Quote on Medplus Health Services Limited IPO fully subscribe, should investor apply for listing gains By Yash Gupta, Angel One Ltd
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Below is quote on Medplus Health Services Limited IPO fully subscribe, should investor apply for listing gains By Mr. Yash Gupta, Equity Research Analyst, Angel One Ltd
Medplus Health Services Limited IPO fully subscribe on day 2, overall IPO subscribed 1.01 times. The company is receiving a good response from retail investors as the retail investor portion subscribed by 1.87 times, while Qualified Institutional Buyer (QIB) and Non Institutional Investors (NII) were not fully subscribed on day 2.
Looking at the valuations based on H1FY2022 numbers, the IPO is priced at an EV/EBITDA of 27.5 times and price to sales at 2.5 times at the upper price band of the IPO. Medplus is the second largest pharmacy retailer in India, company offer a good value proposition to its customer in terms of the discount, a wide range of product and fast delivery. We believe that the company omnichannel platform will help to deliver strong growth in future. Hence, we are assigning a “SUBSCRIBE” recommendation to the Medplus Health Services Limited IPO.
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