About
Wellness Forever Medicare Limited, India’s third-largest retail pharmacy and wellness network by the number of stores, is set to launch an IPO. Established in 2008, the company operates 236 stores in 23 cities across Maharashtra, Karnataka, and Goa, serving 6.7 million registered customers as of June 30, 2021. Known for its 24×7 operational stores, Wellness Forever offers approximately 91,500 pharmaceutical and wellness products, including FMCGs, FMHGs, nutraceuticals, and medical equipment.
The brand differentiates itself with a premium selection of wellness products, both from third-party labels and private brands. Their larger-than-average stores feature a self-browsing format and qualified pharmacists, enhancing the customer experience. The omnichannel retail network includes a website, mobile app, and toll-free call centre, enabling rapid delivery of products within two to six hours.
Wellness Forever aims to become India’s most respected chain of pharmacies and wellness stores. According to Technopak, significant growth opportunities exist in India’s pharmacy retail space due to favourable demographics, rising disposable income, increased digitization, and higher healthcare coverage. The company plans to leverage its strengths and technological innovations to solidify its leadership and expand its operations. The IPO comprises a 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.
Financials
*All figures except EPS are in ₹ Crores