MedPlus Health Services files IPO papers to raise Rs 1,639 crore

MedPlus Health Services, the pharmacy retail chain plans to raise Rs 1639 Crores from its public offering. The company is backed by Premji investments and Warburg Pincus and has already filed all the required preliminary papers with SEBI for rolling out IPO.

The IPO is expected to include a fresh issue of equity shares amounting to Rs 600 Crores and an offer for sale from the company’s existing shareholders and promoters worth Rs. 1038.71 crores, as stated in the Draft Red Herring Prospectus.

The company has also reserved a portion of its IPO for the company employees. The capital raised from the IPO will be utilized for fulfilling the requirements of working capital of the company’s subsidiary – Optival.

If everything goes as planned, MedPlus will be the first listed pharmacy chain of India.

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