The initial public offer (IPO) of Accretion Pharmaceuticals received bids for 28,35,600 shares as against 27,34,800 shares on offer, as per NSE data as of 17:00 hours on Wednesday (14 May 2025). The issue was subscribed 1.03 times.
The issue opened for bidding on Wednesday (14 May 2025) and it will close on Friday (16 May 2025). The price band of the IPO is fixed between Rs 96 to Rs 101 per share. The minimum order quantity is 1,200 equity shares. The equity shares will list on NSE’s SME platform.
The IPO comprises fresh issue of 29,46,000 equity shares. The promoter and promoter group shareholding will dilute to 73.14% from 100% pre-issue.
About 1,47,600 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 26,31,600 equity shares. The issue and the net issue will constitute 26.50% and 25.18%, respectively of the post issue paid up equity share capital of the company.
The company intends to utilize the net proceeds for capital expenditure towards the purchase of new equipment and machinery, capital expenditure for the upgradation of the existing manufacturing facility, repayment or prepayment of certain borrowings availed by the company, funding of working capital requirements and for general corporate purposes.
Ahead of the Accretion Pharmaceuticals on Tuesday, 13 May 2025, raised Rs 2.13 crore from anchor investors. The board has allotted 2.11 lakh shares at Rs 101 per share to 2 anchor investors.
Accretion Pharmaceuticals is engaged in the business of manufacturing and marketing tablets, capsules, oral liquids, external preparations (ointments, creams, gels, lotions, medicated shampoos, mouthwash, dusting powder), and oral powders (sachets, dry syrup), etc. Apart from manufacturing products for direct sales, the company also manufactures various pharmaceutical products for different marketers on a loan license or contract manufacturing basis. Its business is primarily carried out on a principal-to-principal basis with different marketers. The company had a total of 105 employees.
The company recorded revenue from operations of Rs 35.67 crore and net profit of Rs 5.24 crore for the period ended 31 December 2024.