The allotment for Aakaar Medical Technologies' IPO is anticipated to be finalised today, Wednesday, June 25, 2025, following robust investor interest and a healthy overall subscription. The ₹27 crore public issue, categorised under the NSE SME segment, garnered attention from both retail and institutional investors, indicating confidence in the company’s growth story in the aesthetic medical devices segment.

IPO Subscription Details: Moderate Demand Across Categories

The Aakaar Medical IPO was open for bidding from June 20 to June 24, 2025, and saw 2.28 times subscription across all investor categories. A total of 57 lakh shares were bid for against 24.96 lakh shares available.

• Retail investors subscribed their portion 1.93 times

• Non-Institutional Investors (NII) subscribed 1.48 times

• Qualified Institutional Buyers (QIBs) showed the strongest interest, subscribing their portion 3.51 times

This subscription pattern demonstrates broad-based investor participation, with QIB demand reinforcing credibility in the company’s fundamentals and future prospects.

Anchor Investment: Early Vote of Confidence

Ahead of the IPO, anchor investors infused ₹7.68 crore into the company on June 19, 2025, subscribing at the upper price band of ₹72. The anchor book is a crucial indicator of institutional confidence, and in this case, it provided a solid foundation for the retail and HNI segments.

Issue Structure and IPO Details

The Aakaar Medical IPO was a completely fresh issue of 37.50 lakh equity shares, aimed at raising a total of ₹27 crore. There was no offer for sale (OFS) component, ensuring that all proceeds will directly benefit the company.

Key Highlights:

• Price Band: ₹68–₹72 per share

• Lot Size: 1,600 shares per application

• Minimum Retail Investment: ₹1.15 lakh

• Listing Platform: NSE SME

• Tentative Listing Date: Friday, June 27, 2025

• Registrar to the Issue: Bigshare Services Pvt Ltd

• Lead Manager: Indorient Financial Services Ltd

• Market Maker: Alacrity Securities Ltd

How to Check Aakaar Medical IPO Allotment Status

Investors looking to verify their IPO allotment can do so through the Bigshare Services IPO allotment portal. Here’s a step-by-step guide:

1. Visit Bigshare Services IPO allotment page

2. Select Aakaar Medical Technologies IPO from the dropdown

3. Choose search option: PAN, Application Number, or Demat Account

4. Enter the relevant details

5. Type the captcha to verify

6. Click Submit to view your allotment status

Those allotted shares will see them credited to their Demat account by Thursday, June 26, while refunds for rejected applications will be initiated the same day.

GMP Analysis: Listing Gains Unlikely for Now

As of the allotment day, Aakaar Medical IPO’s Grey Market Premium (GMP) is ₹0, suggesting no premium over the upper issue price of ₹72. While this does not guarantee poor listing performance, it reflects a neutral market sentiment, possibly influenced by valuations or general market conditions.

Note: GMP is an unofficial indicator and does not reflect the stock exchange's price discovery mechanism.

Use of Proceeds: Focus on Working Capital and Growth

According to the prospectus, the net proceeds of ₹27 crore will be utilised in the following manner:

• ₹20.35 crore will be allocated towards working capital requirements

• Remaining funds will go towards general corporate purposes, including expanding operations and increasing brand footprint

This deployment is strategic, considering the company’s rising order book and expanding domestic and international product lines.

Company Profile: Aesthetic Healthcare with a Growing Market

Founded in June 2013, Aakaar Medical Technologies Limited is a specialised aesthetic healthcare company that offers both in-house and imported cosmetic medical products. It serves:

• Dermatologists

• Plastic Surgeons

• Aesthetic Physicians

• Cosmetologists

Product Categories:

• In-house products under proprietary brands

• Imported devices and consumables from South Korea, Spain, Italy, and Austria

• Clinical-use devices as well as direct-to-consumer offerings

The business model focuses on B2B distribution, where products are supplied to professionals who either use them in procedures or sell them to end customers.

Financial Performance: Strong Growth in Revenue and Profitability

The company has displayed an impressive financial growth trajectory over the last three years.

Revenue from Operations:

• FY23: ₹32.78 crore

• FY24: ₹46.11 crore

• FY25: ₹61.58 crore

Profit After Tax (PAT):

• FY23: ₹2.15 crore

• FY24: ₹2.87 crore

• FY25: ₹6.04 crore

This shows that the company almost tripled its PAT in two years, supported by operational efficiency and rising market demand.

Should Investors Expect Listing Gains?

Given the flat GMP of ₹0, the listing is expected at ₹72, equal to the issue price. While listing gains appear unlikely, the medium to long-term outlook remains positive, backed by:

• Strong financial fundamentals

• Niche aesthetic healthcare sector focus

• Well-diversified product sourcing

• Institutional confidence through anchor investor participation

However, short-term investors may tread cautiously, especially those who were aiming solely for listing premiums.

Conclusion: Aakaar Medical IPO – Long-Term Play in Niche Segment

With allotment results expected today and listing scheduled for June 27, 2025, Aakaar Medical Technologies IPO is one to watch closely. Despite muted grey market signals, the company’s fundamentals, market position, and steady profit growth make it a suitable long-term opportunity, especially for investors with an eye on India’s rising aesthetic healthcare market.

The Upcoming IPOs in this week and coming weeks are Crizac, Silky Overseas, Vandan Foods, Pushpa Jewellers, Cedaar Textile, Marc Loire Fashions.

The Current active IPO are Neetu Yoshi, Adcounty Media India, Moving Media Entertainment, Valencia India, PRO FX Tech, Ace Alpha Tech, Indogulf Cropsciences, Suntech Infra Solutions, Rama Telecom, Supertech EV, Sambhav Steel Tubes, HDB Financials.

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