Medicap Healthcare Files DRHP For IPO To Raise Rs 240 Crore In Fresh Issue
The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd.
Medicap Healthcare Ltd. filed its preliminary papers with the capital markets regulator SEBI on Monday to raise funds via an initial public offering. The public offer will include only fresh issues of shares worth Rs 240 crore.
The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The company, in consultation with the BRLMS, may consider an issue of equity shares aggregating up to Rs 48 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue.
Aryaman Financial Services Ltd. is the book-running lead manager for the issue and Kfin Technologies Ltd. will be the registrar of the issue.
Proceeds from the fresh issue worth Rs 74.37 crore will be used to purchase plant and machinery for existing manufacturing unit, while Rs 32.9 crore will be used for repayment or pre-payment in full or part of certain borrowings of the company. Additionally, Rs 52.8 crore will be used for further investment in the company's subsidiary KASR Healthcare Pvt.
This will be used by the subsidiary for repayment or pre-payment of certain borrowings. A part of the funds will be used for the general corporate purposes.
The Vadodara-based company is a pharmaceutical packaging firm that started in 2014 as a partnership firm but then in 2017 converted into a public limited company. It has a 6,732 sq. mt. facility that caters to both the domestic and the international market. The company earns 80% of its revenue from operations from its domestic sales and nearly 20% from exports.
The revenue from operations in fiscal 2025 rose 6.1% to Rs 108.3 crore in comparison to Rs 102.11 crore. The profit for the financial year 2025 rose 2.2% to Rs 32.78 crore from Rs 32.08 crore reported in financial year ended March 2024.
