Accretion Pharmaceuticals IPO opens for subscription: Price band, GMP among key details to know
Accretion Pharmaceuticals has opened its
initial public offering
(IPO) for subscription today, May 14. The IPO, which is set to close on May 16, aims to raise Rs 29.75 crore through a fresh issue of 29.46 lakh equity shares. Ahead of the issue opening, the GMP is muted at Rs 0.
The IPO follows a book-building process and will 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 plans to utilize the IPO proceeds for multiple purposes, including capital expenditure towards purchasing new equipment and upgrading its existing manufacturing facility. Part of the funds will also be used for repaying certain borrowings, funding working capital requirements, and meeting general corporate expenses.
The allotment of shares is expected to be finalized on May 19, with refunds initiated on May 20, and shares credited to demat accounts the same day. The company is set to make its debut on the NSE SME platform on May 21.
Accretion Pharmaceuticals IPO price band
The price band for the IPO has been set at Rs 96 to Rs 101 per share, and investors can bid for a minimum of 1,200 shares, amounting to a minimum investment of Rs 1,15,200.
About Accretion Pharmaceuticals
Accretion Pharmaceuticals, a Gujarat-based pharmaceutical company, is engaged in the manufacturing and sale of a wide range of healthcare products, including tablets, capsules, oral liquids, external preparations, and Ayurvedic and herbal products.
The company also offers contract manufacturing services to its clients. Its manufacturing facility is located in Ahmedabad, Sanand, Gujarat.
Financials
Financially, Accretion Pharmaceuticals has shown strong growth. As of December 2024, the company reported total revenue of Rs 35.75 crore and a profit after tax (PAT) of Rs 5.24 crore. Its net worth stood at Rs 13.58 crore.
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