Shares of pharmacy retail chain MedPlus Health Services debuted on a strong note and got listed at a premium of over 30 per cent from their issue price in the stock exchanges today.
The scrip got listed at Rs 1,040.00 apiece on the National Stock Exchange (NSE), thereby registering a gain of 30.65 per cent from its offer price of Rs 796.00, while on the BSE, it opened at Rs 1,015.00, up 27.51 per cent from the issue price.
The stock inched higher from its opening levels and within minutes touched a high of Rs 1,119.95 on BSE and Rs 1,120.00 on NSE. However, it gave up some of its gains a little later.
At 10:30 am, the scrip was trading at Rs 1,096.00 on the BSE, up 37.69 per cent from the issue price while on NSE it was at Rs 1,097.70, up 37.90 per cent. The market capitalisation stood at Rs 13,074.71 crore, data from the BSE showed.
Over 1.14 crore shares of Medplus Health were traded so far on NSE while around 9.10 lakh shares have exchanged hands on the BSE, data from the respective stock exchange showed.
Established in 2006, MedPlus is an omnichannel platform. It is presently India’s second-largest pharmacy retail network of over 2,000 stores distributed across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal and Maharashtra, as of March 31, 2021.
The IPO was met with a great demand during its offer period from December 13-15, 2021. It saw 52.59 times subscription on the final day.
