Speciality Medicines Shares List at IPO Price on BSE SME, Gain 4% on Debut
Speciality Medicines, a pharmaceutical company, made its market debut on the BSE SME platform on Monday, March 30, listing at its initial public offering (IPO) price of ₹124 per share.Soon after listing, the stock gained momentum, rising to ₹129.50, marking a 4.4% increase over the offer price. The initial listing aligned with expectations, as the grey market premium (GMP) remained nil, indicating a flat to modest debut. By 10.40 am, shares were trading 2.42% higher at ₹127 apiece.
Speciality Medicines IPO Details
The IPO, open for subscription from March 20 to March 24, was subscribed 2.27 times, with bids for 49,87,000 shares against the 22,00,000 shares on offer. Subscription details by category were:- Qualified Institutional Buyers (QIB): 96.24 times
- Non-Institutional Investors (NII): 1.88 times
- Retail Investors: 0.85 times
Proceeds from the IPO are intended for establishing an R&D centre, developing products for international markets, funding marketing and promotional activities, supporting working capital requirements, and other general corporate purposes.
Unistone Capital acted as the book-running lead manager, while Skyline Financial Services served as the registrar of the issue.
About Speciality Medicines
Speciality Medicines markets and distributes finished formulations of specialty pharmaceutical products, including high-cost oral and injectable medications for complex and chronic conditions in oncology, immunology, neurology, and rare diseases.The company operates through two integrated business models:
- Contract Manufacturing: Manufacturing approved formulations for international distribution.
- Marketing and Distribution: Procuring specialty pharmaceutical products from manufacturers and distributing them in target markets.
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.