INSUBCONTINENT EXCLUSIVE:
MedPlus Health Solutions Limited's IPO was subscribed 52.59 times on last day of its issueNew Delhi: Pharmacy retail chain MedPlus Health
Solutions Limited's preliminary public offer (IPO) was subscribed 52.59 times on the last day of its problem on Wednesday.The Rs
1,398.3-crore IPO got bids for 66,13,67,268 shares against 1,25,75,154 shares on offer, according to an update on the NSE.Qualified
institutional purchasers (QIBs) got a whopping 111.89 times subscription, while non-institutional financiers 85.33 times and the retail
financiers (RIIs) classification was subscribed 5.23 times.The IPO had a fresh issue of up to Rs 600 crore and an offer-for-sale of as much
as Rs 798.30 crore.The price range for the IPO was Rs 780-796 per share.The profits from the fresh problem will be utilized for moneying the
working capital requirements of the business's subsidiary Optival.MedPlus was founded in 2006 by Gangadi Madhukar Reddy, who is the
company's managing director and chief executive officer.The Hyderabad-based pharmacy retailer uses a wide variety of products, consisting
of pharmaceutical and wellness products, such as medications, vitamins, medical gadgets and test packages, and FMCG items like home and
individual care products, including toiletries, baby care items, soaps and cleaning agents and sanitisers.Axis Capital, Credit Suisse
Securities (India), Edelweiss Financial Solutions and Nomura Financial Advisory and Securities (India) were the managers to the offer.
