Public Market

IPO

Retail pharmacy chain MedPlus files for Rs.1,639-Cr IPO

PTI  

Hyderabad-based pharmacy retail chain MedPlus Health Services has filed preliminary papers with capital markets regulator Sebi to raise INR 1,639 crore through an IPO. The IPO comprises fresh issuance of equity shares worth INR 600 crore and an offer for sale (OFS) of equity shares aggregating up to INR 1,038.71 crore by promoter and existing shareholders. The OFS includes shares aggregating up to INR 450 crore by Lone Furrow Investments, INR 500 crore by PI Opportunities Fund I and INR 88.71 crore by other selling shareholders. Axis Capital, Credit Suisse Securities (India), Nomura Financial Advisory and Securities (India) and Edelweiss Financial Services have been appointed as merchant bankers for the IPO.

From the Venture Intelligence PE-VC Deal Database: In Feb-21, MedPlus raised nearly $79-M from PremjiInvest and Warburg Pincus. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)