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Founded in 2006, MedPlus Health operates with the goal of setting up a reliable pharmacy retail chain that offers authentic medicines to customers. It also aims to deliver better value to customers by minimising inefficiencies in its supply chain with technological help. Mr. Gangadi Madhukar Reddy, the founder, MD and CEO of MedPlus, is a doctor himself. As a result, his insight plays a key role in the growth and strategic direction of MedPlus. As of 30 June 2021, MedPlus Health operates around 2,165 retail stores in nearly 242 cities across the nation. The company currently has stores in Andhra Pradesh, Tamil Nadu, Telangana, West Bengal, Karnataka, Maharashtra and Odisha, and is planning to cover more states in future. MedPlus Health currently works with around 14,762 permanent in-house employees.

MedPlus Health excels in manufacturing private label pharmaceutical products. Its portfolio also includes FMCG and wellness products. Other operations of this company include import, distribution, wholesale, pathology diagnostic lab testing and retail sale.

MedPlus Health IPO Objectives

● MedPlus Health IPO Objectives

● General corporate purposes

MedPlus Health IPO – Details

The draft red herring prospectus filed by MedPlus Health states that it is looking to raise around Rs. 1,398.30 crores via this public offering. Moreover, this initial public offering will include fresh issue equity shares of Rs. 600 crores and In addition, existing shareholders will offload shares worth around Rs. 798.30 crores via an offer-for-sale.

Furthermore, the classification of share allocations for different categories is as follows –
1. For Qualified Institutional Buyers, it is not more than 50%
2. For Retail Individual Investors, it is 15%
3. For Non-institutional Investors, it is 35%
Moreover, MedPlus Health has appointed the following entities as the book running lead managers of this initial public offer –
1. Credit Suisse Securities (India) Private Limited
2. Nomura Financial Advisory and Securities (India) Private Limited
3. Edelweiss Financial Services Limited
4. Axis Capital Limited
Furthermore, KFin Technologies Private Limited is the registrar of this initial public offering.

Opening Date

13 Dec 2021

Closing Date

15 Dec 2021

Price Band

₹780 to ₹796

per equity share

Issue Size

₹1,398.30 Cr

Face Value

₹ 2

per equity share

Market Lot

18 Shares

Opening Date

13 Dec 2021

Closing Date

15 Dec 2021

Price Band

₹780 to ₹796

per equity share

Issue Size

₹1,398.30 Cr

Face Value

₹ 2

per equity share

Market Lot

18 Shares

Listing at NSE, BSE

Metro Brands IPO – Important Dates

IPO Open Date 13 Dec 2021
IPO Close Date 15 Dec 2021
Basis Of Allotment Date 20 Dec 2021
Initiation Of Refunds 21 Dec 2021
Credit Of Shares To
Demat ACcount		 22 Dec 2021
IPO Listing Date 23 Dec 2021

MedPlus Health IPO Latest News and Subscription Status Today [Live]

At 10:40:00 AM.

- This IPO has been subscribed 1.86x by 10:40 AM. on Day 3
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.53x
- (NII) Non-institutional buyers: 0.70x
- (RII) Retail Individual buyers: 3.12x
- (RII) Employees: 1.83x

At 11:40:00 AM.

- This IPO has been subscribed 2.33x by 11:40 AM. on Day 3
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.40x
- (NII) Non-institutional buyers: 1.18x
- (RII) Retail Individual buyers: 3.36x
- (RII) Employees: 1.86x

At 12:40:00 p.m.

- This IPO has been subscribed 2.33x by 12:40 AM. on Day 3
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 1.41x
- (NII) Non-institutional buyers: 1.75x
- (RII) Retail Individual buyers: 3.60x
- (RII) Employees: 1.92x

At 1:40:00 p.m.

- This IPO has been subscribed 18.45x by 1:40 AM. on Day 3
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 16.37x
- (NII) Non-institutional buyers: 55.78x
- (RII) Retail Individual buyers: 3.83x
- (RII) Employees: 1.96x

At 2:40:00 p.m.

- This IPO has been subscribed 36.05x by 2:40 AM. on Day 3
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 64.75x
- (NII) Non-institutional buyers: 72.43x
- (RII) Retail Individual buyers: 4.45x
- (RII) Employees: 2.03x

At 4:10:00 p.m.

