The Anondita Medicare IPO has officially opened for subscription on 22 August 2025, attracting the attention of both retail and institutional investors. The IPO is a Book Built Issue amounting to ₹ 69.50 Crores, consisting entirely of a Fresh Issue of 47.93 Lakh Shares. The subscription window will remain open until 26 August 2025, and the allotment process is expected to be finalized by 28 August 2025, with a tentative listing date set for 1 September 2025 on the NSE SME platform.

The company has fixed the price band of Anondita Medicare IPO between ₹ 137 and ₹ 145 per equity share, while the lot size is 1,000 shares. For retail investors, the minimum application size is set at 2 lots (2,000 shares), amounting to ₹ 2,90,000 at the upper price band. The market capitalisation of Anondita Medicare at the IPO price of ₹ 145 per equity share stands at ₹ 262.26 Crores.

About the Company

Anondita Medicare Limited is a well-established manufacturer of male condoms with a wide range of flavors, marketed under its flagship brand “COBRA”. The company has built a significant market presence with an installed production capacity of 562 million condoms per annum, as certified by Chartered Engineer JP Sood on June 4, 2025.

The company is led by a strong promoter team including Mr. Anupam Ghosh (Managing Director) with over 25 years of experience in healthcare products, Mrs. Sonia Ghosh (Whole-Time Director) with 10 years of expertise in administration and human resources, and Mr. Reshant Ghosh (Whole-Time Director) specializing in marketing strategies, distribution networks, and engagement with distributors.

Financial Performance

The financials of Anondita Medicare showcase consistent growth over the last three years. The revenues from operations were:

• ₹ 7,712.95 Lakh in FY 2025

• ₹ 4,655.53 Lakh in FY 2024

• ₹ 3,613.97 Lakh in FY 2023

The EBITDA showed a significant jump from ₹ 380.30 Lakh in FY 2023 to ₹ 921.53 Lakh in FY 2024, and further to ₹ 2,579.11 Lakh in FY 2025. The Profit After Tax (PAT) increased from ₹ 34.69 Lakh in FY 2023 to ₹ 384.47 Lakh in FY 2024, and ₹ 1,641.66 Lakh in FY 2025.

The pre-issue EPS stands at ₹ 14.04, and the post-issue EPS is projected at ₹ 8.73 for FY 2024. The pre-issue P/E ratio is 10.32x, while the post-issue P/E ratio is 16.60x, compared to an industry P/E ratio of 110x. The company has also reported an impressive ROCE of 37.42% and ROE of 41.71% for FY 2024, indicating healthy profitability and efficient use of capital.

IPO Subscription and Anchor Investors

As of 12:00 PM on 22 August 2025, the IPO subscription status shows that Anondita Medicare IPO has been subscribed 0.97 times on its opening day. The company successfully raised ₹ 19.60 Crores from Anchor Investors at ₹ 145 per share, allocating 13,52,000 equity shares in consultation with the book-running lead managers.

Grey Market Premium (GMP) Trends

The Grey Market Premium (GMP) of Anondita Medicare IPO is reported at ₹ 25, suggesting an expected listing price of ₹ 170 per share against the IPO price of ₹ 145. This represents a potential listing gain of 17.24%. However, it is important to note that the GMP is unofficial, depends on demand and supply in the unorganized market, and should not be the sole basis for investment decisions.

IPO Objectives

The net proceeds from the issue will be utilized for the following objectives:

1. ₹ 600.00 Lakh for funding capital expenditure related to purchase of equipment and machinery.

2. ₹ 3,500.00 Lakh for meeting the working capital requirements of the company.

3. The remaining proceeds will be used for unidentified acquisitions and general corporate purposes.

Important Dates to Remember

• IPO Open Date: 22 August 2025

• IPO Close Date: 26 August 2025

• Allotment Date: 28 August 2025

• Tentative Listing Date: 1 September 2025

• Exchange: NSE SME Platform

How to Check IPO Allotment Status

Investors can check the Anondita Medicare IPO allotment status online once it is finalized on 28 August 2025 by visiting the registrar’s website and entering details such as application number, PAN, or DP Client ID.

IPO Review

The Anondita Medicare IPO review indicates that the company has delivered strong financial growth and operates in a sector with stable demand. The valuation appears fair, and with a GMP suggesting potential listing gains, analysts recommend risk-tolerant investors to apply for the IPO with a focus on listing gains. However, long-term investors should carefully assess the market dynamics, industry competition, and regulatory environment before making decisions.

In summary, the Anondita Medicare IPO presents an interesting opportunity for investors. With a price band of 137 to 145, strong anchor investor participation, robust financial performance, and a GMP of 25 indicating healthy listing gains, the IPO is expected to garner significant attention from the market. Investors looking for short-term listing benefits may find this IPO attractive, while those considering a long-term investment should evaluate the company’s growth strategy and competitive edge.

The Upcoming IPOs in this week and coming weeks are Anlon Healthcare, NIS Management, Sattva Engineering Construction, Globtier Infotech, Current Infraprojects, Anondita Medicare, Classic Electrodes (India), Vikran Engineering, Shivashrit Foods.

The Current active IPO are ARC Insulation & Insulators, Mangal Electrical Industries, LGT Business Connextions, Vikram Solar, Gem Aromatics, Shreeji Shipping Global, Patel Retail.

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