Goldline Pharmaceutical IPO

Goldline Pharmaceutical IPO Subscription Status

Goldline Pharmaceutical IPO Day 1 Subscription Status (times)

IPO Details

• Open Date: 12 May 2026

• Close Date: 14 May 2026

• Minimum Investment: ₹2,58,000

• Lot Size:6,000 shares  (2 lots of 3000 shares)

• Price Range: ₹41 to ₹43 per share

• Listing: BSE SME

• Issue Size: ₹11.61 Crore

• Listing Date: 19 May 2026

IPO Timeline

• Bidding Start: 12 May 2026

• Bidding Ends: 14 May 2026

• Allotment Finalisation: 15 May 2026

• Refund Initiation: 18 May 2026

• Demat Transfer: 18 May 2026

• Listing: 19 May 2026

About Goldline Pharmaceuticals Limited

Goldline Pharmaceuticals Limited is engaged in the business of marketing pharmaceutical products under the “Goldline” brand. The company operates across multiple therapeutic segments and supplies products through a network catering to physicians, specialists, and healthcare practitioners.

Its portfolio is broadly divided into the following divisions:

1. Goldline Pharma – Focused on physicians, orthopaedics, ENT specialists, chest physicians, gastroenterology, neurology, urology, and surgery-related segments.
2. Goldline Cardinal – Serves speciality divisions including diabetology, endocrinology, cardiology, and general physician categories.
3. Goldline Aayushman – Concentrates on paediatricians, child specialists, neonatologists, and general practitioners.

As referenced in the RHP, the company markets more than 100 pharmaceutical products spread across these divisions.

Goldline Pharmaceutical IPO Details

Goldline Pharmaceutical IPO is a book-built SME public issue aggregating up to ₹11.61 crore. The offering consists entirely of a fresh issue of 25.62 lakh equity shares, while 1.38 lakh shares have been reserved for the market maker segment. The company proposes to list its equity shares on the BSE SME platform.

The IPO opens for subscription on 12 May 2026 and closes on 14 May 2026. Basis of allotment is expected to be finalised on 15 May 2026, while the tentative listing date has been fixed as 19 May 2026.

Goldline Pharmaceutical IPO is set to issue price band at ₹41 to ₹43 per share. The lot size for an application is 3,000 shares. The minimum amount of investment required by an individual investor (retail) is ₹2,58,000 (6,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (9,000 shares), amounting to ₹3,87,000. Cumulative Capital Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Nirman Share Brokers Pvt.Ltd.

Goldline Pharmaceutical IPO Overview

Particulars	Details
IPO Name	Goldline Pharmaceutical IPO
Issue Type	Bookbuilding IPO
Issue Size	₹12 Crore
Fresh Issue	25,62,000 Equity Shares
Market Maker Portion	1,38,000 Equity Shares
Face Value	₹10 per share
Price Band	₹41 to ₹43 per share
Lot Size	3,000 Shares
Listing Exchange	BSE SME
IPO Open Date	12 May 2026
IPO Close Date	14 May 2026
Tentative Allotment	15 May 2026
Tentative Listing Date	19 May 2026
Market Capitalisation (Pre-IPO)	₹41.28 Crore

Goldline Pharmaceutical IPO Important Dates

Event	Date
IPO Opening Date	12 May 2026
IPO Closing Date	14 May 2026
Basis of Allotment	15 May 2026
Initiation of Refunds	18 May 2026
Credit of Shares to Demat	18 May 2026
Listing Date	19 May 2026

Goldline Pharmaceutical IPO Lot Size

Application	Lots	Shares	Amount
Individual Investors (Retail) (Min)	2	6,000	₹2,58,000
Individual Investors (Retail) (Max)	2	6,000	₹2,58,000
S-HNI (Min)	3	9,000	₹3,87,000
S-HNI (Max)	7	21,000	₹9,03,000
B-HNI (Min)	8	24,000	₹10,32,000

Goldline Pharmaceutical IPO Reservation

Investor Category	Shares Offered	% of Net Issue
QIB Portion	12,72,000	49.65%
Anchor Investor Portion	7,32,000	Included in QIB
QIB (Excluding Anchor)	5,40,000	–
NII / HNI Portion	3,90,000	15.22%
Retail Portion	9,00,000	35.13%
Market Maker Reservation	1,38,000	–
Total Issue Size	27,00,000	100%

Goldline Pharmaceutical IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	₹4.11 (Pre-IPO) / ₹3.09 (Post-IPO)
Price/Earnings (P/E) Ratio	10.47x (Pre-IPO) / 13.93x (Post-IPO)
Return on Net Worth (RoNW)	17.99%
Net Asset Value (NAV)	₹12.86 per share
Return on Equity (ROE)	21.02%
Return on Capital Employed (ROCE)	24.22%
EBITDA Margin	19.41%
PAT Margin	10.38%
Debt to Equity Ratio	1.07x

Goldline Pharmaceutical IPO Objectives

The company intends to utilise the net proceeds from the fresh issue towards repayment or prepayment of borrowings and for general corporate purposes.

Sr. No.	Objects of the Issue	Estimated Amount
1	Repayment or prepayment of certain outstanding borrowings	₹8.35 Crore
2	General Corporate Purposes	Balance Amount

Goldline Pharmaceutical Financial Information

Restated Financial Data (₹ in Crore)

Period Ended	31 Dec 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	27.40	26.28	22.93	19.39
Total Income	21.41	28.06	23.57	19.85
Profit After Tax	2.22	2.83	1.81	0.26
Reserves & Surplus	3.65	1.65	3.76	2.08
Total Borrowings	9.47	11.03	11.13	10.83

SWOT ANALYSIS

Strengths & Opportunities	Weaknesses & Threats
Experienced promoters with strong pharmaceutical industry knowledge and execution capabilities.	Asset-light model depends heavily on third-party manufacturers and suppliers.
Diverse product portfolio across multiple therapeutic and specialty segments.	Limited geographic presence may restrict broader market expansion.
Established distributor network supports efficient product reach and sales growth.	High debt levels could pressure profitability despite planned repayment.
IPO proceeds for debt reduction may strengthen financial stability.	Regulatory changes and intense industry competition may impact growth.
Scalable business model offers opportunities for future expansion.	Dependence on external partners may affect supply consistency.

IPO Strengths

• Experienced promoters and management team with strong industry expertise and a proven track record.

• Asset-light business model supported by a competitive and differentiated product portfolio.

• Scalable operating model with potential to support future business expansion.

• Wide and diversified product offerings catering to multiple therapeutic segments.

• Strong supplier and vendor relationships ensuring reliable sourcing and operational continuity.

• Established distribution network enabling effective market reach and product availability.

Peer Comparison

Company Name	EPS (Basic)	EPS (Diluted)	NAV (₹/Share)	P/E (x)	RoNW (%)
Goldline Pharmaceutical Ltd.	4.11	4.11	12.39	—	27.38
Peer Group
Mono Pharmacare Ltd.	1.75	1.75	17.66	7.57	9.90
Chandra Bhagat Pharma Ltd.	1.14	1.14	39.72	28.94	2.86