- This IPO has been subscribed 52.54x by 4:10 AM. on Day 3
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 111.90x
- (NII) Non-institutional buyers: 85.33x
- (RII) Retail Individual buyers: 5.13x
- (RII) Employees: 3.01x

At 5:10:00 p.m.

- This IPO has been subscribed 52.59x by 5:10 AM. on Day 3
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 111.90x
- (NII) Non-institutional buyers: 85.33x
- (RII) Retail Individual buyers: 5.24x
- (RII) Employees: 3.05x

At 11:40:00 AM.

- This IPO has been subscribed 0.93x by 11:40 AM. on Day 2
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.06x
- (NII) Non-institutional buyers: 0.23x
- (RII) Retail Individual buyers: 1.72x
- (RII) Employees: 0.86x

At 12:40:00 p.m.

- This IPO has been subscribed 0.99x by 12:40 AM. on Day 2
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.06x
- (NII) Non-institutional buyers: 0.25x
- (RII) Retail Individual buyers: 1.85x
- (RII) Employees: 0.88x

At 1:40:00 p.m.

- This IPO has been subscribed 0.99x by 1:40 AM. on Day 2
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.06x
- (NII) Non-institutional buyers: 0.27x
- (RII) Retail Individual buyers: 1.96x
- (RII) Employees: 0.91x

At 2:40:00 p.m.

- This IPO has been subscribed 1.16x by 2:40 AM. on Day 2
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.06x
- (NII) Non-institutional buyers: 0.36x
- (RII) Retail Individual buyers: 2.13x
- (RII) Employees: 0.93x

At 3:30:00 p.m.

- This IPO has been subscribed 1.22x by 3:30 AM. on Day 2
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.09x
- (NII) Non-institutional buyers: 0.37x
- (RII) Retail Individual buyers: 2.24x
- (RII) Employees: 0.95x

At 4:20:00 p.m.

- This IPO has been subscribed 1.37x by 4:20 AM. on Day 2
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.09x
- (NII) Non-institutional buyers: 0.46x
- (RII) Retail Individual buyers: 2.49x
- (RII) Employees: 1.55x

At 5:10:00 p.m.

- This IPO has been subscribed 1.46x by 5:10 AM. on Day 2
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.09x
- (NII) Non-institutional buyers: 0.50x
- (RII) Retail Individual buyers: 2.64x
- (RII) Employees: 1.73x

At 10:40:00 AM.

- This IPO has been subscribed 0.18x by 10:40 AM. on Day 1
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.02x
- (RII) Retail Individual buyers: 0.35x
- (RII) Employees: 0.03x

At 12:10:00 p.m.

- This IPO has been subscribed 0.69x by 12:10 AM. on Day 1
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.02x
- (RII) Retail Individual buyers: 0.56x
- (RII) Employees: 0.09x

At 1:10:00 p.m.

- This IPO has been subscribed 0.38x by 1:10 AM. on Day 1
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.08x
- (RII) Retail Individual buyers: 0.72x
- (RII) Employees: 0.14x

At 2:10:00 p.m.

- This IPO has been subscribed 0.44x by 2:10 AM. on Day 1
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.13x
- (RII) Retail Individual buyers: 0.83x
- (RII) Employees: 0.15x

At 3:10:00 p.m.

- This IPO has been subscribed 0.49x by 3:10 AM. on Day 1
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.13x
- (RII) Retail Individual buyers: 0.93x
- (RII) Employees: 0.16x

At 4:10:00 p.m.

- This IPO has been subscribed 0.55x by 4:10 AM. on Day 1
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.00x
- (NII) Non-institutional buyers: 0.14x
- (RII) Retail Individual buyers: 1.04x
- (RII) Employees: 0.20x

At 5:10:00 p.m.

- This IPO has been subscribed 0.70x by 5:10 AM. on Day 1
- It is a public issue of 1,25,75,154 equity shares.

Status of Subscription

- (QIB) Qualified institutional buyers: 0.06x
- (NII) Non-institutional buyers: 0.16x
- (RII) Retail Individual buyers: 1.29x
- (RII) Employees: 0.76x

Why Should I Invest in MedPlus Health IPO?

Individuals can keep these factors in mind before investing in the initial public offering of MedPlus Health –

1. MedPlus Health is the second-largest pharmacy retailer in India.
2. It has a strong customer value proposition and brand name.
3. MedPlus Health is the first among all pharmacy retailers to offer an Omni-channel platform to customers.
4. A highly experienced and qualified management team is at its helm.

