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According to the Technopak Report, MedPlus Health Services Limited is India’s second-largest pharmacy operator in terms of income from operations for the financial year 2021 and the number of outlets as of March 31, 2021. The Medplus IPO will take place on December 13, 2021.
About MedPlus Health Services Limited Company
Gangadi Madhukar Reddy, their Managing Director, and Chief Executive Officer founded their company in 2006 intending to make a reliable pharmacy retail brand that offers genuine medicines and provides greater value to customers by minimizing inefficiencies in the supply chain through innovation. According to the Technopak Report, they are India’s second-largest pharmacy retailer in terms of revenue from operations for the financial year 2021 and store count as of March 31, 2021. Medplus IPO sells a variety of products, including pharmaceutical and wellness products like medicines, vitamins, medical gadgets, and test kits, as well as fast-moving consumer goods like toiletries, infant care products, soaps, and detergents, and hand sanitizers.
The company has a robust pharmacy retail network of 2,165 outlets throughout Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal, and Maharashtra as of June 30, 2021. Based on revenue from operations in Chennai, Bangalore, Hyderabad, and Kolkata in the financial year 2021, its share of the organized pharmacy retail market was 30 percent, 29 percent, 30 percent, and 22 percent, respectively. It employs a cluster-based retail network growth strategy, in which it first establishes a high shop concentration in a densely populated residential area inside a target market. Bengaluru, Chennai, Hyderabad, Vijaywada, Kolkata, Pune, Bhubaneshwar, Mumbai, and Nagpur are among the company’s warehouses. Gangadi Madhukar reddy, lone furrow investments private limited, and agilemed investments private limited are the company’s promoters. Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Edelweiss Financial Services Limited, and Nomura Financial Advisory and Securities (India) Private Limited are the issue’s lead managers, and KFin Technologies Private Limited is the issue’s Registrar.
Medplus Health IPOCompetitive Advantages
Some of the major Competitive advantages are as follows:
A powerful brand name and a compelling customer value proposition.
In India, it is the second-largest pharmacy store.
Customers are the first to benefit from an Omni-channel platform provided by a pharmacy.
In Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Odisha, West Bengal, and Maharashtra, there are about 2000 pharmacies.
A highly qualified, experienced, and competent management team.