1) About Medicamen Organics
Medicamen Organics is engaged in developing, manufacturing and distribution of broad range of pharmaceutical dosage including generic
dosage in form of Tablets, Capsules, Oral Liquids, Ointments, Gel, Syrups, Suspension and Dry powders for government (including both state and central governments) and private institutions as contract manufacturer.
2) Industry overview
According to a recent EY FICCI report, there has been growing consensus over providing new innovative therapies to patients. The Indian pharmaceutical market is estimated to touch $130 billion in value by the end of 2030. Meanwhile, the global market size of pharmaceutical products is estimated to cross over the $1 trillion mark in 2024.
3) Medicamen Organics IPO size
The IPO is completely a fresh equity issue of 31 lakh shares and through the issue, the company plans to raise around Rs 10.5 crore.4) Medicamen Organics IPO price band
The company is offering its shares at Rs 32-34 apiece, and investors can bid for 4,000 shares in 1 lot.
5) Medicamen Organics IPO financial performance
For the period ended March 2024, the company clocked revenues of Rs 25.27 crore and net profit of Rs 2.4 crore.
6) Objects of the offer
The net proceeds from the public offer will be used for product registration in the international markets, plant updation and increase in production capacity, working capital requirements and other general corporate purposes.
7) Lead managers and Registrar
GYR Capital Advisors is acting as the lead manager to the issue and Kfin Technologies is the registrar.
8) Issue structure
About 50% of the offer is reserved for QIB investors, 35% for retail investors and the rest 15% for other investors.
9) Important dates
The IPO opened on June 21 and will close on June 25. The final allotment will likely be made on June 26. The company’s shares will likely get listed on June 28.
10) Medicamen Organics GMP
Ahead of the issue opening, the company’s shares were trading with a GMP of Rs 60 in the unlisted market.