Medplus Health Services Limited

MedPlus Health Services is a pharmacy retail chain founded in 2006 that operates a large network of branded pharmacy stores. Its outlets combine prescription and over the counter medicines with wellness products, medical devices and everyday household and personal care items, positioning the chain as a one stop store for routine healthcare and daily essentials rather than just a medicine counter. The company was started by Gangadi Madhukar Reddy, who continues to lead it, and grew from a small cluster of stores in Hyderabad into one of the largest pharmacy retail networks in India. By the time of its stock market debut in December 2021, it operated more than two thousand stores spread across seven states, including Telangana, Andhra Pradesh, Tamil Nadu, Karnataka, Odisha, West Bengal and Maharashtra. The business relies on its own supply chain, warehousing and technology systems to manage inventory, pricing and store operations across this large network, and describes itself as India's second largest pharmacy retailer by both store count and revenue. Its growth approach centers on adding stores within existing city clusters to deepen density, expanding its own label and general merchandise range alongside pharmaceuticals, and using in house logistics and point of sale systems to keep operating costs down as the chain scales.

Ahead of the offer, the company raised about Rs 417.99 crore from anchor investors at the cap price of Rs 796 per share. Participants included global institutions such as the Abu Dhabi Investment Authority, BlackRock Global Funds, Goldman Sachs, Morgan Stanley, Fidelity, Nomura, Wasatch and Carmignac, alongside domestic investors including HDFC, ICICI Prudential, SBI and Nippon Life mutual funds and insurers.