Mumbai9 minutes ago
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Amanta Healthcare Limited is planning to launch its Initial Public Offering i.e. IPO. For the IPO, the company has filed draft papers i.e. Draft Red Herring Prospectus (DRHP) with the Securities Exchange Board of India i.e. SEBI.
In the IPO, 1.25 crore new equity shares will be issued by the Ahmedabad pharmaceutical company. This offer will not be for sale. That means the entire money received from IPO will go to the company. Amanta Healthcare manufactures sterile liquid products and parenteral products.
Apart from this, the company also manufactures medical devices. It offers fluid therapy (IV-fluids), formulations, dilutions, ophthalmic, respiratory care and irrigation solutions in the therapeutic segment. It also offers irrigation, first aid solutions, eye lubricants in the medical device segment.
Amanta Healthcare was incorporated in 1994. According to the prospectus filed on September 26 for the IPO, Amanta Healthcare, incorporated in 1994, has 113 active product registrations with international authorities. Beeline Capital Advisors is the sole book running lead manager for its IPO.
The company will spend Rs 70 crore of the funds raised from the IPO to set up a new manufacturing line of Steriport in Kheda, Gujarat. There is a target to spend Rs 30 crore for setting up a new manufacturing line for small volume parenterals in the same plant and purchasing equipment, plant and machinery. The remaining IPO funds will be used for general corporate purposes.
The company recorded a net profit of Rs 3.62 crore in FY24. The promoter of Amanta Healthcare is Bhavesh Patel. The company recorded a net profit of Rs 3.62 crore in FY 2024, whereas a year ago it had a loss of Rs 2.11 crore. The company’s revenue in FY 2024 was Rs 280.3 crore, which is 8.2% more than the revenue of Rs 259.1 crore in the previous financial year.