MedPlus Health Services shares will debut in the secondary market on Thursday. Hyderabad-based pharmacy retailer MedPlus Services commanded a premium in the grey market ahead of the listing on stock exchanges BSE and NSE. Dealers said MedPlus Health Services' GMP or grey market premium stood at Rs 180 on Thursday prior to the listing.

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The debut of MedPlus Health shares on Dalal Street comes at a time when most IPOs have received a robust response from investors.

Here's what MedPlus Health Services' GMP has been like in the recent past:

MedPlus Health GMP

Source: IPO Watch

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“The recent fall in the broader market has shunned sentiments in the primary market, resulting into disappointing listings... However, after two days of recovery, we may expect a boost in the sentiments which should ensure a positive listing for Medplus Health," Abhay Doshi, Co-Founder of Unlisted Arena, a portal that tracks grey markets and deals in unlisted securities, told CNBCTV18.com.

He expects MedPlus shares to list at a premium of 15-20 percent over the issue price. "The issue was successful in captivating interest from market participants despite its pricey valuations," he said.

MedPlus Health's IPO, which was open for bidding from December 13 to December 15, saw an overall subscription of 52.6 times the shares on offer.

MedPlus shares were available for bidding in a price range of Rs 780-796 apiece during the IPO, 50 percent of which was reserved for qualified institutional buyers (QIBs), 35 percent for retail investors and 10 percent for non-institutional investors (NIIs).

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The portions reserved for QIBs and NIIs were booked 111.9 times and 85.3 times respectively, and that for retail investors 5.2 times.

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First Published:Dec 23, 2021 8:43 AM IST