MedPlus Health Raises Rs 418 Crore From Anchor Investors Ahead Of IPO

Pharmacy retail chain MedPlus Health Services has mobilised Rs 418 crore from anchor buyers forward of its preliminary share sale that opens for public subscription on Monday, December 13. The firm has allotted 52.51 lakh fairness shares to anchor buyers at Rs 796 apiece, aggregating to Rs 417.98 crore, in accordance with BSE round.Abu Dhabi Investment Authority, BlackRock Global Funds, Fidelity, Nomura, Goldman Sachs, Morgan Stanley, HFFC Life Insurance Company, ICICI Prudential Life Insurance Company and SBI Life Insurance Co Ltd, SBI Mutual Fund (MF), and Aditya Birla Sun Life MF are among the many anchor buyers.The Rs 1,398-crore preliminary share sale includes recent issuance of fairness shares value Rs 600 crore and a suggestion on the market (OFS) of as much as fairness shares aggregating as much as Rs 798.30 crore by the promoter and present shareholders.MedPlus Health Services' concern with a value band of Rs 780-796 per fairness share will open for public subscription on December 13 and conclude on December 15.The concern features a reservation of fairness shares value Rs 5 crore for the corporate's workers, who will obtain these shares at a reduction of Rs 78 per share to the ultimate concern value.The firm will use the proceeds of the recent concern for funding the working capital necessities of the its subsidiary Optival. Half of the difficulty dimension has been reserved for certified institutional patrons (QIBs), 15 per cent for non-institutional buyers, and 35 per cent for retail buyers.The Hyderabad-based pharmacy retailer affords a variety of merchandise, together with pharmaceutical and wellness merchandise, corresponding to medicines, nutritional vitamins, medical gadgets and take a look at kits, and FMCG merchandise like residence and private care gadgets, together with toiletries, child care merchandise, soaps and detergents and sanitisers. It was additionally the primary pharmacy retailer within the nation to supply an omnichannel platform and continues to scale up its retail retailer community.Axis Capital, Credit Suisse Securities (India), Nomura Financial Advisory and Securities (India) and Edelweiss Financial Services are the ebook working lead managers to the difficulty. The fairness shares are proposed to be listed on BSE and NSE