Accretion Pharmaceuticals IPO has opened for subscription on Wednesday, May 14 and will conclude on Friday, May 16. Accretion Pharmaceuticals IPO price band has been set in between ₹96 to ₹101 per equity share, with a face value of ₹10 each. Investors can place bids for a minimum of 1,200 equity shares and in increments of 1,2000 shares thereafter.
Accretion Pharmaceuticals Limited, established in 2012, is a company engaged in the production and sale of tablets, capsules, and various healthcare products.
The firm also provides contract manufacturing services. Its offerings include the manufacture and marketing of Tablets, Capsules, Oral Liquids, External Preparations (such as Ointment, Cream, Gel, Lotion, Medicated Shampoo, Mouthwash, and Dusting Powder), as well as Oral Powder (in Sachets and Dry Syrup form). The company operates its manufacturing facility in Ahmedabad, Sanand, Gujarat.
The array of products and services offered by the company encompasses Tablets and Capsules, Oral Liquids and Syrups, External Preparations, along with Ayurvedic and Herbal Products.
According to the red herring prospectus (RHP), the company’s publicly listed competitors include Sakar Healthcare Ltd (with a Price-to-Earnings ratio of 48.89), Lincoln Pharmaceuticals Ltd (with a P/E of 12.30), and Sotac Pharmaceuticals Ltd (with a P/E of 23.85).
Accretion Pharmaceuticals IPO Subscription Status
Accretion Pharmaceuticals IPO subscription status is 49%, on day 1 so far. The retail portion is subscribed 86%, and NII portion is booked 19%.
The company has received bids for 12,79,200 shares against 25,87,200 shares on offer, at 13:00 IST, according to data on chittorgarh.com
Accretion Pharmaceuticals IPO details
Accretion Pharmaceuticals IPO consists of a fresh issue of 29,46,000 equity shares, aggregating to ₹29.75 crore. There’s no offer for sale (OFS) component.
Accretion Pharmaceuticals IPO aims to use the net proceeds from the offering for various purposes, including capital expenditures for acquiring new equipment and enhancing the current manufacturing facility; paying off existing loans; covering working capital needs; and supporting general corporate activities.
Jawa Capital Services Private Limited serves as the book-running lead manager for the Accretion Pharmaceuticals IPO, while Kfin Technologies Limited acts as the registrar for this offering. The market maker for the Accretion Pharmaceuticals IPO is Gretex Share Broking Private Limited.
Accretion Pharmaceuticals IPO GMP today
Accretion Pharmaceuticals IPO GMP today is +20. This indicates Accretion Pharmaceuticals share price was trading at a premium of ₹20 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Accretion Pharmaceuticals share price is indicated at ₹121 apiece, which is 19.80% higher than the IPO price of ₹101.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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