Medicamen Organics IPO: The initial public offering (IPO) of pharmaceutical firm Medicamen Organics Ltd, which was opened for public subscription on June 21, has seen a strong response from investors so far. Till 11:05 am on the second day of bidding on Monday, the Rs 10.54-crore IPO received 92.49 times subscription, garnering bids for 18,97,80,000 shares as against 20,52,000 shares on offer.
The quota for non-institutional investors got subscribed 60.87 times while the category for Retail Individual Investors (RIIs) fetched 157.98 times subscription. The Qualified Institutional Buyers (QIBs) portion received a 1.01 times subscription.
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Medicamen Organics IPO: Allotment And Listing Dates
The Medicamen Organics IPO will be closed on June 25 and its allotment will likely be finalised on June 26. Its listing will take place on the NSE SME on June 28.
Medicamen Organics IPO: Price and Lot Size
The price band of the Medicamen Organics IPO was fixed at Rs 32 to Rs 34 per share.
Investors need to apply for a minimum of 4,000 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 1,36,000 (4,000 (lot size) x Rs 34 (upper price band)).
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Medicamen Organics IPO GMP Today
According to market observers, unlisted shares of Medicamen Organics Ltd are trading Rs 50 higher in the grey market as compared with its issue price. The Rs 50 grey market premium or GMP means the grey market is expecting a 147.06 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Medicamen Organics IPO: More Details
The Medicamen Organics IPO is entirely a fresh issue of 31 lakh shares.
Medicamen Organics Limited, which was founded in 1995, develops, manufactures, and distributes pharmaceutical dosages including generic dosages in the form of tablets, capsules, oral liquids, ointments, gels, syrups, suspensions and dry powders for the Government (including State Governments and Central Governments) and private entities as a contract manufacturer/third party manufacturer.
Medicamen Organics Ltd’s revenue increased 10.13 per cent and profit after tax (PAT) rose 151 per cent between the financial year ending with March 31, 2024 and March 31, 2023.
GYR Capital Advisors Private Limited is the book running lead manager of the Medicamen Organics IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Medicamen Organics IPO is Giriraj Stock Broking.
