Fixed Price IPO | ₹11 Cr | Listed at BSE SME | Mon, Jan 29, 2018 - Wed, Jan 31, 2018
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Mon, Jan 29, 2018
IPO Close
Wed, Jan 31, 2018
Issue Price
₹100 per share
Market Cap (Pre-IPO)
₹41.49 Cr
| IPO Date | 29 to 31 Jan, 2018 |
| Listed on | Thu, Feb 8, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹100 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 10,99,200 shares (agg. up to ₹11 Cr) |
| Reserved for Market Maker | 57,600 shares Aryaman Capital Markets Ltd. (agg. up to ₹0.5760 Cr) |
| Fresh Issue (Ex Market Maker) | 8,91,600 shares (agg. up to ₹9 Cr) |
| Offer for Sale | 1,50,000 shares of ₹10 (agg. up to ₹2 Cr) |
| Net Offered to Public | 10,41,600 shares (agg. up to ₹10 Cr) |
| Share Holding Pre Issue | 32,00,000 shares |
| Share Holding Post Issue | 41,49,200 shares |
| BSE Script Code | 540937 MEDICO |
| ISIN | INE630Y01016 |
Medico Remedies IPO comprises a total issue size of 10,99,200 shares. The net offer to the public is 10,41,600 shares, after excluding 57,600 shares allotted on a firm basis. Of the Net offer 5,20,800 (50.00%) allocated to NII 5,20,800 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 5,20,800 | 50.00% | 47.38% |
| Retail Shares Offered | 5,20,800 | 50.00% | 47.38% |
| Firm Reservations | |||
| Market Maker Shares Offered | 57,600 | 5.24% | |
| Total Shares Offered | 10,99,200 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| 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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment of loans | 7.72 |
| 2 | Funding expenditure for General Corporate Purposes | 1.28 |
The Medico Remedies IPO is subscribed 1.84 times on January 31, 2018 5:00:00 PM (Day 3). The public issue subscribed 2.52 times in the retail category, [.] times in the QIB category, and 1.16 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 1.16 | 5,20,800 | 6,02,400 |
| Retail | 2.52 | 5,20,800 | 13,12,800 |
| Total | 1.84 | 10,41,600 | 19,15,200 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including fees and reimbursements of Market Making fees, selling commissions, and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses. | 0.43 |
| 2 | Issue Brokerage | 0.04 |
| 3 | Printing & Stationery, Distribution, Postage, etc | 0.02 |
| 4 | Advertisement and Marketing Expenses | 0.02 |
| 5 | Stock Exchange Fees, Regulatory and other Expenses | 0.05 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹100.00 |
| Open | ₹100.00 |
| Low | ₹90.00 |
| High | ₹100.00 |
| Last Trade | ₹97.15 |
Lead Manager Reports
Medico Remedies IPO is a SME IPO of 10,99,200 equity shares of the face value of ₹10 aggregating up to ₹11 Crores. The issue is priced at ₹100 per share. The minimum order quantity is 1200.
The IPO opens on Mon, Jan 29, 2018, and closes on Wed, Jan 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 Mon, Jan 29, 2018 and closes on Wed, Jan 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 Thu, Feb 8, 2018.
