Claroid Pharmaceuticals Submits Draft Documents to SEBI to Generate Money through IPO

In an effort to go public, Claroid Pharmaceuticals has submitted draft documents with SEBI for its proposed initial public offer (IPO). 

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As per the terms of the IPO, the company wants to launch a fresh issue of as many as 74.50 lakh equity shares along with an offer for sale of as many as 51.50 lakh shares. The total number of shares involved in this IPO can be 1.26 crore at the highest level, as per the draft red herring prospectus. 

One major chunk of this fund raised would be used to build a new manufacturing unit at Ahmedabad, which has been purchased by Claroid Pharmaceuticals. 

Manufacturing plant to come up in Ahmedabad 

As per the estimated figures of the company, the cost of building the new plant would come to around ₹167.97 crore. When constructed, the installed capacity of the plant would be 15 lakh units per month. 

The product categories which would be manufactured here include injectables, ampoules, vials, dry powder, pre-filled syringes and eye drops. 

The company currently has one manufacturing facility in Ahmedabad at Pirana where it produces tablets, capsules and ointments. 

Revenue reaches ₹169.72 crore in FY26 

The draft papers also provide a look at the company’s recent revenue growth. 

The revenue from operations was ₹169.72 crore for the financial year FY26, while it was ₹62.98 crore for FY24. The compound annual growth rate for this period was 64.13%. 

Claroid has developed 129 pharmaceutical formulations covering several therapeutic areas. These include anti-infective, anti-inflammatory and anti-fungal products, as well as treatments in dermatology, pain management and gastrointestinal therapies. 

The company also runs its own formulation and development facility, along with laboratories for quality control, quality assurance and microbiology. 

Africa forms an important part of Claroid’s export network 

Outside India, Claroid sells its products in Nigeria, Tanzania, Kenya, Myanmar, Zanzibar and Botswana. Nigeria is its largest export market. 

The company’s distribution network includes more than 30 distributors across Africa. 

Claroid also holds Good Manufacturing Practices certifications from regulatory authorities in Rwanda, Ghana, Tanzania and Zanzibar. 

IPO details yet to be announced 

Oneview Corporate Advisors and Valmiki Leela Capital have been appointed as the book-running lead managers for the issue. 

For now, the company is at the draft filing stage. The Moneycontrol report does not provide details on the IPO price band, subscription dates or the amount Claroid expects to raise from the public issue. 

What is known is the structure of the proposed offer: up to 74.50 lakh new shares will be issued by the company, while another 51.50 lakh shares could be sold through the offer-for-sale portion.