Curis Lifesciences Makes Strong Debut on NSE SME Platform After 74x Oversubscribed IPO
Pharmaceutical manufacturer Curis Lifesciences launched successfully on NSE's SME platform following an oversubscribed IPO. The company raised Rs 27.52 crore, with the IPO being 74.39 times oversubscribed at an issue price of Rs 128 per share. Curis reported strong financials with revenue of Rs 49.65 crore (38% growth) and profit of Rs 6.11 crore (25% growth). IPO proceeds will be used for facility upgrades, storage construction, loan prepayment, market expansion, and working capital requirements.
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Pharmaceutical manufacturer Curis Lifesciences made a robust debut on the National Stock Exchange's (NSE) Small and Medium Enterprises (SME) platform, riding on the back of an overwhelmingly successful Initial Public Offering (IPO).
IPO Performance
The company's IPO, which raised Rs 27.52 crore through a fresh issue of shares, witnessed an extraordinary response from investors:
- Subscription Rate: 74.39 times oversubscribed
- Issue Price: Rs 128 per share
- Grey Market Premium: Rs 9 per share (7% above issue price)
Company Financials
Curis Lifesciences has demonstrated strong financial performance in recent times:
| Metric | Amount | Growth |
|---|---|---|
| Revenue | Rs 49.65 crore | 38% |
| Profit | Rs 6.11 crore | 25% |
IPO Proceeds Allocation
The company plans to utilize the funds raised from the IPO for various purposes:
- Facility upgrades
- Storage construction
- Loan prepayment
- Market expansion
- Working capital requirements
Market Outlook
The strong investor interest in Curis Lifesciences' IPO, coupled with its impressive financial growth, suggests a positive market sentiment towards the pharmaceutical sector. The company's successful listing on the NSE SME platform could potentially pave the way for its future growth and expansion in the competitive pharmaceutical industry.
Investors and market watchers will likely keep a close eye on how Curis Lifesciences leverages its newly acquired capital to strengthen its market position and drive further growth in the coming quarters.
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