Financial Highlights

Financial Year Total Assets Total Income Total Expenses Profit After Tax
March FY2021 Rs. 8,269.37 Rs. 30,752.60 Rs. 29,956.99 Rs. 631.11
March FY2020 Rs. 7,711.77 Rs. 28,675.20 Rs. 28,384.35 Rs. 17.94
March FY2019 Rs. 4,633.38 Rs. 22,635.08 Rs. 22,527.60 Rs. 119.23
**Amount is mentioned in millions

How to apply for MedPlus Health IPO?

You can apply for the MedPlus Health IPO in these ways:

UPI
Link your bank account to a reliable UPI ID and register it with your Angel One account. Proceed to book MedPlus Health IPO shares using the ID, confirm the payment on the UPI app, and block the amount for allotment.

Demat Account

1. If you are already a client of Angel One, apply directly for MedPlus Health IPO, click here.
2. If you’re a new investor Open DEMAT Account for free with Angel One to begin your investment journey.

MedPlus Health IPO – Noteworthy Highlights

Some interesting facts about MedPlus Health that new investors should know before investing are listed below.

1. MedPlus Health is the second-largest pharmacy retailer brand in this nation.
2. It is one of the most trusted names in the field of general provision and medicines.
3. This company has a strong online presence owing to its ‘click and pick’ service.
4. MedPlus Health also has an exceptional offline presence with over 2,100 retail stores in more than 240 cities across the country.
5. This company has shown a significant increase in profit in FY21 as compared to the previous financial year.

MedPlus Health IPO - SWOT Analysis

strengths

Strengths

  • Omni-channel platform: MedPlus Health is the first company in its segment to offer an Omni-channel platform to its customers in India.
  • Excellent financials: The balance sheet of MedPlus Health displays its financial strengths. This company has significantly increased its net profit in FY21 as compared to FY20, which allows MedPlus Health to further invest in other areas and expand its business.
  • Extensive portfolio: MedPlus Health’s product portfolio includes wellness products, medicines, test kits, pharmaceuticals, and medical devices. The company also offers FMCGs like baby care products, toiletries, soaps, personal care products, and more.
Weaknesses

Weaknesses

  • Inventory stack-up: Since most medicines and wellness products come with expiry dates, MedPlus needs to keep its sales up and running at all times to prevent inventory stack-ups
Opportunities

Opportunities

  • Expansion into other healthcare verticals: Since MedPlus Health is a trusted brand and its Founder and CEO, Mr. Gangadi Madhukar Reddy, is himself a doctor, this company can venture into adjacent healthcare verticals with strategic planning.
  • Cluster-based approach: MedPlus Health follows a cluster-based approach. It aims to achieve a higher number of customers by targeting a highly-populated region before moving to another area. Since India is a densely populated country, MedPlus Health can still expand to newer regions with its offline retail stores.
Threats

Threats

  • Rising Competition: Since COVID-19, companies have prioritised their online presence like never before. So, other online pharmacies with unique offerings are now mushrooming more than ever. It not only limits MedPlus Health’s scope of market expansion but also imposes a direct threat to this company’s existing customer base.
Strenghts Strengths
Weaknesses Weaknesses
Opportunities Opportunities
Threats Threats

Strengths

  • Omni-channel platform: MedPlus Health is the first company in its segment to offer an Omni-channel platform to its customers in India.
  • Excellent financials: The balance sheet of MedPlus Health displays its financial strengths. This company has significantly increased its net profit in FY21 as compared to FY20, which allows MedPlus Health to further invest in other areas and expand its business.
  • Extensive portfolio: MedPlus Health’s product portfolio includes wellness products, medicines, test kits, pharmaceuticals, and medical devices. The company also offers FMCGs like baby care products, toiletries, soaps, personal care products, and more.

Weaknesses

  • Inventory stack-up: Since most medicines and wellness products come with expiry dates, MedPlus needs to keep its sales up and running at all times to prevent inventory stack-ups

Opportunities 

    • Expansion into other healthcare verticals: Since MedPlus Health is a trusted brand and its Founder and CEO, Mr. Gangadi Madhukar Reddy, is himself a doctor, this company can venture into adjacent healthcare verticals with strategic planning.
    • Cluster-based approach: MedPlus Health follows a cluster-based approach. It aims to achieve a higher number of customers by targeting a highly-populated region before moving to another area. Since India is a densely populated country, MedPlus Health can still expand to newer regions with its offline retail stores.

