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₹124 - 124
Speciality Medicines Ltd
PharmaceuticalsIPOSME
₹124 - 124
The Company is engaged in the business of marketing and distribution of finished formulations of specialty pharmaceutical products, comprising of high-cost oral and injectable medications used in the treatment of complex and chronic medical conditions in therapeutic areas like oncology, immunology, neurology and rare diseases.We offer a diverse portfolio of specialty pharmaceutical products, focusing on various therapeutic areas such as oncology, immunology, neurology, and rare diseases. Our products which are offered in such areas are available in a wide range of dosage forms like Tablets, Capsules, Cream, Syrups, Eye Drops, Gel, Infusion, Inhalation, Inhaler, Injection, Nasal Spray, Ointment, Ophthalmic, Oral Solution, Oral Suspension, Sachet and Suspension. We operate through two integrated business models: (a) Manufacturing, through contract manufacturing basis, of approved finished formulations and distribution internationally and (b) Marketing and distribution of specialty pharmaceutical products sourced from manufacturers.
Lot1,000Min Invest₹2,48,000Face Value₹10Issue Size₹29 CrFresh Issue₹29 CrListing Price₹124CMP₹142
Timeline
20 Mar
Bidding opens
24 Mar
Bidding closes
25 Mar
Allotment
27 Mar
Refund & demat credit
30 Mar
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹29 Cr0.23 Cr shares
Fresh Issue₹29 Cr
Face Value₹10
Lot Size1,000 shares
ReservationQIB 2% · NII 49% · RETAIL 49%
Application Sizes
Retail₹2,48,0001-1 lots
sNII₹2,48,000from 2 lots
bNII₹11,16,000from 9 lots
Managers & Registrar
Lead ManagerUnistone Capital Private Limited
RegistrarSkyline Financial Services Pvt
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group59.28%43.44%Public40.72%56.56%
Objects of the Issue
- Setting up of Research & Development (R&D) Center
- Product Registration in International Markets and Product Development for sale in international markets
- Funding for Marketing and Promotional Activities
- To meet working capital requirements
- General corporate purposes
Anchor Book
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 40 | 23 | 28 | 58 | 75 |
| Operating ProfitCr | 2 | 4 | 5 | 9 | 14 |
| OPM% | 5.6 | 15.3 | 19.1 | 15.6 | 18.2 |
| PBTCr | 2 | 3 | 5 | 9 | 13 |
| PATCr | 1 | 2 | 3 | 9 | 13 |
| EPS | 5 | 5 | 7 | 14 | 20 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 0 | 4 | 5 | 6 | - |
| ReservesCr | 2 | 2 | 10 | 24 | - |
| BorrowingsCr | 1 | 4 | 3 | 5 | - |
| Total AssetsCr | 6 | 13 | 23 | 40 | - |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 1 | -4 | -5 | -6 | -1 |
| Investing Cash FlowCr | -2 | 0 | 0 | -2 | -3 |
| Financing Cash FlowCr | 2 | 4 | 5 | 8 | 28 |
| Net Cash FlowCr | 0 | 0 | 0 | 1 | 24 |
Strengths & Risks
Strengths · as stated in the DRHP
- A Supplier of Specialty pharmaceuticals.
- Experienced Promoters and Management Team.
- Diversified Business Operations and Revenue Base.
- Scalable Business Model.
- Quality Assurance.
- Existing Client Relationship.
Strategies · as stated in the DRHP
- Identify Target Markets.
- Initial Lead Interaction (Exhibition, Seminar, Conference).
- Mobilize Business Development Team.
- Leveraging Market Skills and Relationships.
- Key Customer Relationship Building.
- Increasing Operational Efficiency.
Risks · as stated in the DRHP
- The company has certain outstanding litigation against it, an adverse outcome of which may adversely affect its business, reputation and results of operations.
- The company is subject to strict technical specifications, quality requirements by its customers. The company failures to comply with the quality standards and technical specifications prescribed by such customers may lead to loss of business from such customers and could negatively impact its business, results of warranty claims.
- The pharmaceutical market is subject to extensive regulation and failures to comply with the existing and future regulatory requirements in any pharmaceutical market could expose it to litigation or other liabilities, which could adversely affect its reputation, business, financial condition and results of operations.
- The company limited operating history may make it challenging for investors to assess its future growth prospects and overall business performance since the company was incorporated on February 05, 2021, which makes it a relatively new entity with a short track record of business and financial activities.
- The company business is working capital intensive. If its unable to borrow to meet the company working capital requirements, it may materially and adversely affect its business and results of operations.
- The company has not yet placed orders in relation to the funding Capital Expenditure towards establishment of Research and Development (R&D) Center comprising Construction of Building and Lab equipment which is proposed to be financed from the Issue proceeds of the IPO. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the building and equipment in a timely manner, or at all, may result in time and cost over-runs and its business, prospects and results of operations may be adversely affected. Its proposed Research and Development (R&D) Center plans are subject to the risk of unanticipated delays in implementation due to factors including delays in construction, obtaining regulatory approvals in timely manner and cost overruns.