Anondita Medicare's SME IPO Oversubscribed 60.7 Times, Grey Market Premium Soars
Anondita Medicare's Rs 69.50 crore SME IPO on NSE closed with 60.72 times oversubscription. The IPO offered 47.93 lakh fresh equity shares priced between Rs 137-145. The grey market premium stands at Rs 70 over the issue price, suggesting a potential listing price of Rs 215. The condom manufacturer, known for its 'COBRA' brand, reported 66% YoY revenue growth and 327% profit growth in FY23. IPO proceeds will fund equipment purchases, working capital, acquisitions, and corporate purposes. Listing on NSE SME platform is scheduled for September 1.
*this image is generated using AI for illustrative purposes only.
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:
| Fiscal Year | Revenue (in crore) | Profit After Tax (in crore) |
|---|---|---|
| FY24 | 46.56 | - |
| FY25 | 77.13 | 16.42 |
| YoY Growth | 66% | 327% |
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.
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