Claroid Pharmaceuticals Files IPO Papers With SEBI For Fresh Issue And OFS
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Claroid Pharmaceuticals has filed IPO papers with SEBI for a proposed issue of up to 1.26 crore shares. The company plans to use the fresh issue proceeds to set up a ₹167.97-crore manufacturing facility in Ahmedabad.
Claroid Pharmaceuticals has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) comprising a fresh issue and an offer for sale.
The Gujarat-based pharmaceutical formulations manufacturer plans to issue up to 74.50 lakh new equity shares and offer up to 51.50 lakh shares through the OFS. The proposed IPO will therefore comprise up to 1.26 crore shares.
IPO Proceeds To Fund New Ahmedabad Plant
Claroid Pharmaceuticals plans to use the money raised through the fresh issue to fund capital expenditure for a new manufacturing facility in Ahmedabad.
The plant will come up on the company's existing land and will manufacture injectables, ampoules, vials, dry powder products, pre-filled syringes and eye drops.
The facility is expected to cost around ₹167.97 crore and will have an installed capacity of 15 lakh units per month.
Claroid currently operates a manufacturing facility at Pirana in Ahmedabad, where it produces tablets, capsules and ointments.
Claroid Pharmaceuticals Has 129 Formulations
According to the IPO draft papers, the company had developed 129 pharmaceutical formulations across several therapeutic categories. These include anti-infective, anti-inflammatory, anti-fungal, dermatology, pain management and gastrointestinal products.
Claroid also sells its products in overseas markets. Its export presence includes Nigeria, Tanzania, Kenya, Myanmar, Zanzibar and Botswana, with Nigeria being its largest export market.
The company has GMP certifications from regulatory authorities in Rwanda, Ghana, Tanzania and Zanzibar.
Financial Performance
Claroid Pharmaceuticals has reported strong growth in revenue over the past two financial years.
Revenue from operations increased to ₹169.72 crore in FY26 from ₹62.98 crore in FY24. This translates into a compound annual growth rate of 64.13% over the two-year period.
The company has an in-house formulation and development facility, along with quality control, quality assurance and microbiology laboratories. Its distribution network includes more than 30 distributors across African markets.
Oneview Corporate Advisors and Valmiki Leela Capital have been appointed as the book-running lead managers for the proposed IPO.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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