Speciality Medicines ₹29 Crore IPO Opening On March 20

Mumbai, March 19: Speciality Medicines Limited’s IPO opens for subscription on Friday, marking the start of its ₹29.14 crore book-built public issue on the BSE SME platform. The issue will remain open until March 24, 2026, according to exchange disclosures and offer documents.

The offering is entirely a fresh issue of 0.24 crore shares, meaning the proceeds will flow directly into the company rather than existing shareholders. The structure, as outlined in the prospectus, signals a capital-raising exercise aimed at funding expansion and operational needs.

Price Band, Lot Size And Issue Structure

The company has fixed the price band at ₹117 to ₹124 per share. Investors can bid within this range during the book-building process, where final pricing is determined based on demand.

A book-building IPO allows investors to place bids within a specified price band, helping discover the final issue price through market demand rather than a fixed rate.

The lot size is set at 1,000 shares. Retail investors must apply for a minimum of 2 lots (2,000 shares), translating to an investment of ₹2,48,000 at the upper price band. For HNI investors, the minimum application starts at 3 lots (3,000 shares), amounting to ₹3,72,000.

Allocation And Reservation Breakdown

As per the offer structure, not more than 2% of the net issue is reserved for Qualified Institutional Buyers (QIBs). Retail investors and Non-Institutional Investors (NIIs) are each allocated not less than 49% of the net issue.

This allocation pattern is typical for SME IPOs, where retail participation plays a dominant role due to smaller issue sizes and limited institutional allocation.

IPO Timeline And Key Dates

The timeline reflects the standard SME IPO cycle, where allotment is typically finalized within a day of closure and listing follows shortly after completion of settlement processes.

Company Overview And Business Model

Incorporated in 2021, Speciality Medicines Limited operates in the marketing and distribution of specialty pharmaceutical formulations. Its portfolio includes high-cost oral and injectable drugs used in treating chronic and complex medical conditions.

The company functions through two primary models: contract manufacturing for international markets and direct marketing and distribution of specialty pharmaceutical products. Its product range spans tablets, capsules, injectables, inhalers, and other dosage forms.

Financial Snapshot

The company has reported fluctuating financial performance in recent periods. For the period ended October 31, 2025, total income stood at ₹36.93 crore, compared to ₹58.54 crore for FY25 and ₹27.66 crore for FY24.

Profit after tax was reported at ₹6.06 crore for the latest period, versus ₹8.61 crore in FY25 and ₹2.93 crore in FY24. Net worth has grown to ₹36.47 crore as of October 2025, indicating capital base expansion ahead of the IPO.

Use Of Proceeds

According to the prospectus, the company plans to deploy IPO proceeds toward setting up a research and development (R&D) center, product registration in international markets, and marketing initiatives.

A portion will also be allocated toward working capital requirements and general corporate purposes. The R&D investment, in particular, suggests a focus on expanding product capabilities and regulatory approvals.

Lead Managers And Registrar

Unistone Capital Pvt. Ltd. is acting as the book-running lead manager to the issue, while Skyline Financial Services Pvt. Ltd. has been appointed as the registrar.

A book-running lead manager oversees the IPO process, including pricing, marketing, and allocation, while the registrar handles application processing, allotment, and refunds

Source: https://www.bseindia.com/corporates/download/354383/DRHP%2014-08-2024_20240814070333.pdf