Aptus Pharma Ltd IPO
Status: Closed
Overview
IPO date
23 Sept 2025 to 25 Sept 2025
Face value
₹ 10 per share
Price
₹ 65 to ₹70 per share
Issue Size
1,860,000 shares
(aggregating up to ₹ 13.02 Cr)
(aggregating up to ₹ 13.02 Cr)
Allotment Date
26 Sept 2025
Listing at
NSE
Issue type
Book Building - SME
Sector
Pharmaceuticals
Objectives of Aptus Pharma Ltd IPO
Aptus Pharma Ltd IPO Strategy
About Aptus Pharma Ltd
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T&C*
Strengths vs Risks of Aptus Pharma Ltd
Know the pros & cons
Strengths
Diversified Product Portfolio.- Robust and Responsive Distribution Network.
- Strategic Manufacturing Partnerships.
- Commitment to High-Quality Standards.
- Competitive and Cost-Effective Pricing.
- Skilled and Committed Human Resources.
- Experienced and Visionary Management Team.
- Customer Satisfaction and Retention.
Risks
- The company does not have its own manufacturing facility for pharmaceutical products and the company have to relies on third parties for contract manufacturing of the products sold by the Company.
- The company are required to obtain, renew or maintain certain material statutory and regulatory permits and approvals required to operate its business, and if the company fail to does so in a timely manner or at all, its may be unable to operate the company business and its results of operations may be adversely affected.
- The company derive a significant part of the company revenue from few customers. If one or more of such customers choose not to source their requirements from the company or to terminate its contracts or purchase orders, the company business, cash flows, financial condition and results of operations may be adversely affected.
- If the company are unable to protect its intellectual property rights, the company business, results of operations and financial condition may be adversely affected. Further, if its products were found to be infringing on the intellectual property rights of a third-party, the company could be required to cease selling the infringing products, causing the company to lose future sales revenue from such products and face substantial liabilities for infringement of intellectual property rights.
- The Company may be exposed to product liability and other claims arising from defective medicines manufactured by third-party Contract Manufacturers, despite having manufacturing agreements in place, as indemnity terms are not pre-determined.
- The company are highly dependent on the medical practitioners including general physicians, paediatricians, gynaecologists, cardiologists, endocrinologists, neurologists, and others. Any disruption in such understanding may adversely impact its business operations.
- The company business is working capital intensive. If its are unable to borrow to meet the company working capital requirements, it may materially and adversely affect its business and results of operations.
- The company have had negative cash flows from operating activities in the last three Fiscal years and may continue to have negative cash flows in the future which could have an impact on its business and operations.
- The Company does not have intellectual property rights over its corporate logo. In absence of the company Registered Logo or Trademark there are chances of getting damage to its business prospects, reputation and goodwill and misuse of the company logo.
- There have been certain delays in filing of GST, PF/ESIC returns of the company. Consequently, its may be subject to adverse regulatory actions and penalties for any past or future non-compliance and the company business, financial condition and reputation may be adversely affected.
- The company success depends on its ability to develop and commercialize new products in a timely manner. If its development efforts does not succeed or the products its commercialize does not perform as expected, this may hinder the introduction of new products, and could adversely affect the company business, financial condition and results of operations.
- The company may have experienced delays in filing certain statutory forms with the Registrar of Companies (RoC), which could have resulted in additional fees. As a result, its may be subject to regulatory actions or penalties for past or future non-compliance, which could adversely impact the company business operations, financial condition, and reputation.
- The company insurance coverage may not adequately protect its against all material hazards, which may adversely affect the company business, results of operations and financial condition.
- Non-issuance of NOC's from Unsecured Lenders for the proposed IPO of the Company considering absence of restrictive covenants pertaining to Unsecured Loans from these Unsecured Lenders.
- The company warehousing facilities are concentrated in one state only and any adverse developments affecting this region could have an adverse effect on its business, results of operations and financial condition.
- The company Registered Office Premises Is Not Owned by Us and Is Taken on Rent; Any Disruption or Non-Renewal May Adversely Impact its Operations.
- The company Does Not Own Any Immovable Property and Relies on Leased Premises; Any Disruption in Lease Arrangements May Adversely Affect its Operations and Financial Performance.
- The Company is dependent on third party transportation providers for the delivery of its products. Accordingly, continuing increases in transportation costs or unavailability of transportation services for the company products, as well the extent and reliability of Indian infrastructure may have an adverse effect on its Company's reputation, business, financial condition, results of operations and prospects.
- A significant portion of the company revenues are derived from a few geographical regions and any adverse developments affecting such regions could have an adverse effect on its business, cash flows, results of operation and financial condition.
- The company Promoters have issued personal guarantees in relation to debt facilities availed by its, which if revoked, may require alternative guarantees, repayment of amounts due or termination of the facilities.
