Accretion Pharmaceuticals Limited, an Ahmedabad-headquartered pharmaceuticals manufacturer, announced that its initial public offering (IPO) will open for subscription on Wednesday, May 14, 2025. The anchor portion will be opened on Tuesday, May 13, 2025, and the issue will conclude on Friday, May 16, 2025. The company intends to raise ?29.75 crore from the offering and aims to be listed on the NSE Emerge platform.
The price band for the issue has been fixed at ?96-101 per share, and the lot size will be 1,200 equity shares. Jawa Capital Services Private Limited is the Book Running Lead Manager, Socradamus Capital Private Limited is the Underwriter to the Issue and Kfin Technologies Limited is the Registrar to the Issue.
The IPO will comprise a fresh issue of 29.46 Lakh Equity Shares with a face value of ?10/- through the book-building route. As many as 2,11,200 equity shares have been reserved for the Anchor investors, 1,47,600 equity shares for the market maker, 12,22,800 equity shares allocated for the NII portion, 1,41,600 equity shares for QIBs, and the Retail (RII) portion accounts for 12,22,800 equity shares.
According to RHP, Accretion Pharmaceuticals intends to utilise ?2.69 crore of the total IPO proceeds towards capital expenditure for purchasing new equipment/machinery, ?4.65 crore towards capital expenditure to upgrade existing manufacturing plant, ?99.17 Lakh towards repayment/prepayment of certain borrowings availed by the company, ?14.68 crore for funding working capital requirements and the remaining capital will be used for general corporate purposes.
The company is engaged in the business of manufacturing and marketing of tablets, capsules, oral liquid, external preparations (ointment, cream, gel, lotion, medicated shampoo, mouthwash, dusting powder), and oral powder (sachet, dry syrup) etc. Apart from manufacturing products for direct sales, the company also manufactures various pharmaceutical products for different marketers on loan license or contract manufacturing basis.
Accretion Pharmaceuticals manufactures a wide range of medicines for the treatment of a variety of conditions, including cardiovascular, anti-diabetic, anti-fungal, anti-allergic, pain management, vitamins and nutrition, anti-bacterials, anti-ulcerants, and neuropathy management. The company carries out its operations from its manufacturing facility located at Vasna Chacharvadi in Ahmedabad, Gujarat.
The company is doing the business in three verticals i.e. sales to domestic market, direct sales to export market and sales to merchant exporter under loan license basis. The products manufactured by the company sold to merchant exporter, which are further sold by the merchant exporter to various countries in Africa, South-East Asia and Latin America.
The promoters, Mr. Harshad Nanubhai Rathod, Mr. Vivek Ashok Kumar Patel, Mr. Mayur Popatlal Sojitra, and Mr. Hardik Mukundbhai Prajapati, established Accretion Pharmaceuticals in 2012 with the vision of providing healthcare products that meet international quality standards at a competitive price. As a quality-focused organization, it has received several certifications, including ISO 9001:2015, ISO 14001:2015, and ISO 22000:2018. The company is led by an experienced board of directors, and a professional and seasoned management team with extensive experience in the pharmaceuticals industry.
The company has registered ?35.66 crore of revenue from operations with a profit (PAT) of ?5.23 crore in the first nine months of the financial year 2024-25, ended December 31, 2024, compared to ?33.66 crore of revenue from operations and a profit (PAT) of ?3.87 crore in the fiscal year 2024. |
