About Company’s Business:
Their primary business revolves around distributing healthcare products to retail pharmacies, hospitals, and healthcare clinics in India. By leveraging an integrated and technology-driven pan-India healthcare products distribution platform, they enhance the reach and accessibility of healthcare product manufacturers. As of September 30, 2023, the company operates 77 warehouses throughout the country, along with a last-mile delivery infrastructure and established relationships with pharmacies, hospitals, and clinics. This extensive network facilitates healthcare product manufacturers in making their products readily available to a diverse customer base.
About the Industry:
In the Financial Year 2023, the estimated value of the target addressable market for pharmaceutical distributors in India is â‚ą2.7 trillion. There is an anticipated growth of 10% to 11% Compound Annual Growth Rate (CAGR) from the Financial Year 2023 to the Financial Year 2028. As of March 31, 2023, the distribution landscape for pharmaceutical products in India is highly fragmented, featuring around 65,000 distributors. Unlike developed markets, where nationwide distributors hold a dominant market position, these distributors in India typically cater to limited local areas. According to a CRISIL Report, traditional local distributors command a substantial 90-92% market share, while large national distributors hold a comparatively smaller 8-10% market share.
Key Financial Information (â‚ą in million):
| Particulars | As of and for the six months ended September 30, 2023 | As of and for the six months ended September 30, 2022 | As of and for the Financial Year ended March 31, 2023 | As of and for the Financial Year ended March 31, 2022 | As of and for the Financial Year ended March 31, 2021 |
|---|---|---|---|---|---|
| Share capital | 160.67 | 41.12 | 41.12 | 38.50 | 1.00 |
| Net Worth (Total Equity) | 6,605.48 | 5,946.69 | 5,976.61 | 5,632.16 | 4,870.60 |
| Revenue | 18,955.01 | 15,839.68 | 33,002.07 | 25,220.65 | 17,797.37 |
| PAT (Profit After Tax) | 116.42 | (108.57) | (111.04) | (294.39) | (153.54) |
| Earnings per Share (basic) | 2.95 | (3.04) | (3.10) | (9.22) | (5.29) |
| Earnings per Share (diluted) | 2.95 | (3.04) | (3.10) | (9.22) | (5.29) |
| Net Asset Value per Equity Share | 166.90 | 156.90 | 157.08 | 155.42 | 165.17 |
| Total borrowings | 4,886.76 | 3,675.07 | 3,735.15 | 2,850.28 | 1,417.03 |
Objective of the Issue:
- Repayment/prepayment, in full or part, of certain borrowings availed of by our Company
- Funding of long-term working capital requirements of the Company and its Subsidiaries during Fiscals 2025 and 2026.
- General corporate purposes.
For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.
| Important information regarding the IPO | |
|---|---|
| Open Date | Friday, February 9, 2024 |
| Close Date | Tuesday, February 13, 2024 |
| Issue Size | â‚ą1,600.00 Cores |
| Price | â‚ą1195 to â‚ą1258 per share |
| Lot Size | 11 Shares |
| Basis of Allotment | Wednesday, February 14, 2024 |
| Initiation of Refunds | Thursday, February 15, 2024 |
| Credit of Shares to Demat | Thursday, February 15, 2024 |
| Listing Date | Friday, February 16, 2024 |
How to apply for this IPO?
You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.
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