₹1,040 per share on the NSE, a premium of over 30% as compared to its IPO issue price of ₹796 apiece. On BSE, MedPlus shares started the trade on its first day at ₹1,050.
The initial public offering (IPO) of MedPlus Health was subscribed 52.59 times. The public issue had a fresh issue of up to ₹600 crore and an offer-for-sale (OFS) of up to ₹798.3 crore.
The company had fixed a price range for the offer at ₹780-796 per share. The proceeds from the fresh issue is aimed to be used for funding the working capital requirements of the company's subsidiary Optival.
MedPlus was founded in 2006 by Gangadi Madhukar Reddy, who is the company's managing director and chief executive officer (CEO).