Wellness Forever Medicare Limited IPO
Wellness Forever Medicare Limited are India’s third-largest retail pharmacy and wellness network by number of stores, with a leading position in western India in terms of total revenues. They operate a large omnichannel, hyperlocal retail network under their “Wellness Forever” brand, serving as a one-stop solution for their customers’ wellness needs with most of their stores operating 24x7. They opened their first drugstore in 2008, and have expanded their retail footprint to a total of 236 stores in 23 cities across the Indian states of Maharashtra, Karnataka and Goa serving a registered customer base of 6.7 million customers as of June 30, 2021.
They focus on providing their customers with a retail experience that goes beyond simply purchasing medicines and key necessities. They offer a wide assortment of merchandise comprising approximately 91,500 pharmaceutical and wellness products, and each of their stores features an average of approximately 13,000 products per store, including fast-moving consumer goods (“FMCG”), fast-moving health goods (“FMHG”), nutraceuticals and medical equipment, among other products, alongside over-the-counter and prescription medicines.
The company has 6 directors and 2 reported key management personnel.
The longest serving directors currently on board are Gulshan Haresh Bakhtiani, Mohan Ganpat Chavan and Ashraf Mohammed Biran who were appointed on 08 February, 2008. They have been on the board for more than 14 years.
The most recently appointed director is Kewal Kundanlal Handa, who was appointed on 01 September, 2021.
Kewal Kundanlal Handa has the largest number of other directorships with a seat at a total of 18 companies. In total, the company is connected to 42 other companies through its directors.
In addition to the vast breadth and depth of their inventory, they also differentiate their brand by their selection of premium wellness products, which they offer through various third-party industry labels as well as their private label brands. Their stores are strategically located, most are open 24-hours a day and are on an average considerably larger in size than those of their main competitors. Most of their stores are designed in a differentiated, self-browsing format and feature qualified pharmacists available at all times. They believe these features promote an aspirational element and help to position themselves as a premium wellness brand.
They seek to become India's most respected chain of pharmacies and wellness stores. According to Technopak, the Indian pharmacy retail space offers attractive opportunities for significant growth based on India’s favourable demographic trends (such as increasing life expectancy), growing levels of disposable income, increased levels of digitization, greater prevalence of chronic diseases, higher access to healthcare coverage and increased overall demand for pharmaceuticals and wellness products. They believe they are well-positioned to leverage their competitive strengths and technological innovations to solidify their leadership in their existing markets, capitalize on India’s growing digital health ecosystem and become a health and wellbeing partner of choice for their customers as they expand their operations.
The entire public offer of Wellness Forever Medicare Limited comprises of fresh issue of Equity Shares aggregating up to₹400 Cr and an Offer for Sale of 1,60,44,709 Equity Shares by the selling shareholders.
Financial Snapshot:
How do I apply to the Wellness Forever Medicare Limited IPO?
You can apply for the Wellness Forever Medicare Limited IPO using any supported UPI app by following two steps:- Enter your bid on Console
- Accept UPI mandate on your phone
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