Initial Public Offer: MedPlus Health files for Rs 1,639 crore IPO

Pharmacy retail chain MedPlus Health Services has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (Sebi )to raise Rs 1,639 crore through an initial share sale. The initial public offering (IPO) consists of fresh issuance of equity shares worth Rs 600 crore and an offer for sale (OFS) of up to equity shares aggregating up to Rs 1,038.71 crore by promoter and existing shareholders, according to the draft red herring prospectus (DRHP).

 The Offer for Sale comprises equity shares aggregating up to Rs 450 crore by Lone Furrow Investments, equity share aggregating up to Rs 500 crore by PI Opportunities Fund - I and equity shares aggregating up to Rs 88.71 crore by other selling shareholders, consisting of certain entities and individual selling shareholders. Proceeds of the fresh issue will be used for funding working capital requirements of the company's subsidiary, Optival.

The Hyderabad-based pharmacy retailer, MedPlus Health Services, offers a wide range of products, including pharmaceutical and wellness products such as medicines, vitamins, medical devices and test kits, and FMCG products such as home and personal care products, including toiletries, baby care products, soaps and detergents and sanitizers.

IPO Markets: Sebi cuts post IPO lock-in for promoters to 18 months

GAIL India expands its presence in petrochemicals, downstream biz to capture market share

Reserve bank of India introduces Financial Inclusion index

 

- Sponsored Advert -

Most Popular

- Sponsored Advert -