Rodec Pharma IPO

About Rodec Pharma IPO

Rodec Pharma IPO comprises only offer for sale. There’s no fresh issue in this IPO. The offer for sale aggregates up to 56,50,000 shares. It’s a 100% book-built issue. The price band is [TBA].

Rodec Pharma IPO opens on [TBA] and closes on [TBA]. The allotment of shares will take place on [TBA]. The credit of shares to the Demat account will take place on [TBA]. The initiation of refunds will take place on [TBA].

The listing of shares will take place on [TBA]. The lot size of shares in the IPO is [TBA]. The minimum investment amount required by a retail investor is ₹[TBA] based on the upper price. The minimum lot for retail investors in this IPO is [TBA].

Rodec Pharma is engaged in the manufacturing of animal feed supplements and marketing of veterinary pharmaceutical drugs and animal feed supplements to address healthcare and nutritional requirements of livestock animals under the for the animal healthcare sector.

Objectives of Rodec Pharma IPO

The objects of the offer are to:

• Carry out the offer for sale of up to 56,50,000 equity shares
• Achieve the benefits of listing the equity shares on stock exchanges

The company will not receive the proceeds from the offer and all the offer proceeds will be received by the promoter selling shareholder after deduction of offer related expenses and relevant taxes thereon.

Industry Outlook

The animal healthcare industry in India is a critical component of the country’s livestock and agricultural ecosystem. India has about 536.8 million livestock, including 303.8 million bovines (cattle, buffalo, mithun and yak), according to the 20th Livestock Census, and is the largest milk producer globally with a significant role in meat and egg production.

Animal healthcare supports livestock productivity, disease control, food safety, and rural livelihoods. The livestock sector contributes 5.5% to national GVA and 31% to the GVA of agriculture and allied sectors (2023–24). It also supports more than 70% of poor rural households. These factors show the need for a strong animal healthcare system to maintain income stability, food security, and sustainable agricultural operations.

Moving forward, CRISIL expects the Indian animal health market size to grow at a CAGR of 9-11% between fiscal 2025 and 2030 and reach ₹420-465 billion by fiscal 2030 due to ongoing government capital support and schemes, rising consumer demand and disease control and vaccination programmes.

Rodec Pharma Company Information

Rodec Pharma is engaged in the manufacturing of animal feed supplements and marketing of veterinary pharmaceutical drugs to address healthcare and nutritional requirements of livestock animals.

The Company commenced production of animal feed supplements at its manufacturing facility located in Ghaziabad, Uttar Pradesh with effect from December 29, 2022. Prior to commencing manufacturing operations in December 2022, the company was primarily engaged in the marketing and distribution of veterinary drugs and animal feed supplements through its established distribution network.

Their established manufacturing facility operates in compliance with international quality standards, holding FamiQS and ISO certifications, which underscore their commitment to maintaining the market standards of product safety and efficacy.

Strengths of Rodec Pharma

• Established track record and market credibility
• Comprehensive product portfolio
• Robust distribution network
• Qualitative products
• Strategic partnerships and collaborations
• Veterinarian educational/awareness programmes
• Commercial strategy and market positioning
• Accessibility and responsiveness
• Delivering strong financials and operating matrix

Risks of Rodec Pharma

• Business is substantially dependent on few third-party manufacturers for the manufacture of veterinary pharmaceutical drug products
• Adverse developments affecting veterinary pharmaceutical drugs and animal feed supplements segments may adversely affect business
• Short manufacturing history which may make it difficult for investors to assess future growth prospects and business
• Concentration of revenues in the state of Uttar Pradesh exposes the company to state-specific risks
• Delay in obtaining consent to operate from the Uttar Pradesh Pollution Control Board may result in regulatory penalties
• Reduction in business from key customers, or termination of arrangements or formal arrangements, may adversely affect business
• Reliance on veterinary sales representatives (“VSR”), consignee agents and stockists for the sale and distribution of products
• Delay, interruption or reduction in the supply of raw materials may adversely impact the pricing and supply of products
• Inability to successfully implement business plan, expansion and growth strategies could have an adverse effect on business
• The company does not undertake in-house research and development activities, which may adversely affect competitiveness

Anchor Investor Bidding Date

TBA

IPO Registrar and Book Running Lead Manager

• IPO Registrar: Bigshare Services
• Book Running Lead Manager: Khambatta Securities

Rodec Pharma Business Model

Rodec Pharma’s product portfolio is designed to address healthcare and nutritional requirements of livestock animals. The company has developed a portfolio of veterinary pharmaceutical drugs and animal feed supplements of 35 products and its 29 variants, spanning multiple categories including antibiotics, antispasmodic, ecto parasiticide, animal feed supplements among others.

Rodec Pharma Company Growth Trajectory

The revenue from operations of Rodec Pharma grew from ₹71.613 crores in FY 23 to ₹106.393 crores in FY 25. Its EBITDA margin increased from 11.34% in FY 23 to 24.21% in FY 25, while PAT margin increased from 7.28% in FY 23 to 17.16% in FY 25. A comprehensive product portfolio and a robust distribution network have helped the company grow over the years.

Rodec Pharma Market Position

Since its incorporation in 1997, Rodec Pharma has established itself as a veterinary pharmaceutical company focused on providing reliable and validated solutions to veterinarians, animal healthcare providers, and livestock farmers.

The company’s distribution network covers multiple Indian states including Maharashtra, Haryana, Uttar Pradesh, Punjab, Gujarat, Rajasthan, Assam, Madhya Pradesh, Telangana, Chhattisgarh, Bihar, Jharkhand, Uttarakhand, Himachal Pradesh and West Bengal.

As of December 31, 2025, the company has 13 consignee agents, 401 stockists and 416 VSR spread across 15 states. As a result, it has developed a well-established footprint in major regions throughout India.

How to Apply for the Rodec Pharma IPO?

To apply for this IPO:

1. Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
2. Specify IPO details: Enter the number of lots and the price you wish to apply for.
3. Enter UPI ID: After entering your UPI ID, click submit. This will place your bid with the exchange.
4. Mandate Notification: Your UPI app will receive a mandate notification to block funds.
5. Approve Request: Your funds will be blocked once you approve the mandate request on your UPI.