Medplus 'Healthy' listing
By
Ruma Dubey
about 2 years ago
Medplus Health made a very strong debut today on the BSE. As against the IPO price of Rs.796, the stock got listed at Rs.1015, a premium of over 27%. It also saw an intraday high at Rs.1119.95 and is now trading at Rs.1100 levels.
The stock was expected to have a good listing based on the response to its IPO, which was subscribed over 52-times. The HNIs category was subscribed 85 times, QIBs by 112 times and Retail investors by 5.24 times.
In our IPO Analysis, we were optimistic, concluding, “Company is a high-growth candidate, given private label push and new store penetration in tier 2/3 towns, with healthy margins and a scalable business model. Hence, we recommend subscribing to the IPO.”