MedPlus Health IPO Subscribed 0.7 Times On Day 1
Get the latest subscription updates from day 1 of MedPlus Health Services IPO.
MedPlus Health Services Ltd. kicked off its initial public offer on Monday.
The IPO comprises a fresh issue of shares worth Rs 600 crore and an offer for sale of up to Rs 798.3 crore, the Hyderabad-based company said in its red herring prospectus. It is seeking a market value of Rs 9,496 crore at the upper end of the price band.
The IPO includes a reservation of equity shares worth Rs 5 crore for the company’s employees at a discount of Rs 78 apiece. Around 35% of the net offer is for retail, while 50% is for qualified institutional buyers, and 15% is for non-institutional buyers.
Besides general corporate purposes, the company plans to invest Rs 467.2 crore into its subsidiary Optival Health Solutions Pvt. for funding working capital requirements. This is estimated to be done over a period of three years.
Subscription Details: Day 1
The IPO was subscribed 0.70 times as of 5 p.m. on Dec. 13.
Institutional investors: 0.06 times.
Non-institutional investors: 0.16 times.
Retail investors: 1.29 times.
Employees: 0.76 times.