Amanta Healthcare files papers with SEBI to raise funds via IPO

Amanta Healthcare IPO

Ahmedabad-based pharmaceutical company Amanta Healthcare has filed draft red herring prospectus with the capital markets regulator SEBI, as it plans fund raising via initial public offering (IPO).

The IPO comprises of fresh issue of 1.25 crore equity shares by the company. Thus, the entire IPO funds will go to the company.

The company manufactures sterile liquid products - parenteral products, which are used for patients who cannot intake drug through oral route or drugs are not suitable for oral intake. Additionally, it also manufactures medical devices.

It offers fluid therapy (IV Fluid), formulations, diluents, ophthalmic, respiratory care and irrigation solutions in therapeutic segment and products like irrigation, first-aid solution, eye lubricants in medical device segment.

Incorporated in 1994, Amanta has 113 active product registrations with international authorities, as per the prospectus filed on September 26.

The company intends to spend Rs 70 crore out of the net fresh issue proceeds for setting up new manufacturing line of SteriPort at Kheda, Gujarat; and Rs 30 crore for purchase of equipment, plant and machinery for setting up new manufacturing line for small volume parenteral at the same plant. The remaining IPO funds will be used for general corporate purposes.

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Bhavesh Patel-promoted Amanta, which competes with Denis Chem Lab (the only comparable peer) in the listed space, has recorded net profit of Rs 3.62 crore for the fiscal year 2024, against loss of Rs 2.11 crore in the previous year. Revenue in the financial year ended March 2024 stood at Rs 280.3 crore, increasing by 8.2 percent from Rs 259.1 crore in the previous year.

Beeline Capital Advisors is the sole book running lead manager to the issue.

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