New Delhi, May 14 — Accretion Pharmaceuticals Ltd has launched its initial public offering (IPO) with the aim of raising approximately Rs 29.75 crore through the issue of 29.46 lakh fresh equity shares. The IPO opened for public subscription on Wednesday and will remain open until May 16.
IPO Price Band and Subscription Status
The IPO is priced in the range of Rs 96 to Rs 101 per share. As of 2 PM on the first day of subscription, the public issue had been subscribed 59 percent, according to data available from the NSE.Shares of Accretion Pharmaceuticals are proposed to be listed on the NSE SME platform.
Use of Proceeds
The company has earmarked the IPO proceeds for several strategic purposes:- Rs 2.69 crore for capital expenditure towards new machinery and equipment
- Rs 4.65 crore for upgrading the existing manufacturing facility in Ahmedabad
- Rs 99.17 lakh for repayment of outstanding borrowings
- Rs 14.68 crore for working capital requirements
- The remaining funds will be used for general corporate purposes
Financial Performance
Accretion Pharmaceuticals has demonstrated consistent financial growth. For the first nine months of FY2025 ending December 2024, the company reported:- Revenue: Rs 35.66 crore
- Profit After Tax (PAT): Rs 5.23 crore
- Revenue: Rs 33.66 crore
- PAT: Rs 3.87 crore
Anchor Investment and Management
Ahead of the IPO, the company raised Rs 2.13 crore from two institutional investors in an anchor round. The investors included Pink Oak Global Fund and Vikasa India EIF I Fund.Jawa Capital Services is serving as the book-running lead manager for the IPO, while Kfin Technologies is acting as the registrar.
Accretion Pharmaceuticals’ IPO marks another step in its expansion strategy, as it looks to bolster manufacturing capabilities and strengthen financial footing.
