Quick IPO snapshot (at a glance)
- IPO Opening Date: 23 Sep 2025. (Business Standard)
- IPO Closing Date: 25 Sep 2025. (Business Standard)
- IPO Allotment Date: ~26 Sep 2025 (basis of allotment reported around this date). (IPO Watch)
- IPO Listing Date: Around 29–30 Sep 2025 (BSE SME listing). (Moneycontrol)
- IPO Price (Price Band): ₹65 – ₹70 per share. (Business Standard)
- IPO Lot Size: 2,000 shares per lot (SME issue — large lot). (Business Standard)
- Minimum Fund Required for Retailer (per lot at upper band): ₹140,000 per lot at ₹70 (some sources show retail can apply for up to 2 lots / check RHP for retail limits). Many SME IPO pages quote minimum investment figures of ₹1.3–2.8 lakhs depending on lot interpretation — confirm through your broker. (Moneycontrol)
- Maximum Fund cap apply (retail limit): Retail individual maximum application typically limited by number of lots allowed under SME rules — check your broker for the retail cap and the RHP. (Example publicised retail maximum shares/amounts vary across portals.) (Moneycontrol)
- Total Fund Raise by Company: ~₹13.02 crore (Book-building SME issue). (Business Standard)
Note: SME IPOs usually have larger lot sizes and different allotment rules; always confirm exact retail application limits with your broker or the RHP before bidding. (aptus-pharma.com)
About Aptus Pharma Ltd
Aptus Pharma Limited is a Gujarat-based pharmaceutical company that filed a Draft Red Herring Prospectus (DRHP) for a BSE SME listing. The company operates in the pharmaceutical manufacturing/supply space — contract manufacturing, formulations or similar pharma operations (see RHP/DRHP for the precise product mix and manufacturing footprint). The IPO being a 100% fresh-issue seeks to raise growth capital and expand the company’s operations. (HDFC Sky)
(For detailed legal & operational disclosures — manufacturing units, manufacturing capacity, licences, and risk factors — refer to the company’s RHP/DRHP PDF.) (Sharekhan)
Key management
Key management details, board composition and promoter holding are published in the DRHP — the promoters retained a significant stake pre-IPO and post-IPO promoter holding remains high (typical for SME issues). For exact names, experience and promoter shareholding percentages refer to the official RHP. (Sharekhan)
Major products / business lines
Aptus Pharma’s product / service mix and major SKUs are listed in the prospectus — expect conventional pharma formulations/contract manufacturing offerings typical of small-to-mid Indian pharma firms. For the precise product list and client/customer concentrations, check the RHP. (Sharekhan)
Financials (high-level)
- Revenue (FY2025): Reported ~₹24.6 crore (FY2025) vs ~₹17.9 crore (FY2024) — showing year-on-year revenue growth. (IPO Watch)
- Net profit (FY2025): Reported ~₹3.10 crore (FY2025) vs ~₹0.80 crore (FY2024) — profitability improved year-on-year. (IPO Watch)
- Issue size & structure: Total issue ~18.6 lakh shares (~₹13.02 crore at upper band) via BSE SME. (IPO Trend)
These numbers come from the company’s DRHP/RHP and analyst portals summarising the RHP — always cross-check figures directly in the prospectus before taking a decision. (Sharekhan)
Competitors and market context
Aptus Pharma competes with other regional/small-cap pharma manufacturers and contract manufacturers operating in formulations and related niches. Comparable listed peers include small-cap pharma firms on BSE/NSE and SME-listings that serve domestic generic markets or contract manufacturing. Competitive risks include pricing pressure, regulatory compliance, customer concentration and margin sensitivity to raw material costs. (For a precise peer list, search comparable BSE SME & small-cap pharma names operating in similar formulations/contract manufacturing segments.) (HDFC Sky)
Pros (what looks good)
- Revenue & profit growth: The company has shown YoY improvement in both revenue and profitability in FY2025. (IPO Watch)
- Small issue size: A relatively small fund raise (₹13.02 cr) may limit supply of shares at listing and — in some cases — can help listing pops if demand is strong. (Business Standard)
- Established regional operations: Filing a DRHP and going to BSE SME suggests an intention to scale and bring governance disclosures for public investors. (HDFC Sky)
Cons / Risks (what to watch)
- SME listing — higher risk & lower liquidity: BSE SME stocks are typically less liquid, trade on a smaller exchange segment and can be volatile. Listing gains are uncertain. (Business Standard)
- Large lot size / high minimum ticket: Lot of 2,000 shares (₹1.3–2.8 lakh depending on band and applications) makes it a relatively large minimum commitment for many retail investors. (Moneycontrol)
- Promoter concentration & limited public float: High promoter holding post-issue can limit free float and liquidity; decisions are promoter-driven. (AstroIPO)
- SME business & sector risks: Small pharma companies face regulatory, pricing and competition risks; dependence on a limited set of customers or products is common — check RHP for client concentration. (Sharekhan)
Conclusion — short take
Aptus Pharma shows improving financials and is raising a modest amount via a BSE SME issue. The fundamentals (growth in revenue and profit) are encouraging on paper, but the SME nature, large minimum investment (lot size), promoter concentration, and limited liquidity are material risks. (IPO Watch)
