Medplus Health Services and 2 more IPOs coming this week


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No less than three IPOs will be unveiled this week on primary markets

This week, up to three public issues will be launched, keeping the primary market as well as investors busy.

Let’s take a look at the next Initial Public Offerings (IPOs) that will arrive in the next few days:

Medplus Health Services IPO

Pharmacy retailer Medplus Health Services will unveil its IPO for subscription tomorrow, December 13.

The show will open between December 13 and 15, 2021 and the company plans to raise Rs 1,398 crore with it.

Its price range is Rs 780-796 per share. The IPO will include a new issue with a value of Rs 600 crore of shares as well as an offer to sell (OFS) with a maximum value of Rs 798 crore of shares by the promoters and existing shareholders.

It will have 50 percent of the net issuance reserved for Qualified Institutional Buyers (QIB) while 35 percent and 15 percent of the shares have been reserved for retail and non-institutional investors, respectively.

Shares worth Rs 5 crore have been reserved for employees of the pharmacy chain. A discount of Rs 78 will be given to eligible employees on the final issue price.

Established in 2006, MedPlus is the second largest retail pharmacy chain in the country with a mix of fresh equity worth Rs 600 crore and an offer to sell (OFS) totaling up to Rs 798 crore by the sponsor and existing shareholders.

The proceeds from the new issue will be used to finance the working capital requirement of the Company’s subsidiary, Optival.

Data Patterns India IPO

The Rs 588 crore IPO of Data Patterns India, a provider of electronics solutions for defense and aerospace, will open from December 14-16.

Its price range has been set at Rs 555-585 per share.

The public offering consists of a new issue of shares worth Rs 240 crore and an OFS of 59.52 lakh shares by the promoters and individual selling shareholders.

Data Patterns has reduced the size of its new issue to Rs 240 crore from Rs 300 crore expected earlier.

According to market watchers, its shares attracted a premium of Rs 475 on the gray market on December 10.

The OFS includes the sale of up to 19.67 lakh shares each by Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan, up to 75,000 shares by Sudhir Nathan, up to 4.15 lakh shares by GK Vasundhara and up to 15.28 lakh shares by other existing shareholders.

The proceeds of the new issue will be used for debt repayment, financing of its working capital and the modernization and expansion of its existing facilities in addition to the general objectives of the company.

The company’s shares are expected to go public on December 24, 2021.

Founded by Srinivasagopalan Rangarajan and Rekha Murthy Rangarajan, Data Patterns is a vertically integrated defense and aerospace electronics solutions provider that meets the needs of space, air, land and sea.

IIFL Securities and JM Financial are primarily responsible for the issue.

HP Adhesives IPO in India

HP Adhesives is a multi-product, multi-category consumer adhesives and sealants company, and its public offering will be open for subscription between December 15 and December 17, 2021.

HP Adhesives has set the price range for its first public offering at Rs 262-274 per share.

Investors will be able to bid on a minimum of 50 shares at Rs 13,700 in the upper price range, and in multiples of 50 shares thereafter.

Retail investors will be able to bid for a maximum of 14 lots or 700 shares at Rs 1,91,800 in the upper price bracket, as auctions for retail investors in IPOs are capped at Rs 2 lakh.

The IPO of 45.97 lakh shares includes a new issue of 41.40 lakh shares and an OFS of 4.57 lakh shares by Anjana Haresh Motwani.

The proceeds from the new issue will be used to meet the company’s working capital needs and the expansion of the production capacity of its existing manufacturing plant in Narangi village in Raigad district in Maharashtra and in a additional unit on the adjacent plot.

The company will also increase the installed capacities for its product lines and also expand the portfolio.

In its largest product category, PVC Solvent Cement, HP Adhesives is among the leading manufacturing companies in India.

Its adhesives and sealants are used in many industries such as plumbing and sanitary ware, drainage and water supply, and general purpose buildings, among others.

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