The Anondita Medicare IPO has generated significant attention among investors, as it marks the entry of a well-established healthcare product manufacturer into the capital market. The company is known for manufacturing male condoms with a variety of flavours, marketed under its flagship brand COBRA. With an installed production capacity of nearly 562 million condoms per annum, as certified by JP Sood, Chartered Engineer, on June 04, 2025, the company has built a strong foundation in the Indian healthcare and contraceptive industry.

The IPO of Anondita Medicare Limited is a Book Built Issue amounting to ₹69.50 Crores, consisting entirely of a Fresh Issue of 47.93 Lakh Shares. The subscription period for the IPO opens on August 22, 2025, and closes on August 26, 2025. Investors are eagerly tracking the IPO due to its positive market sentiment and strong fundamentals. The allotment date has been set for Thursday, August 28, 2025, while the tentative listing date on the NSE SME platform is on Monday, September 01, 2025.

The price band of the IPO is fixed between ₹137 and ₹145 per equity share, with a lot size of 1,000 shares. For retail investors, the minimum investment is 2 lots (2,000 shares), amounting to ₹2,90,000 at the upper price band. At the IPO price of ₹145, the market capitalization of Anondita Medicare will be approximately ₹262.26 Crores.

The book running lead manager for the IPO is NARNOLIA FINANCIAL SERVICES LIMITED, while the registrar for the issue is MAASHITLA SECURITIES PRIVATE LIMITED. Additionally, Mansi Share Stock Broking Private Limited has been appointed as the Market Maker for the IPO.

Grey Market Premium (GMP) and Listing Gains

As of August 20, 2025, the Grey Market Premium (GMP) of the Anondita Medicare IPO stands at ₹25, which translates into an expected listing price of around ₹170 per share against the upper band price of ₹145. This indicates a 17.24% potential listing gain for investors. However, it is important to note that GMP trends are not official and are based on unorganized market sentiments.

Subscription Status and Anchor Investment

The live subscription status of the IPO as of 12:00 PM on August 25, 2025, shows that the issue has been subscribed 14.31 times on its second day of the subscription period. This reflects the strong demand for shares among retail investors, HNIs, and institutional buyers.

Anondita Medicare also successfully raised ₹19.60 Crores from Anchor Investors by allotting 13,52,000 equity shares at ₹145 per share in consultation with the Book Running Lead Manager. This move boosted investor confidence and added momentum to the IPO.

Financial Performance of Anondita Medicare

The company has shown steady financial growth over the last three fiscal years.

• The revenues from operations were ₹3,613.97 Lakh in FY23, ₹4,655.53 Lakh in FY24, and ₹7,712.95 Lakh in FY25.

• The EBITDA improved significantly from ₹380.30 Lakh in FY23 to ₹921.53 Lakh in FY24, and further to ₹2,579.11 Lakh in FY25.

• The Profit after Tax (PAT) grew remarkably from just ₹34.69 Lakh in FY23 to ₹384.47 Lakh in FY24, and surged to ₹1,641.66 Lakh in FY25.

These financials clearly demonstrate the company’s strong revenue growth, improved margins, and healthy profitability.

Valuation and Key Ratios

• The pre-issue EPS stands at ₹14.04, while the post-issue EPS is ₹8.73 for FY24.

• The pre-issue P/E ratio is 10.32x, while the post-issue P/E ratio is 16.60x, compared to the industry average P/E of 110x.

• The company has delivered impressive ROCE of 37.42% and ROE of 41.71% for FY24, indicating efficient use of capital and strong returns to shareholders.

These metrics suggest that the IPO is fairly priced and offers opportunities for investors looking for listing gains.

Objectives of the IPO

The company plans to utilize the net proceeds of the IPO as follows:

1. ₹600.00 Lakh for funding capital expenditure requirements for the purchase of equipment and machinery.

2. ₹3,500.00 Lakh for working capital requirements.

3. Balance funds for unidentified acquisitions and general corporate purposes.

Leadership and Management Team

The company is led by a strong management team:

• Mr. Anupam Ghosh, Managing Director and Promoter, with 25 years of experience in the healthcare products industry.

• Mrs. Sonia Ghosh, Whole Time Director and Promoter, with 10 years of experience in administrative and HR management.

• Mr. Reshant Ghosh, Whole Time Director and Promoter, with 3 years of experience in marketing and strategy development.

Their leadership has enabled the company to establish a strong foothold in the healthcare and contraceptive sector, with a focus on innovation, distribution, and brand building.

Review and Recommendation

The Anondita Medicare IPO review highlights the company’s robust financial performance, consistent growth, and positive market sentiment. The presence of anchor investors and strong subscription numbers further enhance its credibility.

With the GMP indicating a 17.24% listing gain, the IPO is particularly attractive for risk-seeking investors looking for short-term gains. However, long-term investors may also consider it due to the company’s sustained growth in revenues and profitability.

In conclusion, the Anondita Medicare IPO stands out as one of the most anticipated SME IPOs in 2025, combining strong fundamentals, growth potential, and attractive valuations. Investors are advised to track the allotment and listing closely, while understanding both the opportunities and risks associated with the issue.

The Upcoming IPOs in this week and coming weeks are Abril Paper Tech, Sneha Organics, Sugs Lloyd, Anlon Healthcare, NIS Management, Sattva Engineering Construction, Globtier Infotech, Current Infraprojects, Vikran Engineering.

The Current active IPO are Shivashrit Foods, Anondita Medicare, Classic Electrodes (India), ARC Insulation & Insulators, Mangal Electrical Industries, .

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.