Cotec Healthcare Files Rs 295 Crore IPO, Reports Strong Financial Growth
Cotec Healthcare, a Dehradun-based CDMO, has filed its DRHP with SEBI for an IPO. The offering includes a fresh issue of Rs 295 crore and an OFS of up to 60 lakh shares by promoters. The company plans to list on NSE and BSE. Funds will be used for manufacturing capacity expansion and new product development. Cotec specializes in formulation and manufacturing of off-patent products. The company's revenue increased by 39.3% to Rs 192.24 crore in FY2025, with profit doubling to Rs 20 crore.
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Cotec Healthcare, a Dehradun-based contract development and manufacturing organization (CDMO), has taken a significant step towards going public. The company recently filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
IPO Structure and Listing Plans
The proposed IPO comprises two components:
- A fresh issue of shares worth Rs 295 crore
- An offer for sale (OFS) of up to 60 lakh shares by promoters Harsh Tiwari and Vandana Tiwari
Cotec Healthcare plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Pre-IPO Placement Consideration
The company is considering a pre-IPO placement of up to Rs 65 crore. If this placement occurs, it would proportionately reduce the size of the fresh issue.
Utilization of IPO Proceeds
The funds raised from the fresh issue will be allocated as follows:
- Rs 226.25 crore for a new project to enhance manufacturing capacities and enable production of new products
- The remaining amount for general corporate purposes
Company Profile and Specialization
Cotec Healthcare specializes in:
- Formulation
- Loan licensing
- Commercial manufacturing of off-patent products, including complex generics
Financial Performance
The company has demonstrated strong financial growth:
| Fiscal Year | Revenue (in Rs crore) | Profit (in Rs crore) |
|---|---|---|
| 2025 | 192.24 | 20.00 |
| 2024 | 137.86 | 10.00 |
The company reported a remarkable 39.3% increase in revenue, reaching Rs 192.24 crore in fiscal year 2025. More impressively, its profit doubled from Rs 10.00 crore to Rs 20.00 crore in the same period.
IPO Management
- Book-running lead manager: Pantomath Capital Advisors
- Registrar: Kfin Technologies
This IPO marks a significant milestone for Cotec Healthcare as it seeks to capitalize on its growth and expand its operations in the pharmaceutical manufacturing sector.
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