Anondita Medicare, a Noida-based manufacturer of flavored condoms, has concluded its Initial Public Offering (IPO) with remarkable success. The Rs 69.5 crore IPO witnessed an extraordinary oversubscription of more than 300 times, showcasing strong investor interest in the company's shares.

Overwhelming Investor Response

The IPO garnered over 2.88 lakh applications across various investor categories:

• Retail investors: 286.20 times oversubscribed
• Non-institutional investors: 531.82 times oversubscribed
• Qualified Institutional Buyers (QIBs): 153.03 times oversubscribed

This overwhelming response indicates significant investor confidence in Anondita Medicare's business model and growth prospects.

Grey Market Premium and Listing Details

The grey market premium for Anondita Medicare shares currently stands at 55%, suggesting potential listing gains for successful applicants. Key dates for investors to note:

• August 29: Refunds for unsuccessful applicants and share credits to demat accounts of successful applicants
• Upcoming Monday: Scheduled listing on NSE SME platform

Company Overview

Anondita Medicare specializes in manufacturing flavored male and female condoms under the 'COBRA' brand. The company boasts an impressive annual production capacity of 562 million units. Its market reach extends beyond India, with exports to Southeast Asia, Africa, and the Middle East.

Financial Performance

The company has reported strong financial results:

This substantial 327% jump in profit after tax demonstrates Anondita Medicare's robust financial health and growth trajectory.

The successful IPO and strong financials position Anondita Medicare for potential expansion and increased market presence. Investors and market watchers will be keenly observing the company's performance post-listing on the NSE SME platform.

Anondita Medicare, a Noida-based condom manufacturer, has witnessed an overwhelming response to its Small and Medium Enterprise (SME) Initial Public Offering (IPO) on the National Stock Exchange (NSE). The IPO, which closed its final day of bidding, was oversubscribed by an impressive 60.72 times, indicating strong investor interest in the company.

IPO Details

The Rs 69.50 crore IPO consists of 47.93 lakh fresh equity shares, with a price band set between Rs 137-145 per share. Investors were required to apply for a minimum of 2,000 shares. Prior to the public offering, Anondita Medicare successfully raised Rs 19.58 crore from anchor investors by allotting 13.5 lakh shares.

Grey Market Premium

The grey market is showing significant enthusiasm for Anondita Medicare's shares. The current grey market premium stands at Rs 70 over the issue price of Rs 145, suggesting potential listing gains of 48%. Based on this premium, the expected listing price is around Rs 215.

Company Profile

Anondita Medicare, known for its 'COBRA' brand of condoms, boasts an annual production capacity of 562 million units. The company has established a strong presence in international markets, exporting its products to Southeast Asia, Africa, and the Middle East.

Financial Performance

The company has demonstrated robust financial growth:

Anondita Medicare's revenue grew by an impressive 66% year-over-year, while its profit after tax surged by 327%.

IPO Proceeds Utilization

The funds raised through this IPO will be allocated towards:

• Equipment purchases
• Working capital requirements
• Potential acquisitions
• General corporate purposes

Listing Details

Investors and market watchers can look forward to Anondita Medicare's stock listing on the NSE SME platform, scheduled for September 1.

The strong oversubscription and high grey market premium indicate significant investor confidence in Anondita Medicare's business model and growth prospects. However, investors should always consider their risk appetite and conduct thorough research before making investment decisions.