The Indian pharmaceutical industry is the world\u2019s third-largest by volume and 14th largest by value. The turnover of the country\u2019s pharmaceutical market was estimated at \u20b92.9 trillion in 2020, which is equally divided between the export and domestic markets.<\/p>\n\n\n\n
The domestic pharmaceutical market, which was valued at \u20b91.5 trillion last year, grew at a compound annual rate of approximately 10% over the past five years. It is expected to grow at a similar rate and reach \u20b92.53 trillion by 2025.<\/p>\n\n\n\n
Adar Poonawalla-backed Wellness Forever Medicare Limited recently filed a draft red herring prospectus with market regulator SEBI to raise around \u20b915 billion through an initial public offering. The IPO consists of a fresh issue of shares aggregating up to \u20b94 billion and an offer for sale of up to 16 million shares by shareholders.<\/p>\n\n\n\n
Wellness Forever plans to utilize net proceeds of \u20b9702 million from the offering for the expansion of company-owned stores. Around \u20b91 billion will be used for repayment of borrowings availed by the company. A part of the proceeds will be used for incremental working capital requirements and the remaining amount will be used for general corporate purposes.<\/p>\n\n\n\n
Wellness Forever is one of the largest retail pharmacies and wellness networks by store count and is a leader in Western India in terms of revenues. The company is an omnichannel, hyper-local retail network that serves as a one-stop solution for customers.<\/p>\n\n\n\n
The Mumbai-based pharmacy chain has a network of 236 stores, spanning across Maharashtra, Goa, and Karnataka. The stores are strategically located and are open round-the-clock, mostly.<\/p>\n\n\n\n
Wellness Forever\u2019s revenue grew to \u20b98.71 million in fiscal 2020 from \u20b96.83 million in the previous year. Its profit stood at \u20b9112.5 million, against \u20b980 million a year ago.<\/p>\n\n\n\n
The Indian retail industry is characterized by competition that often puts profit margins under pressure. The company\u2019s main competitors include MedPlus, Noble and Apollo pharmacy. It also faces competition from independent pharmacies, telemedicine providers and e-commerce retailers dealing in prescription medicines.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Indian pharmaceutical industry is the world\u2019s third-largest by volume and 14th largest by value. The turnover of the country\u2019s pharmaceutical market was estimated at \u20b92.9 trillion in 2020, which is equally divided between the export and domestic markets. The domestic pharmaceutical market, which was valued at \u20b91.5 trillion last year, grew at a compound […]<\/p>\n","protected":false},"author":83,"featured_media":124093,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5747,5748,10444,85],"tags":[8157,8248,9191,8145,8749],"class_list":["post-125048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-healthcare-stocks","category-ipo","category-others","category-retail-stocks","tag-healthcare","tag-ipo","tag-medical-distribution","tag-retail","tag-retail-pharmacy"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":124783,"url":"https:\/\/alphastreet.com\/india\/ipo-alert-what-to-expect-when-emcure-pharma-hits-public-markets\/","url_meta":{"origin":125048,"position":0},"title":"IPO Alert: What to expect when Emcure Pharma hits public markets","author":"Nishadkishore","date":"September 3, 2021","format":false,"excerpt":"India's domestic pharmaceutical market is estimated at $42 billion in 2021. It is likely to reach $65 billion by 2024 and further expand to $120-130 billion by 2030. Meanwhile, the Indian domestic formulations market grew at a healthy combined annual rate of 7% from 2018 to 2021. 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Women\u2019s ethnic wear was the largest segment, followed by menswear in the second place representing approximately10% of the total ethnic wear market. 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The retail mutual funds category posted the highest CAGR of over 22% amongst\u2026","rel":"","context":"In "Finance"","block_context":{"text":"Finance","link":"https:\/\/alphastreet.com\/india\/category\/finance-stocks\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":125961,"url":"https:\/\/alphastreet.com\/india\/ipo-alert-api-holdings-files-drhp-with-sebi-for-public-issue\/","url_meta":{"origin":125048,"position":3},"title":"IPO Alert: API Holdings files DRHP with SEBI for public issue","author":"Nishad","date":"November 19, 2021","format":false,"excerpt":"Healthcare spending in India grew at a healthy compound annual rate of 13% from 2015 to 2019 and reached around \u20b99.6 trillion. 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