Medplus Health Services shares jump nearly 41% in debut trade

Shares of Medplus Health Services on Thursday listed with a premium of nearly 31 per cent against the issue price of Rs 796 and settled with a gain of nearly 41 per cent.

The stock listed at Rs 1,015, a gain of 27.51 per cent against the issue price on BSE. During the day, it zoomed 43.60 per cent to Rs 1,143.10. It jumped 40.81 per cent to close at Rs 1,120.85.

On NSE, it made its debut at Rs 1,040, reflecting a gain of 30.65 per cent. It zoomed 40.70 per cent to close at Rs 1,120.

Its market valuation stood at Rs 13,372.38 crore.

In volume terms, 11.99 lakh shares were traded on BSE and over 1.84 crore shares on NSE.

The initial public offering of pharmacy retail chain MedPlus Health Services Ltd was subscribed 52.59 times last week.

The Rs 1,398.3-crore IPO had a price range of Rs 780-796 per share.

MedPlus was founded in 2006 by Gangadi Madhukar Reddy, who is the company's managing director and chief executive officer.

The Hyderabad-based pharmacy retailer offers a wide range of products, including pharmaceutical and wellness products, such as medicines, vitamins, medical devices and test kits, and FMCG products like home and personal care items, including toiletries, baby care products, soaps and detergents and sanitisers.

Medplus was also the first pharmacy retailer in India to offer an omnichannel platform and continues to scale up its retail store network.