 "Adar Poonawalla, CEO, Serum Institute")
Adar Poonawalla backed pharmacy chain Wellness Forever Medicare is planning to go for an initial public offering (IPO) to raise between Rs 1,500-1,600 crore.
The omni-channel retail pharmacy chain has already filed a draft red herring prospectus with the market regulator. The pharmacy chain’s revenue for the financial year ended March 31, 2021, grew to Rs 924.02 crore, from Rs 863.25 crore in the previous fiscal year.
This will be the second pharmacy chain to file for an IPO after Hyderabad-based MedPlus, which filed its DRHP with Sebi in August.
The IPO consists of a fresh issue of equity shares
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