Medplus Health's downsized IPO opens Monday at price band of Rs 780-796

In August, when the firm filed its offer document with Sebi, IPO size was pegged at Rs 1,638.7 cr. While the fresh issue portion remains the same, OFS portion has been reduced by Rs 240 cr

Pharmacy chain Medplus Health Services has set a price range of Rs 780-796 per share for its Rs 1,398-crore initial public offering (IPO). The share sale opens on December 13 and closes on December 15. Through the IPO, the Warburg Pincus-backed company is planning to raise Rs 600 crore by issuing fresh equity shares. The rest Rs 798 crore is an offer for sale (OFS). Among the selling shareholders are Premji Invest’s PI Opportunities Fund, which is looking to offload shares worth Rs 623 crore and Natco Pharma which is selling shares worth Rs 10 crore.

The company has downsized