Medicamen Organics IPO

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21st – 25th Jun 2024
28 Jun 2024
₹32 – ₹34
4000 shares (₹136000)
11cr

Schedule

Issue open date 21 Jun 2024
Issue close date 25 Jun 2024
UPI mandate deadline 25 Jun 2024 (5 PM)
Allotment finalization 26 Jun 2024
Refund initiation 27 Jun 2024
Share credit 27 Jun 2024
Listing date 28 Jun 2024
Mandate end date 10 Jul 2024
Lock-in end date for anchor investors (50%) 25 Jul 2024
Lock-in end date for anchor investors (remaining) 23 Sep 2024

About

Incorporated in 1995, Medicamen Organics is engaged in developing, manufacturing, and distributing a broad range of pharmaceutical dosages including generic dosages in the form of Tablets, Capsules, Oral Liquids, Ointments, Gel, Syrups, Suspension, and Dry powders for the government (including both state and central governments) and private institutions as contract manufacturer / third party manufacturer.

The company’s product portfolio consists of 84 products and comprises of wide range of drugs like, Anti-Bacterial, Anti Diarrheal, Anti-Fungal, Anti-Malarial, Anti Diabetic, Proton Pump Inhibitors, Anti Histamine, Anti-Hypertensive drugs, Anti Lipidemic Drug, Anti Parasitic, Multivitamin, Multimineral and Non- steroidal anti-inflammatory drug (NSAIDs).

It is an ISO 9001:2015 certified company with its products marketed across India as well as African, CIS, and South East Asian Countries like Congo, Benin, Cameg, Togo, Senegal, Burkina Faso, Philippines, Myanmar, Mozambique, Togo, Burundi, Kyrgyzstan and Kenya by its third-party distributor.

Funds Raised in the IPO Amount
Overall ₹10.54 crores
Fresh Issue ₹10.54 crores
Offer for sale

Financial Snapshot

Financial Year Ended March 2022 March 2023 March 2024
Total Assets 27.07 32.12 38.58
Revenue 21.19 22.96 25.29
Profit After Tax 0.092 0.96 2.40
EPS 0.17 1.62 3.18

*All figures except EPS are in ₹ Crores

Risk factors

  • Client concentration risk: The company relies heavily on a limited number of customers, with the top ten customers accounting for 78.76%, 62%, and 66.45% of total sales for the financial years ending on March 31, 2024, 2023, and 2022, respectively. The potential loss of any of these major clients could impact both revenues and profitability.
  • Counterfeit medications: The presence of counterfeit drugs, including products falsely represented as originating from the company, has the potential to harm the company’s reputation and operational performance.

Note:

  • The above schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion.
  • The allotment status will be available by June 27, 2024, on the Registrar’s website and the NSE website.