- Price band
- To be announcedNot in this filing
- Issue size
- 18,60,000 sharesFresh issue · amount set with price
- Face value
- ₹10per equity share
- Lot size
- To be announcedMin. investment shown once set
- Anchor biddingMon, 2025
- OpensTue, 2025
- ClosesThu, 2025
- AllotmentMon, 2025Refunds and Demat credit same day
- ListingTue, 2025
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- 18,60,000 shares
- Offer for sale
- None
- Total issue
- 18,60,000 shares
- Market maker portion
- 94,000 shares
- Face value
- ₹10
- Listing at
- BSE SME
- RHP date
- 13 Sept 2025
Source: Red Herring Prospectus dated 13 Sept 2025Updated
Reservation
Share of the total issue- QIB47.3%
- Retail33.3%
- NII14.3%
- Market maker5.1%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 6,20,000 | 35.11% | 35% |
| Non-institutional investors (NII) | 2,66,000 | 15.06% | 15% |
| Qualified institutional buyers (QIB) | 8,80,000 | 49.83% | 50% |
| Market maker | 94,000 | — | — |
Source: Red Herring Prospectus dated 13 Sept 2025Updated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2022-23- EPS (basic)
- ₹1.3
- EPS (basic) (FY 2023-24)
- ₹5.32
- EPS (basic) (FY 2024-25)
- ₹6.37
- RoNW (FY 2024-25)
- 44.50%
- NAV per share (FY 2024-25)
- ₹13.93
- ROCE (FY 2024-25)
- 45.66%
- Debt to equity (FY 2024-25)
- 1.49
- EBITDA margin (FY 2024-25)
- 19.31%
- PAT margin (FY 2024-25)
- 12.62%
P/E and market cap are calculated once the price band is announced.
Source: Red Herring Prospectus dated 13 Sept 2025Updated
Financials
Standalone, restated · ₹ crore| Period ended | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|
| Revenue from operations | 24.56 | 17.86 | 13.90 |
| Total income | 24.64 | 17.88 | 13.90 |
| EBITDA | 4.76 | 1.49 | 0.57 |
| Profit after tax | 3.10 | 0.80 | 0.19 |
| Net worth | 6.97 | 1.77 | 0.97 |
| Reserves and surplus | 1.97 | — | — |
| Total borrowing | 10.36 | 5.31 | 2.21 |
FY 2024-25 vs FY 2023-24: revenue +37.5%, profit after tax +288.4%.
Source: Red Herring Prospectus dated 13 Sept 2025Updated
About the company
The company markets and distributes finished pharmaceutical formulations under its own brand names, using third-party contract manufacturers rather than owning manufacturing plants. Its product range spans therapeutic areas such as anti-infectives, cardiovascular, anti-diabetic and pain management, across dosage forms including tablets, syrups and injections. It operates mainly in Gujarat and West Bengal and plans to expand into other Indian states and overseas markets.
- Incorporated
- 2010
- Industry
- Pharmaceuticals
- Sector
- Healthcare and Pharma
- CIN
- U24230GJ2010PLC061957
- Website
- aptus-pharma.com
Source: Red Herring Prospectus dated 13 Sept 2025Updated
Promoters and shareholders
| Name | Before issue | After issue |
|---|---|---|
| Tejash Maheshchandra Hathi | 15.50% | — |
| Kapilbhai Hasmukhbhai Chandarana | 15.50% | — |
| Milly Chetan Lalseta | 11.50% | — |
| Riddhish Natwarlal Tanna | 11.50% | — |
Source: Red Herring Prospectus dated 13 Sept 2025Updated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Capital expenditure for office premises, furniture and industrial racks | 1.63 |
| Working capital requirement for FY 2025-26 | 8.00 |
| General corporate purposes | Set with price |
Source: Red Herring Prospectus dated 13 Sept 2025Updated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Aptus Pharma LimitedIssuer | ₹5.32 | — | 44.50% | ₹13.93 |
| Zota Health Care Limited | ₹3.16 | 382.12× | 2.72% | ₹110.83 |
| Sunrest Lifescience Limited | ₹4.66 | 10.56× | 12.36% | ₹37.72 |
| Lincoln Pharmaceuticals Limited | ₹41.11 | 13.53× | 12.26% | ₹335.34 |
Source: Red Herring Prospectus dated 13 Sept 2025Updated
Strengths and risks
Our summary of what the offer document statesStrengths
- Broad portfolio of pharmaceutical formulations across many therapeutic categories and dosage forms.
- Asset-light model that relies on contract manufacturers rather than owned plants.
- Revenue has grown over the three years shown in the restated financials.
- Profitability improved sharply in FY 2024-25 compared with earlier years.
Risks
- Relies on third-party contract manufacturers without long-term agreements, and products are ordered on a purchase-order basis.
- A significant share of revenue comes from a small number of customers.
- Operations depend on many renewable statutory approvals and licences.
- Protection of trademarks is incomplete, with many applications still pending.
- Indemnity terms with contract manufacturers are not pre-determined, which could leave the company exposed to product liability claims.
Source: Red Herring Prospectus dated 13 Sept 2025Updated
Contacts
Source: Red Herring Prospectus dated 13 Sept 2025Updated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: Red Herring Prospectus dated 13 Sept 2025Updated
After listing
Listing price, day-one high and low, and the change from the issue price (set at allotment) appear here after the shares list on BSE SME.
Frequently asked questions
When does the Aptus Pharma IPO open and close?
According to the Red Herring Prospectus, the issue opens on Tuesday, 23 September 2025 and closes on Thursday, 25 September 2025. These dates are tentative.
What is the Aptus Pharma IPO price band?
The Red Herring Prospectus does not include a price band. The company announces it by advertisement before the issue opens, and this page is updated when it is filed.
Where will Aptus Pharma shares list?
On BSE SME. The tentative listing date is Tuesday, 30 September 2025.
Who is the registrar of the issue?
Bigshare Services Private Limited (SEBI registration INR000001385). Allotment status is checked on the registrar's website.
How do I check the Aptus Pharma IPO allotment status?
The basis of allotment is expected to be finalised on Monday, 29 September 2025. After that, search by PAN, application number or DP/client ID on the registrar's website (Bigshare Services Private Limited) or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹1.63 Cr for capital expenditure for office premises, furniture and industrial racks, ₹8 Cr for working capital requirement for FY 2025-26, and the rest for the other stated purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.