Anondita Medicare IPO 2025: 7 Powerful Insights for Smart Investors

Anondita Medicare IPO Details

• IPO Type: Book Built Issue
• Issue Size: ₹69.50 Crores
• Fresh Issue: 0.48 Crore Shares (Entirely Fresh Issue)
• Offer for Sale (OFS): Nil

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📅 IPO Timeline (Tentative)

• IPO Opens: August 22, 2025
• IPO Closes: August 26, 2025
• Basis of Allotment: August 28, 2025
• Refunds Initiation: August 29, 2025
• Demat Credit: August 29, 2025
• Listing Date: September 1, 2025
• Exchange: NSE SME

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💰 Price & Lot Size

• Price Band: ₹137 – ₹145 per share
• Lot Size: 1,000 shares
• Minimum Retail Investment:
  • 2 Lots (2,000 shares) = ₹2,74,000
• HNI Minimum Investment:
  • 3 Lots (3,000 shares) = ₹4,35,000

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Anondita Medicare IPO Details (NSE SME)

Basic Information

Detail	Info
IPO Date	August 22, 2025 – August 26, 2025
Listing Date	September 1, 2025 (Tentative)
Face Value	₹10 per share
Issue Price	₹137 – ₹145 per share (Final price: ₹145)
Lot Size	1,000 shares (Min. 2 lots = 2,000 shares)
Issue Size	47,93,000 shares (₹69.50 Cr)
Fresh Issue	Entire issue (₹69.50 Cr)
Market Maker Reservation	2,70,000 shares (₹3.92 Cr) – Mansi Share & Stock Broking Pvt. Ltd.
Net Offered to Public	45,23,000 shares (₹65.58 Cr)
Issue Type	Book Building IPO
Exchange	NSE SME
Pre-Issue Shareholding	1,32,93,618 shares
Post-Issue Shareholding	1,80,86,618 shares

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Reservation (Share Allocation)

Category	Shares Offered	% of Net Issue
Market Maker	2,70,000	5.63%
QIB	22,56,000	47.07%
NII (HNI)	6,81,000	14.21%
Retail (RII)	15,86,000	33.09%
Anchor Investors	13,50,000	28.17%
Total	47,93,000	100%

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Anchor Investors

• Anchor Bid Date: August 21, 2025
• Shares Offered: 13,50,000
• Amount Raised: ₹19.58 Cr
• Lock-in:
  • 50% shares till Sep 27, 2025
  • 50% shares till Nov 26, 2025

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IPO Lot Size

Investor Category	Lots	Shares	Amount
Retail (Min & Max)	2	2,000	₹2,90,000
S-HNI (Min)	3	3,000	₹4,35,000
S-HNI (Max)	6	6,000	₹8,70,000
B-HNI (Min)	7	7,000	₹10,15,000

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Promoter Holding

• Promoters: Mr. Anupam Ghosh, Mrs. Sonia Ghosh & Mr. Reshant Ghosh
• Pre-Issue: 83.95%
• Post-Issue: 61.71%

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About the Company

• Incorporated March 2024, headquartered in Noida, Uttar Pradesh.
• Manufacturer of male flavored condoms under the flagship brand “COBRA”.
• Annual production: 562 million condoms.
• Export markets: Southeast Asia, Africa, Middle East.
• Strong ties with NGOs, global health organizations, govt. programs.
• Workforce: 280 employees (as of July 31, 2025).

Competitive Strengths
✔ One of the significant condom manufacturers in India
✔ Well-recognized brand in North India
✔ Wide product portfolio & distribution network

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Financials (₹ in Crores)

Period	Assets	Revenue	EBITDA	PAT	Net Worth	Borrowings
FY25	78.27	77.13	25.65	16.42	37.87	27.39
FY24	42.92	46.56	9.09	3.84	10.59	24.01
FY23	37.80	36.14	3.58	0.35	8.69	22.66

📈 Growth FY24 → FY25:

• Revenue ↑ 66%
• PAT ↑ 327%

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Key Ratios / KPIs

• Market Cap: ₹262.26 Cr
• ROE: 41.71%
• ROCE: 37.42%
• Debt/Equity: 0.70
• PAT Margin: 21.32%
• EBITDA Margin: 33.32%
• P/E: 11.74x (Pre-IPO EPS 12.35), 15.98x (Post-IPO EPS 9.08)
• Price/Book: 15.07x

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Objects of the Issue

1. Capital Expenditure (equipment/machineries) – ₹60 Mn
2. Working Capital Requirement – ₹350 Mn
3. General Corporate Purposes / Acquisitions

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Subscription Status (till Aug 25, 2025 – Day 2)

• QIB (Ex Anchor): 2.17×
• NII (HNI): 56.77×
• Retail (RII): 56.63×
• Overall: 41.11×
• Applications: 51,806

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Review Highlights

• Strong growth in revenue & profits but sudden FY25 profit surge raises valuation concerns.
• Business niche (condoms) with established exports and NGO/government tie-ups.
• High P/BV and post-issue P/E makes the IPO appear aggressively priced.
• Analyst view: Suitable only for well-informed investors with medium-term horizon.