Aptus Pharma IPO Day 1: Subscribed 1.76 Times on Strong NII and Retail Demand

Ahmedabad, September 23, 2025 — Aptus Pharma Limited’s Initial Public Offering (IPO) saw robust demand on day one, with total subscription of 1.76 times as of 4:27 PM. Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) were in the forefront, with Qualified Institutional Buyers (QIBs) sitting on the sidelines.

Day 1 Subscription Status

As per exchange numbers, the IPO received bids for 23.48 lakh shares against the 13.32 lakh shares offered.

• QIBs: None so far, with institutional interest likely to gather pace in the last couple of days.
• NIIs: Subscribed 3.53 times, as high-value applications of over ₹10 lakh headed the charge (oversubscribed 5.84 times). Lower NII applications up to ₹10 lakh recorded subscription of 2.64 times.
• Retail Investors: subscribed 1.74 times, indicating uniform participation by small investors.
• Employees: No portion reserved in this issue.

At the price band of ₹65–₹70, overwhelming demand was at the higher end, with 11.22 lakh shares bid at ₹70 and 11.42 lakh shares at ₹65, indicating overwhelming confidence in valuations.

Anchor Investor Allocation

Pre-IPO, Aptus Pharma mobilized ₹3.70 crore of anchor allocation from anchor investors by issuing 5.28 lakh shares at ₹70 per share. The allotment was to:

• 31 Degrees North Fund – Fund I: 1,92,000 shares (36.36%)
• Eminence Global Fund PCC – Eubilía Capital Partners Fund I: 1,92,000 shares (36.36%)
• Zeal Global Opportunities Fund: 1,44,000 shares (27.87%)

The anchor commitment lent strength to the issue as a testament to institutional confidence, in spite of the small issue size.

Company Overview

Established in 2010, Aptus Pharma is Ahmedabad-based pharmaceutical distributor that functions with a contract manufacturing model. The firm collaborates with seven units to sell and distribute formulations in different therapeutic classes such as.

• Anti-infectives
• Gastrointestinal care
• Pain management
• Cardiovascular and anti-diabetic therapies
• Neuro-psychiatric therapies
• General wellness products

Its product line ranges from a variety of tablets, capsules, and syrups to injections, ointments, and drops, offering a broad range of healthcare solutions.

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