Pharmacy retail chain MedPlus Health’s shares will list on the bourses tomorrow, i.e. on Thursday, December 23. In the grey market, the company’s shares were trading at a premium of Rs 85 on Wednesday, much lower than the grey market premium (GMP) of Rs 160 of December 21.
MedPlus Health Services’ initial public offer (IPO) was subscribed 52.59 times on the last day of issue which concluded on December 15. The Rs 1,398.3-crore IPO received bids for 66,13,67,268 shares against 1,25,75,154 shares on offer.
The IPO had a fresh issue of up to Rs 600 crore and an offer for sale (OFS) of up to Rs 798.30 crore. The price range for the three-day initial share sale was ₹780-796 per share.
MedPlus Health had garnered Rs 418 crore from anchor investors ahead of its public issue.
Proceeds of the fresh issue will be used for funding working capital requirements of the company’s subsidiary, Optival.
The company’s shares will list on both the NSE and the BSE.