Medplus Health Services | Medplus Company Details

Medplus health services is an Indian pharmaceutical retail chain store company. It was founded in 2006 by Gangadi Madhukar Reddy. The company headquarters is situated in Hyderabad, Telangana. Medplus health services offer various catagories of products synch as wellness products, FMCG products, healthcare, pharmaceuticals. The company has run their business through stores, websites, mobile app and phone calls.

History 

Medplus was incorporated in 2006 by Gangadi Madhukar reddy (Chairman & MD). The company managing director completed his bachelor degree in medicine and surgery. Medplus has launched its first store in Hyderabad city under the Aushadhi brand name, later it was rebranded as Medplus after the opening of the 48 stores. In 2007, Medplus health services expanded its retail stores in western states such as Gujarat and Rajasthan, but they had to shut down and exit operations due to huge losses. After a few decades, Medplus stores were again operational in Ahmedabad, Gujarat in 2014.

Medplus health service is India’s second-largest pharmacy retailer in terms of the number of stores and revenue. The company has operated 1300 stores across 130 cities in India as of 2015. On 16 Aug 2021, Medplus filed DRHp with the security exchange board of India for its initial public offering. The company has planned to raise Rs 1398 cr through the IPO.

Products and Services

Medplus health services offer pharmaceutical and wellness products i.e vitamins, medicines, medical devices, test kits, and fast-moving consumer goods like home and personal care products, baby care, sanitisers, soap and detergents, proteins powders, etc. the company operations include the manufacturing and contract manufacturing of private label pharmaceuticals wellness and FMCG products, wholesale and retail sale, import, distribution and pathology diagnostics laboratory testing. It is the first omnichannel platform where customers can purchase products through stores, online websites, place orders on the phone call, and click and pick up facilities.

Medplus operates 2165 stores in 2452 cities distributed across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra, as of June 30, 2021. The company expanded its store’s network based on high-density population areas within a target market. The company warehouses are situated in metro cities such as Chennai. Hyderabad, Bengaluru, Kolkata, Vijayawada, Nagpur, Pune, Mumbai and Bhubaneswar.

IPO Details

Medplus health services have planned to raise Rs 1398 cr fund through an initial public offering. The company IPO comprises fresh issue worth Rs 600 cr and an offer for sale worth Rs 798 Cr. The IPO open date is 13 Dec 2021 and the close date is 15 Dec 2021. The issue may be listed on Dec 23, 2021.

Promotors- Gangadi Madhukar reddy, Lone furrow investment Pvt ltd and Agilemed investments Pvt ltd are the company promoters.

Highlights

• India’s second-largest pharmacy retailer company.
• The company has a strong brand name and customer value proposition.
• First pharmacy retailer to provide an omnichannel platform to customers.
• Experience and highly qualified management team.
• Wide range of products portfolio and services.

Updates

•  In the grey market, the Medplus health service IPO has been trading at a GMP of around ₹300.
• IPO was subscribed 52.6 times, with retail investor subscription at 5.2 times and non-institutional investors’ at 85.33 times, The qualified institutional buyers’ portion received a stellar reception, getting booked 111.9 times.

• MedPlus Health Services lists at Rs 1,040, a 30% premium over the issue price. The stock opened at Rs 1,015 on the BSE and at Rs 1,040 on the National Stock Exchange, higher than the issue price of Rs 796 per share.

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