Threats

  • Rising Competition: Since COVID-19, companies have prioritised their online presence like never before. So, other online pharmacies with unique offerings are now mushrooming more than ever. It not only limits MedPlus Health’s scope of market expansion but also imposes a direct threat to this company’s existing customer base.

Competitive Analysis: Market Peers

Here is a list of MedPlus Health’s competitors and their performance as of FY21.

Competitor Funding ($) Revenue ($)
PharmEasy 1.3 Billion 317.5 Million
Netmeds 134.2 Million 10.2 Million
1mg 125.4 Million 6.5 Million

MedPlus Health IPO FAQs

How can I apply for the public offering of MedPlus Health via the Angel One App?

To apply for an IPO via the Angel One app, you can follow these steps –
Step 1: Go to the ‘Investment Opportunities’ section in the Angel One mobile app
Step 2: Proceed to the ‘IPOs and FPOs’ section and enter the necessary details
Step 3: Then, type in your UPI handle certified by NPCI
Step 4: Finally, click on ‘invest’ and submit your bid for this MedPlus Health IPO

I cannot find my UPI ID in the Angel One App dropdown menu while applying for this IPO. What is the reason ?

If you cannot find your UPI ID in the dropdown menu of the Angel One App, it might mean that your current UPI ID does not have NPCI’s approval. In such an occurrence, you can simply generate a new one with any of the UPI handles mentioned and approved under the NPCI List.

Can I apply for this public offering of MedPlus Health with a bank account that is not linked to the Angel One app?

Yes, you can apply for this public offering of MedPlus Health with a bank account that is not linked to the Angel One app. In this case, the bank account must be in your name.

Can I change my IPO bid for MedPlus Health’s public offer after submitting the application?

Yes, you can change the IPO bid for this MedPlus Health’s public issue even after submitting its final application. Here, you have the opportunity to change your UPI ID and the lot size. However, a point to remember here is that if you make any changes following the approval of your UPI mandate request, it will be then regarded as a new bid. Therefore, banks will block your bid amount besides your existing one. Additionally, you will get a new UPI mandate request like before.

Is it mandatory to approve a UPI mandate as soon as I receive it?

Yes, it is mandatory to approve a UPI mandate for this MedPlus Health IPO or any other public issue as soon as you receive it. However, these windows of approval remain active from the closing bell of the previous working day to 12 noon of the following one.

How can I create a UPI ID using the BHIM app?

To create a UPI ID using the BHIM app, you can follow these simple steps –
Step 1: Download and install the BHIM UPI app on your mobile phone
Step 2: Validate your mobile number and generate a PIN or password required to access this app
Step 3: Choose a bank from the financial institutions mentioned on NPCI’s list of registered services providers
Step 4: BHIM UPI App will then acquire your bank account information without any input from you
Step 5: However, if you have multiple bank accounts, select the one that you want to register and link with this app
Step 6: Finally, set up a personal UPI ID for security reasons
After that, you can check your UPI ID in the ‘Profile’ section of this app.

Can I apply for the public offering of MedPlus Health without a UPI ID?

Yes, you can apply for the IPO of MedPlus Health without a UPI ID. To do so, you can do so with the help of the ASBA process provided by your respective bank. However, if you do not have a UPI ID currently, you can simply generate one right away by resorting to any of the UPI handles mentioned on the NPCI List.

How to accept the UPI mandate request for this public issue of MedPlus Health?

You can simply use a UPI App to accept the mandate request for this MedPlus Health IPO. In this regard, you can click here to learn the specifics of this process and related steps.

Can I apply for the public issue of MedPlus Health via a Hindu Undivided Family or HUF account?

No, you cannot apply for the public issue of MedPlus Health using a Hindu Undivided Family account. However, you can take the help of this account if you apply for any public issue via the ASBA process.

How to find a UPI ID in the mobile app of Angel One?

You can find a UPI ID in the ‘profile’ section of the Angel One app.

Can I apply for the initial public offer of MedPlus Health with a current account?

No, you cannot apply for the initial public offer of MedPlus Health or any other company, for that matter, with a current account. Since financial institutions do not accept any IPO applications made via such accounts, you can use a savings account for this purpose. You can also talk to the representatives of your respective banks for more information.

What is the minimum amount of time required to block or unblock funds for an IPO subscription?

As soon as you accept a UPI mandate request, banks will freeze the required funds for an IPO. However, if your UPI mandate expires or you fail to receive an allotment, the banks will unblock these funds. Nonetheless, if these funds are not unblocked even after that, you can contact your respective banks for further clarification.

