Chemical manufacturing company Anlon Healthcare has refiled the preliminary papers with the SEBI for fund raising via initial public offering, after the capital markets regulator returned earlier IPO papers last year.
The IPO comprises of solely fresh issue of 1.4 crore equity shares with no offer-for-sale component, as per the draft papers filed on February 20. Hence, the entire issue proceeds will be received by the company.
Earlier in October 2024, Gujarat-based Anlon had filed draft red herring prospectus with the SEBI, but in December 2024, the SEBI had returned those draft papers.
The company manufactures advance pharmaceutical intermediates (raw material used for manufacturing active pharmaceutical ingredients), and active pharmaceutical ingredients (APIs used as a raw material for pharmaceutical formulations.
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Anlon Healthcare plans to spend Rs 30.7 crore out of IPO proceeds for expansion of manufacturing facility, and Rs 43.15 crore for working capital requirements. Further, the fresh issue money will be utilised for repaying of debt, and remainder for general corporate purposes.
On the financial front, the company that competes with listed entities like Kronox Lab Sciences, AMI Organics, and Supriya Lifescience reported profit at Rs 9.65 crore for the year ended March 2024, rising sharply compared to Rs 5.82 crore in the previous year, however, the revenue dropped sharply to Rs 66.6 crore, from Rs 112.9 crore during the same period.
Further, profit for the 10 months period ended January 2025 stood at Rs 12 crore on revenue of Rs 77.2 crore.
The sole book running lead manager appointed for handling the public issue is Interactive Financial Services.
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