Pharmaceutical dosages maker, Medicamen Organics, is set to launch its Initial Public Offering (IPO) on 21st June. The company aims to raise over ₹10 crore and has disclosed the IPO price range and other key details.
The price band for Medicamen Organics IPO is fixed between ₹32 and ₹34 per share. At the higher end, the IPO size is ₹10.54 crore, which includes a fresh issue of 31 lakh equity shares.
Retail investors need to buy at least one lot of 4,000 shares, meaning a minimum investment of ₹136,000.
Medicamen Organics IPO will open for subscription on Friday, 21st June, and will close on Tuesday, 25th June. The IPO allotment date is 26th June, and the listing date is 28th June. The shares will be listed on NSE SME.
The company plans to use the money raised from the IPO to cover costs for registering products in international markets, updating their plant, increasing production capacity, funding working capital, and for general corporate needs.
Bal Kishan Gupta is the company’s promoter.
GYR Capital Advisors Pvt Ltd is managing the IPO, while Kfin Technologies is handling the registration.
In the financial year 2023, Medicamen Organics reported a net profit of ₹95.78 lakh on a revenue of ₹22.96 crore, up significantly from a net profit of ₹9.23 lakh and revenue of ₹21.18 crore in the previous year. For the six months ending September 2023, the company reported a net profit of ₹1.29 crore and a revenue of ₹11.32 crore.
Medicamen Organics Grey Market Premium (GMP) Today
Today, the grey market premium (GMP) for Medicamen Organics shares is ₹50 per share. This indicates that the shares are trading at ₹84 each in the grey market, a 147.06% premium over the IPO price of ₹34 per share.
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