MedPlus IPO GMP, Date, Price, Review, Important detail 2021
MedPlus Health Services Limited is India’s second biggest pharmacy retailer in terms of income from operations for the fiscal year 2021 & number of stores as of March 31, 2021 as per the Technopak Report. MedPlus IPO will the market in October 2021.
About Medplus Health Services
MedPlus Health Services Limited was incorporated in 2006 by Gangadi Madhukar Reddy, the company’s Managing Director and Chief Executive Officer, with the goal of creating a trusted pharmacy retail brand that provides genuine medicines and stronger value to customers by reducing supply chain inefficiencies through technology.
They sell a wide range of items, including pharmaceutical and wellness products like medications, vitamins, medical equipment, and test kits, and also fast-moving consumer goods like toiletries, infant care products, soaps and detergents, and hand sanitizers. They’ve kept a laser-like emphasis on expanding their shop network.
Growth
According to the Technopak Report, the company has grown from operating 48 stores in Hyderabad at its inception to operating India’s second largest pharmacy retail network with over 2,000 stores spread across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal, and Maharashtra as of March 31, 2021.
As per the Technopak report, their share of the organised pharmacy retail market in Chennai, Bangalore, Hyderabad, and Kolkata for the financial year 2021 was approximately 30 30 percent, 29 percent, 30 percent, and 22 percent, respectively, due to their concentrate on expanding and gaining leadership in the main markets where they operate.
Stores
They have proceeded to diversify their store footprint in main markets where they operate with the number of retail outlets in Chennai increasing by over four-fold from 62 to 293 stores between March 31, 2010 and June 30, 2021.
The number of retail outlets in Bangalore increasing by three-fold from 110 to 331 stores and the number of shops in Hyderabad increasing by over two-fold from 141 to 309 stores.
The number of retail outlets in Kolkata increasing by over two-fold from 141 to 309 shops. According to the Technopak data, they ranked first in Chennai and Bangalore in regard of outlet count as of March 31, 2021, and second in Hyderabad and Kolkata.
Business Approch
They take a data analytics-driven cluster-based strategy to broadening their supply chain.
- They first obtain increased shop density in a richly inhabited residential location within a target town before increasing their store network in the surrounding regions of that town, accompanied by growth into other neighbouring urban centres.
- Their knowledge of the regional trends, market dynamics, and their capacity to facilitate store development with back-end infrastructure, including warehouses and distribution centres, all contribute to their cluster-based strategy to retail network expansion.
MedPlus IPO
MedPlus Health Services Limited, headquartered in Hyderabad has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of INR 16,387.16 million on 16 August 2021.
The Offer includes INR 6,000 million value’s fresh equity shares and There is an offer for sell(OFS) of INR 10,387.16 million value equity shares by the promoters mentioned in the DRHP.
They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.
Originally published at https://profitmust.com on August 18, 2021.
