Wellness Forever Medicare IPO
Wellness Forever Medicare COMPANY INFORMATION
Established in 2008, Wellness Forever Medicare Limited is a prominent retail pharmacy and wellness network in India. As of June 30, 2021, the company operates over 236 stores across 23 cities in Maharashtra, Karnataka, and Goa, serving approximately 6.7 million registered customers. Known for its 24×7 operational stores, Wellness Forever offers a diverse range of products, including pharmaceuticals, wellness items, FMCGs, FMHGs, nutraceuticals, and medical equipment.
Founding and Leadership
The company was founded by three seasoned professionals from the pharmaceutical industry:
- Mr. Ashraf Biran – Founder and Director
- Mr. Gulshan Haresh Bakhtiani – Founder and Director
- Mr. Mohan Ganpat Chavan – Founder and Director
Their combined expertise has been instrumental in shaping Wellness Forever's growth and success.
Vision and Mission
- Vision: To create a chain of pharmacies that deliver unmatched performance in terms of product availability, lowering healthcare costs, and providing value-added services.
- Mission: To become India's most respected chain of pharmacies and wellness stores by the year 2024.
Core Values
- Building an organization based on trust, compassion, and meritocracy.
- Passionately empowering people and transforming lives.
- Promoting happiness and wellness for all.
Services and Operations
Wellness Forever distinguishes itself by offering:
- Round-the-Clock Service – Ensuring accessibility at all times.
- Extensive Product Availability – Maintaining a wide range of stock to meet diverse customer needs.
- Authentic Medicines – Providing genuine medicines sourced from reputable manufacturers and distributors who comply with FDA standards.
Financial Performance
For the fiscal year ending March 31, 2024, Wellness Forever Medicare Limited reported:
- Total Revenue: ₹1,000 crore, marking a 7.43% increase from the previous year.
- Profit: Experienced a 64.27% decrease, indicating a substantial fall in profitability.
- Net Worth: Observed a decline of 13.52%.
Workforce
As of January 30, 2025, the company employs approximately 5,147 individuals, including over 1,000 qualified pharmacists, reflecting its commitment to professional healthcare services.
Expansion and Future Plans
Wellness Forever aims to expand its footprint by adding over 150 stores in the next year and reaching 1,000 retail outlets in the next three years. The company is also preparing to launch an Initial Public Offering (IPO), comprising a fresh issue of equity shares aggregating up to ₹400 crore and an Offer for Sale of 16,044,709 equity shares by the selling shareholders.
As the demand for healthcare and wellness services continues to grow, Wellness Forever Medicare remains committed to expanding its pharmacy network, enhancing customer experience, and driving innovation in the retail pharmacy industry. For more details, refer to the SEBI filing.
Wellness Forever Medicare IPO
Wellness Forever Medicare IPO Overview and Key Highlights
Wellness Forever Medicare, a Mumbai-based pharmacy and wellness retailer, is launching its Initial Public Offering (IPO). The IPO consists of a fresh issue of equity shares aggregating up to ₹4,000 million and an Offer for Sale (OFS) of up to 16,044,709 equity shares by existing shareholders. The proceeds from the fresh issue will be used for business expansion, debt repayment, and general corporate purposes. The shares will be listed on NSE and BSE.
Wellness Forever Medicare Key IPO Details
- Type of Issue • 100% Book Built Issue
- Total Issue Size • Fresh Issue of ₹4,000 million + OFS of 16,044,709 equity shares
- Face Value • ₹2 per share
- Issue Price • To be determined
- Offer Opens • To be announced
- Offer Closes • To be announced
- Listing Exchange • NSE & BSE
- Offer Structure • Allocation for QIBs, NIIs, and RIIs as per SEBI guidelines
Wellness Forever Medicare Company Overview
Wellness Forever Medicare was incorporated as Wellness Forever Medicare Private Limited in 2008 and later converted into a public company in 2021. The company operates a retail pharmacy and wellness chain catering to both prescription and over-the-counter (OTC) medicine demand, along with personal care, FMCG, and wellness products.
- Promoters • Ashraf Mohammed Biran, Gulshan Haresh Bakhtiani, and Mohan Ganpat Chavan
- Headquarters • Mumbai, Maharashtra
- Corporate Identification Number (CIN) • U24239MH2008PLC178658
Wellness Forever Medicare Financial Overview
Wellness Forever Medicare has shown consistent revenue growth, benefiting from India's expanding healthcare and pharmacy retail sector. The IPO proceeds will be used to increase store count, enhance digital presence, and strengthen financial stability.
Key Strengths of Wellness Forever Medicare
- Market Leader in Pharmacy Retail • One of India's largest pharmacy chains with a strong presence in Western India.
- Omnichannel Presence • Operates retail stores, e-commerce platforms, and home delivery services.
- Diverse Product Portfolio • Offers pharmaceuticals, nutraceuticals, personal care, and FMCG products.
- Strong Customer Loyalty • Trusted brand with a focus on customer convenience and 24/7 store operations.
Wellness Forever Medicare IPO Pros and Cons
Pros
Growing Healthcare & Pharmacy Market • Rising health awareness and medical spending in India.
IPO Proceeds Utilization • Focus on store expansion, digital growth, and reducing debt.
Established Retail Network • Strong brick-and-mortar presence with omnichannel integration.
Cons
Competitive Industry • Faces competition from Apollo Pharmacy, MedPlus, and e-pharmacy players.
Retail Expansion Costs • High store leasing and operational expenses.
Regulatory Compliance • Subject to drug and retail industry regulations.
Wellness Forever Medicare Risk Factors
Potential investors should consider the following risks before investing:
- Market Dependency • Revenue linked to pharmaceutical and retail demand trends.
- Operational Challenges • Managing inventory, supply chain, and store profitability.
- Regulatory Compliance • Adherence to pharmaceutical retail and GST regulations.
FAQs About Wellness Forever Medicare Ipo
Wellness Forever Medicare IPO will open on and close on . Investors must apply within this period to participate.
The Wellness Forever Medicare IPO price band is set between ₹0.00 and ₹0.00 per share. The minimum lot size is 0, requiring an investment of at least ₹0.00.
The Wellness Forever Medicare IPO shares are expected to be listed on , subject to regulatory approvals and final allotment.
You can track your Wellness Forever Medicare IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Wellness Forever Medicare IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.