Medicamen Organics IPO: Check out details before applying

Medicamen Organics has come up with an offering of a public issue. This upcoming IPO is offering a fresh issue of up to 3,100,000 equity shares; the total aggregated size of an offer is accumulated to 3,100,000 equity shares at a price of Rs 32 to Rs 34 per share worth Rs 10.53 Crore. This new IPO is being made through a book-built issue type with a reservation of not less than 50% of the net issue being offered to qualified institutional buyers, retail investors being offered not less than 35% of the net issue, and not less than 15% of the net issue is reserved for HNI category. This IPO will be open for subscription from June 21, 2024, till June 25, 2024, whereas the listing date is decided on June 28, 2024, and refund initiation for those who will not get allotted the share will be on June 27, 2024. However, keep in mind that the public offering is proposed to be listed on the BSE exchange on an SME segment.

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About Medicamen Organics Limited

Medicamen Organics Limited was established in 1995. It manufactures and supplies pharmaceutical dosages such as tablets, capsules, oral liquids, creams, gels, syrups, suspensions and dry powders, which include generic forms. These products are supplied majorly to governments (both state and central) and private sector companies, sometimes as contract manufacturers or third-party manufacturers. The drugstore has an offering of 84 items, including antibacterial agents, antidiarrheal preparations, antifungals, antimalarials, antidiabetics, proton pump inhibitors, antihistamines, antihypertensives, lipid preparations, anti-protozoans, multivitamins with minerals; non-steroidal anti-inflammatory drugs (NSAIDs). Their distribution networks cover India and other overseas marketplaces like Africa, CIS nations and some South East Asian countries, for instance, Congo, Benin, Cameroon, Togo, Senegal, Burkina Faso, Philippines, Myanmar, Mozambique, Burundi, Kyrgyzstan, Kenya, via the use of third-party distributors. Medicamen Organics operates two WHO-GMP-approved manufacturing facilities in Haridwar, Uttarakhand, covering 21,536 square feet. As of September 30, 2023, the company has established contract manufacturing agreements with 38 domestic partners and 12 merchant exporters. The company employed a total of 116 people as of this date.

Primary Objectives of Public Issue

The company proposed to allocate the Net Proceeds from the issue towards several key objectives. Firstly, a portion of the funds will be dedicated to covering expenses associated with product registration in international markets. Next, the company intends to update its plant and enhance production capacity to meet growing demand. Furthermore, a significant part of the proceeds will be used to support the working capital requirements of the company and some allocation towards general corporate purposes.

Financial Performance of Medicament Organics Limited (Amount in Rs Lakhs)

The company’s revenue was reported to be Rs 22.96 crore for the year ended March 2023, which shows a growth of 8.39%. The profit after tax improved drastically to Rs 0.95, marking a great turnaround with an increase of 937.70% for the year ended March 2024.

Essential Details of the Medicamen Public Issue 2024

Medicamen Organics IPO Tentative Timeline  

Lot Size of Medicamen Organics IPO

Key Performance Indicator

The market cap of the Medicamen Organics IPO is Rs 39.78 Crore

Medicamen Organics Public Issue’s Reservation

What is the change in promoter holding for Medicamen Organics before and after the IPO?

The promoter of Medicamen Organics is Mr Bal Kishan Gupta. Prior to the IPO, Mr Bal Kishan held 81.21% of the company's shares. However, post-issue holdings are not yet announced.

Lead Manager(s) of Medicamen Organics IPO 2024

The lead manager of Medicamen Organics IPO is GYR Capital Advisors Private Limited.  

How to Apply for Medicamen Organics IPO 

Wait for the public issue to open for subscription, then click here to apply for the Medicamen Organics IPO with Bigul.

How to Check the Allotment Status of Medicamen Organics IPO 2024  

GYR Capital Advisors Private Limited is the registrar for Medicamen Organics IPO. You can check your allotment status by clicking here. 

FAQs   

1.  When is the IPO scheduled to open and close? 

Medicamen Organics IPO is scheduled to open for subscription from June 21, 2024, till June 25, 2024.  

2.  What will the price band be for the IPO?   

The Medicamen Organics IPO price band is set at Rs 32 to Rs 34 per share.  

3.  What are the main objectives of this IPO?   

The company proposed to allocate the Net Proceeds from the Issue towards several key objectives. Firstly, a portion of the funds will be dedicated to covering expenses associated with product registration in international markets. Next, the company intends to update its plant and enhance production capacity to meet growing demand. Furthermore, a significant part of the proceeds will be used to support the working capital requirements of the company and some allocation towards general corporate purposes.

4.   How has Medicamen Organics Limited performed financially?

The company’s revenue reported to be Rs 22.96 crore for the year ended March 2023, which shows a growth of 8.39%. The profit after tax improved drastically to Rs 0.95, marking a great turnaround with an increase of 937.70% for the year ended March 2024.

5.  How can I apply for the Medicamen Organics IPO?   

Once the Medicamen Organics IPO opens for subscription, you can apply for it by clicking here with us on Bigul.   

6.  How can I check the allotment status of the IPO? 

GYR Capital Advisors Private Limited is the registrar for Medicamen Organics IPO. You can check your allotment status by clicking here.  

7.  Where will the IPO be listed?   

The IPO will be listed in the BSE SME segment (Bombay Stock Exchange Small and Medium Enterprises).

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