Hotline: 1800 102 2007
Hotline: 1800 102 2007
Nov, 14 2019

Medplus aims to raise Rs 700 cr via IPO to expand its store count

Currently, the pharmacy retail chain is operating 1,700 outlets across seven states.

By Features Writer
Medplus aims to raise Rs 700 cr via IPO to expand its store count

Medplus is aiming for an Initial Public Offering (IPO) to raise about Rs 700 crores.

Currently, the pharmacy retail chain is operating 1,700 outlets across seven states. it targets to take the number of outlets to 3,100 by 2023 pan India, barring Jammu and Kashmir, Northeast and parts of UP

Madhukar Gangadi, Promoter of MedPlus Health Services Pvt Ltd, said, “We want to start the work (preparation of Draft Red Herring Prospectus-DRHP). We will start from December. We are planning to raise about Rs 700 crore. This is for our growth plans. I also want to offload some stake to take care of the promoter level debt. But the amount is mainly for growth.”

The promoters hold 77% in Medplus while Wipro Chairman Azim Premji's Premji Invest holds 13% and the rest is held by others.

The company is expecting Rs 2800 crore topline by the end of the current fiscal with Rs 85 crore EBITDA (Earnings before interest, tax, depreciation and amortization) margins.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Preschools
    In this present Generation most of the individuals lack in..
    Locations looking for expansion Haryana
    Establishment year 1981
    Franchising Launch Date 2020
    Investment size Rs. 10000 - 50000
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Car Maintanance & Repair Services
    Welcome to the world of Certified Castrol Auto Service workshops..
    Locations looking for expansion Maharashtra
    Establishment year 2021
    Franchising Launch Date 2021
    Investment size Rs. 5lac - 10lac
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Robotics & Technical Training
     About Us:  ROBOTICS AND STEM learning.  TinyBots is an initiative of a scienc..
    Locations looking for expansion Maharashtra
    Establishment year 2012
    Franchising Launch Date 2019
    Investment size Rs. 50000 - 2lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Pune Maharashtra
  • Quick Service Restaurants
    About Us: SHANGZ don't just make Asian Food, we try to..
    Locations looking for expansion Chandigarh
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Chandigarh Chandigarh
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities