Post Listing Comment on Medplus IPO By Mr. Santosh Meena, Swastika Investmart Ltd
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Below is the Post Listing Comment on Medplus IPO by Mr. Santosh Meena, Head of Research, Swastika Investmart Ltd
The IPO was subscribed 52 times and debuted at Rs 1040 per share as opposed to the issue price of Rs 796, a 30% premium. Long-term investors should hold the stock and it might turn into a wealth creator in the next 2-3 years, however, short-term investors are advised to keep an SL of Rs 875. MedPlus has an omnichannel platform and is the second-largest pharmacy retailer. We believe the growth opportunities from the industry will justify the company's valuation in the long run, even if it appeared to be expensive at first glance.
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