Accretion Pharmaceuticals IPO: Latest GMP, Subscription Status, Offer Size And More
Accretion Pharmaceuticals IPO is a book-building issue worth Rs 29.75 crore, comprising entirely a fresh issue of 29.46 lakh shares.
Accretion Pharmaceuticals Ltd. launched its initial public offering on May 14. The pharma company aims to raise nearly Rs 30 crore from the primary market through its IPO.
The Ahmedabad-based pharmaceutical company manufactures tablets, capsules, ointments and other healthcare products.
Investors who want to participate in the Accretion Pharmaceuticals IPO subscription can check key details about the NSE SME issue before applying for shares.
Accretion Pharmaceuticals IPO: Key Details
Accretion Pharmaceuticals IPO is a book-building issue worth Rs 29.75 crore, comprising entirely a fresh issue of 29.46 lakh shares.
Retail investors can invest in the IPO with a minimum lot size of 1,200 shares, aggregating to an investment of at least Rs 1,21,200. High Net-worth Individuals (HNIs) can apply for at least two lots of 2,400 shares, amounting to a minimum investment of Rs 2,42,400.
The IPO price band has been set between Rs 96 to Rs 101 per share.
The company has set aside a minimum of 35% of the net issue for retail investors. The Qualified Institutional Buyers (QIBs) are entitled to a maximum of 50% of the net issue size. The company has reserved the remaining 15% for the Non-Institutional Investors (NIIs).
Jawa Capital Services Pvt. is the book-running lead manager of the issue. Kfin Technologies Ltd. is the registrar and Gretex Share Broking Pvt. is the market maker for the IPO.
Accretion Pharmaceuticals IPO: Key Dates
The Accretion Pharmaceuticals IPO will be open for subscription from May 14 to May 16. The allotment of shares is proposed to be finalised on May 19. Shares will be credited to the Demat accounts of successful bidders on May 20. Refunds for the non-allottees will also be processed on the same day. Shares of Accretion Pharmaceuticals are proposed to be listed on the NSE SME platform on May 21.
Accretion Pharmaceuticals IPO: Subscription Status
Accretion Pharmaceuticals' IPO has been subscribed 0.19 times as of 11 a.m. on Wednesday.
Qualified Institutions: nil
Non-Institutional Investors: 0.07 times
Retail Investors: 0.34 times
*The subscription status will be updated at regular intervals
Accretion Pharmaceuticals IPO Latest GMP
According to Investorgain, the grey market premium (GMP) for the Accretion Pharmaceuticals IPO stood at Rs 18 per share, as of 9:53 a.m. on May 14. The latest GMP indicates a listing price of Rs 119 per share at a premium of 17.82%.
Note: GMP does not represent official data and is based on speculation.
Accretion Pharmaceuticals: Business And Financials
Accretion Pharmaceuticals was established in 2012. It manufactures tablets, capsules, oral liquids, external preparations and oral powder. The company’s manufacturing facility is located in Ahmedabad, Gujarat.
Use of Proceeds
The company has proposed to use proceeds from the IPO to purchase equipment and machinery, upgrade its manufacturing facility, fund working capital requirements and general corporate purposes.
Financials
The company reported a 36.3% year-on-year rise in its profit after tax to Rs 3.87 crore in FY24 from Rs 10.39 lakh in FY23. Total revenue rose 14.93% year-on-year to Rs 33.94 crore in FY24 from Rs 29.53 crore in FY23.
For the nine-month period ended Dec. 31, 2024, total revenue stood at Rs 35.75 crore and profit after tax at Rs 5.23 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
