Accretion Pharmaceuticals Limited's Initial Public Offering (IPO) opens for subscription today, May 14, 2025, marking a significant milestone for the Ahmedabad-based pharmaceutical company. The IPO, priced between ?96 to ?101 per equity share, will remain open until May 16, 2025, with the company seeking to raise ?29.75 crore through the issuance of 29.46 lakh fresh shares with a face value of ?10 each.
Prior to its IPO launch, Accretion Pharmaceuticals on May 13, secured ?2.13 crore in anchor funding through the sale of 2,11,200 Lakh equity shares from two institutional investors, namely Pink Oak Global Fund and Vikasa India EIF I Fund at ?101 per share.
The IPO is being conducted through a book-building process and is proposed to be listed on the NSE SME platform. Jawa Capital Services is the book-running lead manager for the issue, while Kfin Technologies is acting as the registrar. Gretex Share Broking has been appointed as the market maker for the IPO.
The company has outlined clear utilization plans for the net proceeds, with ?2.69 crore will be allocated for capital expenditure towards new machinery and equipment, ?4.65 crore earmarked for upgrading its existing manufacturing facility in Ahmedabad, and ?99.17 lakh designated for repayment of outstanding borrowings. A significant portion of ?14.68 crore will be utilised for working capital requirements, while the balance will be used for general corporate purposes.
The company has been demonstrating consistent growth, reporting ?35.66 crore in revenue and ?5.23 crore in profit after tax for the first nine months of FY2025 ending December 2024, showing improvement from ?33.66 crore revenue and ?3.87 crore profit in FY2024.
With its diversified product portfolio spanning tablets, capsules, oral liquids, and various external preparations including ointments, creams, and medicated shampoos, Accretion Pharmaceuticals has established itself as a reliable manufacturer in both domestic and international markets. The company operates through three key business verticals: domestic sales, direct exports, and contract manufacturing for merchant exporters serving markets in Africa, Southeast Asia, and Latin America. Its state-of-the-art manufacturing facility in Ahmedabad holds multiple international certifications including ISO 9001:2015, ISO 14001:2015, and ISO 22000:2018, reflecting its commitment to quality standards. |
