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Medico Remedies IPO is a fixed price issue of ₹10.99 crores. The issue is a combination of fresh issue of 0.09 crore shares aggregating to ₹9.49 crores and offer for sale of 0.02 crore shares aggregating to ₹1.50 crores.
Medico Remedies IPO bidding started from Jan 29, 2018 and ended on Jan 31, 2018. The shares got listed on BSE SME on Feb 8, 2018.
Medico Remedies IPO price is ₹100.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (1200 shares). The minimum lot size investment for HNI is 2 lots (2,400 shares), amounting to ₹2,40,000.
Aryaman Financial Services Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The market maker of the company is Aryaman Capital Markets Ltd..
Refer to Medico Remedies IPO RHP for detailed Information.
| IPO Date | January 29, 2018 to January 31, 2018 |
| Listing Date | February 8, 2018 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹100 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 10,99,200 shares (aggregating up to ₹10.99 Cr) |
| Reserved for Market Maker | 57,600 shares Aryaman Capital Markets Ltd. (aggregating up to ₹0.5760 Cr) |
| Fresh Issue (Ex Market Maker) | 8,91,600 shares (aggregating up to ₹8.92 Cr) |
| Offer for Sale | 1,50,000 shares of ₹10 (aggregating up to ₹1.50 Cr) |
| Net Offered to Public | 10,41,600 shares (aggregating up to ₹10.42 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 32,00,000 shares |
| Share Holding Post Issue | 41,49,200 shares |
Medico Remedies IPO offers total 10,99,200 shares. Out of which 5,20,800 (47.38%) allocated to NII, 5,20,800 (47.38%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 57,600 (5.24%) |
| NII (HNI) Shares Offered | 5,20,800 (47.38%) |
| Retail Shares Offered | 5,20,800 (47.38%) |
| Total Shares Offered | 10,99,200 (100.00%) |
Medico Remedies IPO opens on January 29, 2018, and closes on January 31, 2018.
| IPO Open Date | Mon, Jan 29, 2018 |
| IPO Close Date | Wed, Jan 31, 2018 |
| Tentative Listing Date | Thu, Feb 8, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Jan 31, 2018 |
Investors can bid for a minimum of 1,200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,20,000 |
| Retail (Max) | 1 | 1,200 | ₹1,20,000 |
| HNI (Min) | 2 | 2,400 | ₹2,40,000 |
Incorporated in 1994, Medico Remedies Limited is a WHO-GMP & ISO-9001:2008 certified company engaged in manufacturing and selling of pharmaceutical formulation products in India.
The company offers formulation pharmacy products including anti-infective, beta lactum, cephalosporin, antimalarial, antiretroviral, and anti-ulcer drugs, as well as antacids; vitamins, haematinics and other supplements and nonsteroidal anti-inflammatory drugs, antihistaminics, anti-diabetics, cardio vascular drugs, diuretics, anti-epileptics, combination drug kits, syrups and creams and gels.
They serves wholesalers or traders of formulation products. The company also exports its products to Uganda, Myanmar, Vietnam, Cambodia, Dominican Republic, Sri Lanka, Philippines, Turkmenistan, Ghana, Mauritius, Madagascar, Congo, Iraq, Honduras, Cuba, Jamaica, Hong Kong, Nigeria, Senegal, Panama, Mozambique etc.
The Company Medico Remedies IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Repayment of loans | 7.72 |
| 2 | Funding expenditure for General Corporate Purposes | 1.28 |
[Dilip Davda] <p>There is no harm in giving this aggressively priced offer a miss.</p> Read detail review...
| Listing Date | February 8, 2018 |
| BSE Script Code | 540937 |
| NSE Symbol | MEDICO |
| ISIN | INE630Y01016 |
| Final Issue Price | ₹100 per share |
| BSE Listing Group | M |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹100.00 |
| Open | ₹100.00 |
| Low | ₹90.00 |
| High | ₹100.00 |
| Last Trade | ₹97.15 |
Medico Remedies Ltd.
50 Juhu Supreme Shopping Center,
Gulmahor Cross Road No.9,
Juhu,
Mumbai, Maharashtra, 400049
Phone: + 91-22-26701055/66
Email: info@medicoremedies.com
Website: http://www.medicoremediesindia.com
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email:
Website: https://ipo.cameoindia.com/
Medico Remedies IPO is a SME IPO of 10,99,200 equity shares of the face value of ₹10 aggregating up to ₹10.99 Crores. The issue is priced at ₹100 per share. The minimum order quantity is 1200.
The IPO opens on January 29, 2018, and closes on January 31, 2018.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Medico Remedies IPO using UPI as a payment gateway. Zerodha customers can apply in Medico Remedies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Medico Remedies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Medico Remedies IPO opens on January 29, 2018 and closes on January 31, 2018.
Medico Remedies IPO lot size is 1200, and the minimum amount required for application is ₹1,20,000.
You can apply in Medico Remedies IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Medico Remedies IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Medico Remedies IPO allotment status.
The Medico Remedies IPO listing date is on Thursday, February 8, 2018.
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