Speciality Medicines IPO Opens For Subscription Today
Add Preferred News Source
Speciality Medicines IPO opens on 20 March and closes on 24 March, with a price band of ₹117–124 per share.
Speciality Medicines initial public offering (IPO) opens for subscription on Friday, 20 March. The company plans to raise about ₹29 crore through a fully fresh issue. The offer will close on 24 March. Shares are scheduled to list on the BSE SME platform on 30 March. The price band has been fixed at ₹117–124 per share.
Other Key IPO Details
Here are the other key details of the Speciality Medicines IPO:
Face Value | ₹10 per share |
Qualified Institutional Buyers (QIBs) shares | Not more than 2% of the issue |
Retail Shares | Not less than 49% of the issue |
Non-Intitutional Investors (NIIs) Shares | Not less than 49% of the issue |
Business Model And Operations
Incorporated in 2021, Speciality Medicines operates in the speciality pharma segment. The company focuses on the marketing and distribution of high-value formulations used in chronic and complex treatments. Its portfolio includes:
- Injectables
- Inhalers
- Ophthalmic products
- Oral formulations
The company follows a dual model. It undertakes contract manufacturing for overseas markets while also distributing sourced speciality pharma products. The company has a presence in more than 35 countries and operates across over 20 states in India.
Also Read - Central Bank Faces ₹1.44 Lakh Crore Bad Loans, Initiates 4,903 Recovery Cases
Use Of Proceeds
The IPO proceeds will be deployed across multiple areas:
- Setting up a new research and development (R&D) centre in Gujarat
- Funding international product registrations
- Supporting marketing activities
- Meeting working capital needs
The research and development investment comes as the company looks to scale its product pipeline and expand overseas registrations.
Sources:
The Economic Times
India IPO
Chittorgarh
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
Right Tools, Rich Insights
