Accretion Pharmaceuticals IPO opens for subscription: Price band, GMP among key details to know

Synopsis

Accretion Pharmaceuticals launched its IPO connected May 14, aiming to rise Rs 29.75 crore done a caller contented of shares, with the IPO closing connected May 16. The Gujarat-based company, which manufactures a scope of healthcare products, plans to usage the funds for superior expenditure, indebtedness repayment, and moving capital.

Accretion Pharmaceuticals has opened its initial nationalist offering (IPO) for subscription today, May 14. The IPO, which is acceptable to adjacent connected May 16, aims to rise Rs 29.75 crore done a caller contented of 29.46 lakh equity shares. Ahead of the contented opening, the GMP is muted astatine Rs 0.

The IPO follows a book-building process and volition beryllium listed connected the NSE SME platform. Jawa Capital Services is the book-running pb manager for the issue, portion Kfin Technologies is acting arsenic the registrar. Gretex Share Broking has been appointed arsenic the marketplace shaper for the IPO.

The institution plans to utilize the IPO proceeds for aggregate purposes, including superior expenditure towards purchasing caller instrumentality and upgrading its existing manufacturing facility. Part of the funds volition besides beryllium utilized for repaying definite borrowings, backing moving superior requirements, and gathering wide firm expenses.

The allotment of shares is expected to beryllium finalized connected May 19, with refunds initiated connected May 20, and shares credited to demat accounts the aforesaid day. The institution is acceptable to marque its debut connected the NSE SME level connected May 21.

Accretion Pharmaceuticals IPO terms band

The terms set for the IPO has been acceptable astatine Rs 96 to Rs 101 per share, and investors tin bid for a minimum of 1,200 shares, amounting to a minimum concern of Rs 1,15,200.

About Accretion Pharmaceuticals

Accretion Pharmaceuticals, a Gujarat-based pharmaceutical company, is engaged successful the manufacturing and merchantability of a wide scope of healthcare products, including tablets, capsules, oral liquids, outer preparations, and Ayurvedic and herbal products.

The institution besides offers declaration manufacturing services to its clients. Its manufacturing installation is located successful Ahmedabad, Sanand, Gujarat.

Financials

Financially, Accretion Pharmaceuticals has shown beardown growth. As of December 2024, the institution reported full gross of Rs 35.75 crore and a nett aft taxation (PAT) of Rs 5.24 crore. Its nett worthy stood astatine Rs 13.58 crore.

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