- Issue price
- ₹124per share
- Issue size
- ₹29.14 Cr23,50,000 shares
- Face value
- ₹10per equity share
- Lot size
- 2,000 sharesMin. ₹2.48 L at the upper price
- OpensFri, 2026
- ClosesTue, 2026
- AllotmentWed, 2026
- ListingMon, 2026
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
- 23,50,000 shares (₹29.14 Cr)
- Offer for sale
- None
- Total issue
- 23,50,000 shares (₹29.14 Cr)
- Market maker portion
- 1,50,000 shares
- Face value
- ₹10
- Listing at
- BSE SME
- Promoter holding
- 57.04% → 41.78%
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail46.4%
- Big NII30.9%
- Small NII15.4%
- QIB0.9%
- Market maker6.4%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 10,90,000 | 49.55% | 49% |
| Non-institutional investors (NII) | 10,89,000 | 49.50% | 49% |
| Small NII (₹2–10 lakh) | 3,63,000 | 16.50% | — |
| Big NII (above ₹10 lakh) | 7,26,000 | 33.00% | — |
| Qualified institutional buyers (QIB) | 21,000 | 0.95% | 2% |
| Market maker | 1,50,000 | — | — |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2024-25- EPS (basic)
- ₹14.1
- EPS (basic) (Period ended October 31, 2025)
- ₹9.41
- EPS (basic) (FY 2023-24)
- ₹7.07
- EPS (basic) (FY 2022-23)
- ₹4.74
- RoNW
- 28.42%
- RoNW (Period ended October 31, 2025)
- 16.61%
- RoNW (FY 2023-24)
- 19.47%
- RoNW (FY 2022-23)
- 28.60%
- NAV per share (Period ended October 31, 2025)
- ₹56.67
- NAV per share
- ₹47.07
- NAV per share (FY 2023-24)
- ₹29.44
- NAV per share (FY 2022-23)
- ₹15.53
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|
| Revenue from operations | 58.27 | 27.52 | 23.18 |
| Total income | 58.54 | 27.66 | 23.20 |
| EBITDA | 9.09 | 5.26 | 3.58 |
| Profit after tax | 8.61 | 2.93 | 1.70 |
| Net worth | 30.42 | 15.06 | 5.93 |
| Reserves and surplus | 23.98 | 9.95 | 2.11 |
| Total assets | 39.98 | 22.68 | 13.26 |
| Total borrowing | 5.05 | 2.86 | 3.64 |
FY 2024-25 vs FY 2023-24: revenue +111.7%, profit after tax +193.4%.
Source: ProspectusUpdated
About the company
The company markets and distributes finished specialty pharmaceutical formulations, including oral and injectable products for oncology, immunology, neurology and rare diseases. It works through two models: contract manufacturing of approved formulations for international markets, and marketing and distribution of products sourced from domestic manufacturers.
- Incorporated
- 2021
- Industry
- Pharmaceuticals
- CIN
- U85300GJ2021PLC120022
- Website
- specialitymedicine.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue |
|---|---|---|
| Parth Goyani | 28.83% | 21.12% |
| Sumit Goyani | 28.21% | 20.66% |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Setting up a research and development centre at Valsad, Gujarat | 12.68 |
| Product registration and development for international markets | 2.99 |
| Funding marketing and promotional activities | 1.66 |
| Meeting working capital requirements | 8.00 |
| General corporate purposes | 0.25 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Operates two business models: contract manufacturing for international markets and domestic marketing and distribution.
- Product range spans oncology, immunology, neurology and rare diseases across many dosage forms.
- Revenue and profit after tax rose over FY 2022-23 to FY 2024-25.
- Has a research and development centre planned to support in-house product development and regulatory filings.
Risks
- A promoter and director is facing a pending criminal case, and any adverse outcome could affect the business.
- Top ten customers contributed about 80% of revenue from operations in the period ended October 31, 2025.
- Relies on a limited number of suppliers and has no long-term supply contracts.
- Operating cash flow was negative in each of the last three financial years.
- Proposed R&D centre has not yet had orders placed and faces risks of delay and cost overrun.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
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: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹124) appear here after the shares list on BSE SME.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Speciality Medicines IPO open and close?
According to the Prospectus, the issue opens on Friday, 20 March 2026 and closes on Tuesday, 24 March 2026.
What is the Speciality Medicines IPO price band?
The final issue price is ₹124 per share.
What is the lot size of the Speciality Medicines IPO?
One lot is 2,000 shares, which is ₹2.48 L at ₹124 per share.
Where will Speciality Medicines shares list?
On BSE SME. The tentative listing date is Monday, 30 March 2026.
Who is the registrar of the issue?
Skyline Financial Services Private Limited (SEBI registration INR000003241). Allotment status is checked on the registrar's website.
How do I check the Speciality Medicines IPO allotment status?
The basis of allotment is expected to be finalised on Wednesday, 25 March 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (Skyline Financial 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?
₹12.68 Cr for setting up a research and development centre at Valsad, Gujarat, ₹2.99 Cr for product registration and development for international markets, ₹1.66 Cr for funding marketing and promotional activities, ₹8 Cr for meeting working capital requirements, ₹25 L for general corporate purposes.
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Spotted something wrong?
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