Medplus Health Services Ltd. share price target

Quarterly Update Q3FY25

Initiating Coverage Report

wellness products, including medicines, vitamins, medical devices and test kits, and (ii) fast-moving consumer goods, such as home and personal care products, including toiletries, baby care products, soaps and detergents, and sanitizers. Medplus has 3 manufacturing plants in Telangana, manufacturing range...

Issue Snapshot: Issue Open: Dec 13 Dec 15 2021 Price Band: Rs. 780 796 (Discount of Rs 78 for All eligible employees) *Issue Size: Rs 1398.3 cr (Fresh issue of Rs 600 cr + Offer for sale of Rs 798.3 cr) Reservation for: QIB Upto 50% eq sh Non Institutional atleast 15% eq sh Retail atleast 35% eq sh Employee: upto Rs 5 cr Face Value: Rs 2 Book value: Rs 73.71 (Sep 30, 2021) Bid size: - 18 equity shares and in multiples thereof 100% Book built Issue Medplus Health Services Limited - IPO Note

18 Equity Shares and in multiples thereof. Public issue of 17,566,520 Equity shares of Face value Rs. 2 each, (Comprising of fresh issue of 7,537,688 Equity Shares* (Rs. 600 cr.) and Offer for Sale of...

IPO NOTE

Medplus Health Services is the second largest pharmacy retailer in India, in terms of (i) revenue from operations for the financial year 2021, and (ii) number of stores as of March 31, 2021. Company offer a wide range of products, including (i) pharmaceutical and wellness products, including medicines, vitamins, medical devices and test kits, and (ii) fast-moving consumer goods, such as home and personal care products,...

Medplus Health Services Limited was incorporated in November 2006 by Gangadi Madhukar Reddy with other promoters. Medplus is the 2nd largest pharmacy retailer in India, in terms of the number of stores as of March 31, 2021, and in terms of revenue from the operation. Medplus offers a wide range of pharmaceutical products and fast-moving

Strengthen the market position by increasing store penetration in existing clusters and developing new clusters Further develop the Omni-channel platform with a hyperlocal delivery model with the aim to increase online sales revenue contribution and at the...

We recommend SUBSCRIBE' to the IPO of Medplus Health Services Ltd (Medplus), a compelling omni- channel play in healthcare retailing as 1) profitable operations despite higher discounts across omni-channel deliveries, given its fully integrated offerings and 2) huge scope to grow as industry moves from unorganized to organized omni- channel players (10% CAGR in Indian retail pharmacy market in next five years). we expect Medplus will gain scale and profitability given 1) faster pace of store expansion (60-70 new stores/month) 2) benefits of economic of scale and 3) faster break-even...