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

📅 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

💰 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

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%

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

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

Promoter Holding

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

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

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%

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

Objects of the Issue

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

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

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.

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