Can I apply for the IPO of MedPlus Health using my minor daughter’s account?

No, you cannot apply for the IPO of MedPlus Health or any other firm using your minor daughter’s account via the Angel One platform. However, a minor can bid for any public offering via the ASBA process.

Are NRIs eligible to use the Angel One app to apply for this MedPlus Health IPO?

No, NRIs are not eligible to use the Angel One app to apply for this MedPlus Health IPO. However, they can always avail of the Application Supported by Blocked Amount or ASBA process provided by different banks to submit bids for any public offerings of their choice.

I have not managed to submit bids for this public offering of MedPlus Health using my current UPI handle. What is the reason behind this?

The reason why you have not managed to submit bids for the IPO of MedPlus Health using your existing UPI ID is that this UPI handle may not be NPCI approved. In that case, you can easily generate a fresh one through any of the service providers mentioned on the NPCI’s list to extend UPI service. You can just complete the due process and then apply for any IPOs you want.

What is the minimum amount of time required to receive a UPI mandate request after submitting an IPO application?

The minimum time needed to receive a UPI mandate request after submitting an IPO bid is 10 to 15 minutes. However, this process gets hindered at times due to a number of reasons.

Even after approving the UPI mandate request of MedPlus Health’s public offering, its status on the Angel One App is showing pending. What is the reason behind this?

If the status of your IPO mandate request is displaying pending on the Angel One app, there is nothing you can do about it. The reason behind this is that the Angel One app is not engineered to display real-time updates of UPI mandate requests. However, if you have accepted it, you can find its actual status in the order book of that public issue after a while.

What is a cut-off price? Can I bid for an initial public offering at this price?

A cut-off price is a price point at which the equity shares of MedPlus Health or of other companies get listed on the share market. This is a previously determined price and is mainly decided during the allotment stage of an IPO. In addition, if you submit a bid at this price, it suggests that you are willing to apply for the public issue of MedPlus Health at this price point. Also, applying at a cut-off price enhances your chances of receiving an IPO allotment.

Is it possible to submit multiple bids for a public issue using a single PAN?

No, it is not possible to submit multiple bids for a public issue using one PAN. IPO applications get rejected in such cases as per the existing rules. Hence, you will fail to receive an allotment for this public offering of MedPlus Health or any other firm.

Do I need to bear any extra charges to apply for this public issue of MedPlus Health via Angel One platform?

No, you need not bear any extra charges to bid for this public issue of MedPlus Health using the Angel One platform.

How can I ensure allotment for this MedPlus Health IPO?

It is not possible to guarantee allotment for any public issue, irrespective of the company you choose to apply for. In the event of an oversubscription, which is a common affair, the allocation of shares is done via a lottery system. So, it is not probable to provide any conviction in this regard.
A point to keep in mind here is that the Angel One platform only permits you to apply for an IPO, and it does not offer any assurance regarding its allocation.
Nevertheless, you can increase your odds by keeping the below-mentioned points in mind –
● Applying at the cut-off price
● Using a Demat Account linked with your PAN
● Confirm that your bank account and UPI ID are linked through a single PAN, and failing to keep that can lead to rejection.
For instance, person X has applied for the MedPlus Health IPO via his Demat Account but person Y’s UPI ID. In such cases, the application can get rejected due to –
● Person Y’s UPI ID is not linked with X’s PAN
● Person X’s Demat account is not linked with Y’s bank account

Even after submitting the final application for MedPlus Health IPO, the required funds are not debited yet. What can the reason?

The reason for the IPO related funds not being debited even after submitting the bids is that banks do not release funds related to a public issue just after you submit a bid. Alternatively, they will block this amount momentarily, and once you get an allotment, they will debit it. On the other hand, if you do not receive an IPO allotment or your UPI mandate expires, banks will release this amount.

What are the plausible reasons behind the rejection of my IPO application for MedPlus Health?

Probable reasons behind the rejection of your IPO application for MedPlus Health are –
● Failing to ensure that your Demat account, UPI ID, and bank account are connected with the same PAN
● Entering an incorrect UPI PIN while approving the mandate
For example, if you use your Demat account to apply for this public issue and use your friend’s UPI ID to make payment. In that case, your application can get rejected –
● If your PAN and your friend’s UPI ID are not connected
● If your Demat account is not linked with your friend’s bank account

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