- The company sales and profitability could be harmed if its are unable to maintain or improve the company brand image. Further any negative publicity with respect to its products could adversely affect the company brand, business, financial condition and results of operations.
- The Company has entered into related party transactions in the past and may continue to enter into related party transactions in the future, which may potentially involve conflicts of interest with the equity shareholders.
- Failures to effectively manage the company inventory may adversely affect its sales, profitability, cash flows, and overall business operations.
- The company are dependent on its Promoters for functioning of the company business and its believe that the company senior management team and other key managerial personnel in its business are critical to the company continued success and its may be unable to attract and retain such personnel in the future.
- The company depends on skilled personnel and if the company is unable to recruit and retain skilled personnel, the company's ability to operate or grow its business could be affected.
- The company's funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency and its management will have broad discretion over the use of Net Proceeds.
- The company's Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- The company's Promoters, some of its Directors, some of the company's KMPs and SMPs are interested in the Company, in addition to regular remuneration or benefits and reimbursement of expenses.
- The company has incurred indebtedness, and an inability to comply with repayment and other covenants in the company's financing agreements could adversely affect its business and financial condition.
- The Company and its Promoters are involved in litigation proceedings that may have a material adverse outcome.
- The average cost of acquisition of Equity Shares by its Promoters is lower than the Issue Price.
Our
- The company has availed unsecured loans from its erstwhile director and their relatives, which are repayable on demand. Any demand for repayment may adversely impact the company's liquidity and business operations.
- The company may require further equity issuance, which will lead to dilution of equity and may affect the market price of its Equity Shares or additional funds through incurring debt to satisfy the company's capital needs, which the company may not be able to procure and any future equity offerings by it.
- Fraud, theft, employee negligence or similar incidents may adversely affect the company's results of operations and financial condition.
- The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
- The company's ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
- Certain data mentioned in this Red Herring Prospectus has not been independently verified.
- Certain statutory approvals and certificates are yet to be updated pursuant to the company's conversion into a public limited company.
- Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by the company's major shareholders may adversely affect the trading price of our Equity Shares.
- There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the BSE SME Platform in a timely manner or at all.
- The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
Aptus Pharma Ltd Peer Comparison
Understand the company’s industry standing
Aptus Pharma Limite
Zota health care limited
Sunrest Lifescience Limited
Face Value
10
10
10
Standalone / Consolidated
Standalone
Standalone
standalone
Total Income Rs. Cr.
24.5577
166.585
29.48
EPS-Basis
6.37
1.32
0.68
EPS-Diluted
---
---
---
NAV Per Share
13.93
47.11
33.06
P/E-Basic EPS
---
746.70
73.53
P/E-Diluted EPS
---
---
---
RONW(%)
44.5
2.78
1.59
Latest NAV Period
---
---
---
Latest NAV
---
---
---
How to check the allotment status of Aptus Pharma Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
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The IPO opens on 23 Sept 2025 & closes on 25 Sept 2025.
Aptus Pharma Limited was originally incorporated as 'Aptus Pharma Private Limited', as a private limited company with the Registrar of Companies, Gujarat, pursuant to a Certificate of Incorporation dated August 12, 2010. Subsequently, Company was converted into a public limited retaining the name as 'Aptus Pharma Limited' and a fresh certificate of incorporation dated December 12, 2024 was issued by the Registrar of Companies, Central Processing Centre.
Company is engaged in the business of marketing, and distribution of finished pharmaceutical formulations. While the Company does not own any manufacturing facilities, it operates through a contract manufacturing model with 7 units. under various arrangements. It provide a diverse range of pharmaceutical products catering to various therapeutic categories including anti-infectives, gastrointestinal, antacids, anti-allergic and respiratory, nutritional supplements, pain management, neuro-psychiatric, cardiovascular, antidiabetic, lipid-lowering, and general wellness products. These are offered across a variety of dosage forms, such as tablets, capsules, softgels, syrups, suspensions, injections, ointments, creams, balms, drops, lotions, vials, powders, gels, and sachets.
The Company started business through 4 regional headquarters in Gujarat in 2011. It launched a portfolio of nearly 25 products targeting essential therapeutic divisions in 2013. It expanded the operations to over 50 products, catering to both acute and chronic segments in 2015. This resulted the increase in portfolio to 70 products in 2019 and to over 100 in 2022. The Company enhanced the production to over 175 products in 2024. It established 3 operational divisions: Acute, Chronic, and OTC in 2024.
Company is planning the Initial Public Issue of 20,00,000 equity shares of face value of Rs 10 each through fresh issue.
Aptus Pharma Ltd IPO will close on 25 Sept 2025.
- Diversified Product Portfolio.
- Robust and Responsive Distribution Network.
- Strategic Manufacturing Partnerships.
- Commitment to High-Quality Standards.
- Competitive and Cost-Effective Pricing.
- Skilled and Committed Human Resources.
- Experienced and Visionary Management Team.
