saw bids being made for 66,13,67,268 shares against reserved 1,25,75,154 shares. The NIIs subscribed to the issue 85.33 times, while retail quota saw 5.24 times bidding.
The offer of the second-largest Pharmacy retail chain in India comprised a fresh issue of up to Rs 600 crore and an offer for sale (OFS) of up to Rs 798.29 crore.
Medplus had 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 the 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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.