Curis Lifesciences Launches Rs 27.5 Crore SME IPO: A Closer Look
Pharmaceutical company Curis Lifesciences has opened its Rs 27.5 crore SME IPO for subscription from November 7-11, 2023. The IPO offers 21.5 lakh fresh shares at a price band of Rs 120-128 per share, with a minimum investment of Rs 2.56 lakh. The company plans to list on NSE SME on November 14, 2023. Curis Lifesciences, specializing in contract manufacturing and product development, reported a revenue of Rs 49.6 crore and a profit after tax of Rs 6.1 crore, showing growth of 38% and 25% respectively. The IPO proceeds will be used for infrastructure expansion, loan repayment, overseas product registration, and working capital. Prior to the IPO, the company raised Rs 7.81 crore from anchor investors.
*this image is generated using AI for illustrative purposes only.
Pharmaceutical company Curis Lifesciences has opened its Rs 27.5 crore Small and Medium Enterprise (SME) Initial Public Offering (IPO) for subscription. This move marks a significant step for the company as it seeks to raise capital for expansion and growth.
IPO Details
| Particulars | Details |
|---|---|
| Issue Size | Rs 27.5 crore |
| Fresh Shares | 21.5 lakh |
| Price Band | Rs 120 - Rs 128 per share |
| Minimum Investment | Rs 2.56 lakh (2,000 shares) |
| Subscription Period | November 7-11, 2023 |
| Listing Date | November 14, 2023 |
| Listing Platform | NSE SME |
Company Overview
Curis Lifesciences operates in the pharmaceutical sector, specializing in contract manufacturing and product development. The company caters to both domestic and international markets, serving over 100 corporate clients globally from its facility in Gujarat.
Financial Performance
The company has demonstrated strong financial growth:
| Metric | Amount | Growth |
|---|---|---|
| Revenue | Rs 49.6 crore | 38.00% |
| Profit After Tax | Rs 6.1 crore | 25.00% |
IPO Proceeds Allocation
The funds raised from the IPO will be utilized for various purposes:
| Purpose | Amount (in Rs crore) |
|---|---|
| Infrastructure Expansion | 6.00 |
| Loan Repayment | 1.90 |
| Overseas Product Registration | 2.70 |
| Working Capital | 11.25 |
Infrastructure Expansion Breakdown
| Category | Amount (in Rs crore) |
|---|---|
| Facility Upgrades | 2.40 |
| New Storage | 3.60 |
Anchor Investment
Prior to the IPO launch, Curis Lifesciences successfully raised Rs 7.81 crore from anchor investors, indicating initial investor confidence in the company's prospects.
Market Impact
The launch of Curis Lifesciences' IPO adds to the growing list of SMEs entering the public market. This trend reflects the increasing appetite for SME stocks among investors and the government's push to support small and medium enterprises through easier access to capital markets.
For potential investors, it's crucial to carefully assess the company's financials, growth prospects, and the risks associated with investing in SME stocks before making an investment decision.
19
