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19 Nov 2024
Ahmedabad-based pharmaceutical company Amanta Healthcare Limited is planning to launch its IPO. The company has filed the Draft Red Herring Prospectus (DRHP) with SEBI. In this IPO, the company will issue 12.5 million new equity shares. This issue will not include any offer for sale, meaning all proceeds from the IPO will go directly to the company.
Amanta Healthcare manufactures sterile liquid products and parenteral products. Additionally, the company produces medical devices. In the therapeutic segment, it offers IV fluids, formulations, diluents, ophthalmic, respiratory care, and irrigation solutions. In the medical device segment, the company offers irrigation solutions, first aid solutions, and eye lubricants.
Founded in 1994, Amanta Healthcare has 113 active product registrations with international authorities. Beeline Capital Advisors is the sole book-running lead manager for this IPO.
Of the funds raised from the IPO, INR 700 million will be used to establish a new manufacturing line at the Steriport facility in Kheda, Gujarat. The company also plans to spend INR 300 million on setting up a new manufacturing line for small volume parenteral, purchasing equipment, plant, and machinery at the same facility. The remaining funds will be used for general corporate purposes.
In the fiscal year 2024, Amanta Healthcare reported a net profit of INR 36.2 million, compared to a loss of INR 21.1 million in the previous fiscal year. The company's revenue in FY24 was INR 2.803 billion, an 8.2% increase from INR 2.591 billion in the previous fiscal year.
Promoter Bhavesh Patel leads Amanta Healthcare, and this IPO is expected to play a crucial role in the company's expansion and development.
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