Vijaypd Ceutical IPO Set for NSE SME Listing Amid Tepid Market Response
Vijaypd Ceutical, a pharmaceutical and FMCG distributor, is set to list on the NSE SME platform on October 7. The company's Rs 19.25 crore IPO received a modest 1.37 times subscription, with non-institutional investors subscribing 1.86 times and retail investors 0.89 times. The grey market premium is around zero, suggesting a listing close to the issue price of Rs 35 per share. Vijaypd Ceutical collaborates with over 170 healthcare manufacturers, serves more than 2,100 pharmacies across four districts, and offers over 19,000 SKUs. The company's financials show significant growth, with revenue increasing from Rs 54.30 crore to Rs 107.60 crore and profit after tax rising from Rs 1.65 crore to Rs 4.80 crore year-over-year.
*this image is generated using AI for illustrative purposes only.
Vijaypd Ceutical, a pharmaceutical and FMCG distribution company, is poised to make its debut on the NSE SME platform on October 7. The company's initial public offering (IPO) has garnered a modest response from investors, reflecting the current cautious sentiment in the SME listing space.
IPO Performance
The Rs 19.25 crore IPO of Vijaypd Ceutical received a moderate subscription of 1.37 times. Here's a breakdown of the subscription details:
| Investor Category | Subscription Rate |
|---|---|
| Non-Institutional Investors | 1.86 times |
| Retail Investors | 0.89 times |
Grey Market Premium and Listing Expectations
The grey market premium for Vijaypd Ceutical shares is currently hovering around zero, indicating that the stock is expected to list close to its issue price of Rs 35 per share. This flat premium suggests investor caution, particularly in light of recent SME listings struggling to maintain post-listing gains.
Company Overview
Vijaypd Ceutical operates in the pharmaceutical and FMCG distribution sector, with a significant presence in the healthcare supply chain:
- Collaborates with over 170 healthcare manufacturers
- Serves more than 2,100 pharmacies and clinics across four districts
- Offers a diverse range of over 19,000 SKUs (Stock Keeping Units)
Financial Performance
The company has demonstrated strong financial growth:
| Fiscal Year | Revenue (in Rs crore) | Profit After Tax (in Rs crore) | YoY Growth in PAT |
|---|---|---|---|
| FY24 | 54.30 | 1.65 | - |
| FY25 | 107.60 | 4.80 | 191.00% |
Market Context
The tepid response to Vijaypd Ceutical's IPO and the flat grey market premium should be viewed in the context of the current SME listing environment. Investors appear to be exercising caution, particularly given the challenges faced by recent SME debutants in maintaining their post-listing gains.
As Vijaypd Ceutical prepares for its NSE SME listing, market participants will be closely watching its performance, especially in light of its strong financial growth and the current market sentiment towards SME listings.
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