MedPlus Health Services IPO
MedPlus Health Services Limited (MEDPLUS) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 23 December 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +24.2% (likely range +12% to +68%), day's high +33.8%, chance of a gain 97%. Actual: +30.6% at the open, +43.7% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 35,72,550 | 39,97,61,316 | 112x | |
| NII (HNI) total | 26,79,414 | 22,86,43,524 | 85.3x | |
| Retail | 62,51,965 | 3,27,44,898 | 5.23x | |
| Employees | 71,225 | 2,17,530 | 3.05x | |
| Total | 1,25,75,154 | 66,13,67,268 | 52.6x |
Bids on NSE and BSE together, as published by NSE. Shares offered exclude the anchor portion. 4% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to MedPlus Health Services's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Polycab IndiaApr 2019 | 92.4x | 110x | 4.65x | 52.0x | ₹1,353 Cr | +17.7% | +24.1% |
| AU Small Finance BankJun 2017 | 78.8x | 144x | 3.52x | 53.6x | ₹1,913 Cr | +48.0% | +52.8% |
| Prataap SnacksSep 2017 | 76.9x | 101x | 8.48x | 47.4x | ₹485 Cr | +35.4% | +40.6% |
| Dodla DairyJun 2021 | 84.9x | 73.3x | 11.3x | 45.6x | ₹520 Cr | +28.5% | +52.3% |
| RBL BankAug 2016 | 85.1x | 198x | 5.70x | 69.6x | ₹1,219 Cr | +21.9% | +35.8% |
| Reliance Nippon Life Asset ManagementOct 2017 | 118x | 209x | 5.65x | 81.5x | ₹1,542 Cr | +17.4% | +18.6% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| Credit Suisse Securities (India) | 11 | +15.6% | 82% |
| Edelweiss Financial Services | 16 | +25.0% | 69% |
| Nomura Financial Advisory and Securities (India) | 27 | +16.0% | 56% |
Offer documents (NSE)
Frequently asked
What is the MedPlus Health Services IPO price band and lot size? ₹780–796 per share, with a lot of 18 shares, so the smallest retail bid is ₹14,328.
How many times has it been subscribed? 52.6x overall: QIB 112x, NII 85.3x, retail 5.23x, employees 3.05x.
How did it list? It opened at ₹1,040, +30.6% against the issue price of ₹796, and closed its first day +40.9%.
