Claroid Pharmaceuticals Files DRHP With Sebi For IPO To Fund ₹168-Crore Ahmedabad Manufacturing Facility
· Free Press Journal
New Delhi, Sep 23: Pharmaceutical formulations manufacturer Claroid Pharmaceuticals has filed draft papers with the capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The Gujarat-based company's proposed IPO comprises a fresh issue of up to 74.50 lakh equity shares and an offer for sale of up to 51.50 lakh shares, aggregating to 1.26 crore equity shares, according to the draft red herring prospectus (DRHP).
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The net proceeds from the fresh issue will be used to fund capital expenditure for setting up a new manufacturing facility at the company's existing land in Ahmedabad.
The proposed facility will manufacture injectables, ampoules, vials, dry powder, pre-filled syringes and eye-drop products. The plant is estimated to cost around Rs 167.97 crore and will have an installed capacity of 15 lakh units per month.
Claroid Pharmaceuticals Ltd operates a manufacturing facility at Pirana, Ahmedabad. It manufactures tablets, capsules and ointments.
As per the draft papers, the company had developed 129 pharmaceutical formulations across therapeutic segments, including anti-infective, anti-inflammatory, anti-fungal, dermatology, pain management and gastrointestinal therapies.
The company has an export presence across markets including Nigeria, Tanzania, Kenya, Myanmar, Zanzibar and Botswana, with Nigeria being its largest export destination.
Its revenue from operations rose to Rs 169.72 crore in FY26 from Rs 62.98 crore in FY24, registering a compound annual growth rate (CAGR) of 64.13 per cent.
SEBI Board To Consider PMS Rule Overhaul, Settlement Reforms And Wider Accredited Investor Framework This WeekClaroid Pharmaceuticals also has GMP certifications from regulatory authorities in Rwanda, Ghana, Tanzania and Zanzibar.
The company has an in-house formulation and development facility as well as quality control, quality assurance and microbiology laboratories. It is supported by a network of more than 30 distributors across Africa.
Oneview Corporate Advisors and Valmiki Leela Capital are the book-running lead managers to the issue.
(Except for the headline, this article has not been edited by FPJ's editorial team and auto-generated from an agency feed.)