- Customer Satisfaction and Retention.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Tejash Maheshchandra Hathi | 775000 | 15.5 | 775000 | 11.3 |
| 2 | Chatrabhuj Vallabhbhai butani | 225000 | 4.5 | 225000 | 3.28 |
| 3 | Kapilbhai Hasmukhbhai Chandara | 775000 | 15.5 | 775000 | 11.3 |
| 4 | Ghanshyam Vinubhai Pansuriya | 350000 | 7 | 350000 | 5.1 |
| 5 | Milly Chetan Lalseta | 575000 | 11.5 | 575000 | 8.38 |
| 6 | Riddhish Natwarlal Tanna | 575000 | 11.5 | 575000 | 8.38 |
| 7 | Gaurang Rameshchandra Thakker | 575000 | 11.5 | 575000 | 8.38 |
| 8 | Kripaliben Mayank Thakker | 575000 | 11.5 | 575000 | 8.38 |
| 9 | Kunjal Piyushbhai Unadkat | 575000 | 11.5 | 575000 | 8.38 |
- The company does not have its own manufacturing facility for pharmaceutical products and the company have to relies on third parties for contract manufacturing of the products sold by the Company.
- The company are required to obtain, renew or maintain certain material statutory and regulatory permits and approvals required to operate its business, and if the company fail to does so in a timely manner or at all, its may be unable to operate the company business and its results of operations may be adversely affected.
- The company derive a significant part of the company revenue from few customers. If one or more of such customers choose not to source their requirements from the company or to terminate its contracts or purchase orders, the company business, cash flows, financial condition and results of operations may be adversely affected.
- If the company are unable to protect its intellectual property rights, the company business, results of operations and financial condition may be adversely affected. Further, if its products were found to be infringing on the intellectual property rights of a third-party, the company could be required to cease selling the infringing products, causing the company to lose future sales revenue from such products and face substantial liabilities for infringement of intellectual property rights.
- The Company may be exposed to product liability and other claims arising from defective medicines manufactured by third-party Contract Manufacturers, despite having manufacturing agreements in place, as indemnity terms are not pre-determined.
- The company are highly dependent on the medical practitioners including general physicians, paediatricians, gynaecologists, cardiologists, endocrinologists, neurologists, and others. Any disruption in such understanding may adversely impact its business operations.
- The company business is working capital intensive. If its are unable to borrow to meet the company working capital requirements, it may materially and adversely affect its business and results of operations.
- The company have had negative cash flows from operating activities in the last three Fiscal years and may continue to have negative cash flows in the future which could have an impact on its business and operations.
- The Company does not have intellectual property rights over its corporate logo. In absence of the company Registered Logo or Trademark there are chances of getting damage to its business prospects, reputation and goodwill and misuse of the company logo.
- There have been certain delays in filing of GST, PF/ESIC returns of the company. Consequently, its may be subject to adverse regulatory actions and penalties for any past or future non-compliance and the company business, financial condition and reputation may be adversely affected.
- The company success depends on its ability to develop and commercialize new products in a timely manner. If its development efforts does not succeed or the products its commercialize does not perform as expected, this may hinder the introduction of new products, and could adversely affect the company business, financial condition and results of operations.
- The company may have experienced delays in filing certain statutory forms with the Registrar of Companies (RoC), which could have resulted in additional fees. As a result, its may be subject to regulatory actions or penalties for past or future non-compliance, which could adversely impact the company business operations, financial condition, and reputation.
- The company insurance coverage may not adequately protect its against all material hazards, which may adversely affect the company business, results of operations and financial condition.
- Non-issuance of NOC's from Unsecured Lenders for the proposed IPO of the Company considering absence of restrictive covenants pertaining to Unsecured Loans from these Unsecured Lenders.
- The company warehousing facilities are concentrated in one state only and any adverse developments affecting this region could have an adverse effect on its business, results of operations and financial condition.
- The company Registered Office Premises Is Not Owned by Us and Is Taken on Rent; Any Disruption or Non-Renewal May Adversely Impact its Operations.
- The company Does Not Own Any Immovable Property and Relies on Leased Premises; Any Disruption in Lease Arrangements May Adversely Affect its Operations and Financial Performance.
- The Company is dependent on third party transportation providers for the delivery of its products. Accordingly, continuing increases in transportation costs or unavailability of transportation services for the company products, as well the extent and reliability of Indian infrastructure may have an adverse effect on its Company's reputation, business, financial condition, results of operations and prospects.
- A significant portion of the company revenues are derived from a few geographical regions and any adverse developments affecting such regions could have an adverse effect on its business, cash flows, results of operation and financial condition.
- The company Promoters have issued personal guarantees in relation to debt facilities availed by its, which if revoked, may require alternative guarantees, repayment of amounts due or termination of the facilities.
- The company sales and profitability could be harmed if its are unable to maintain or improve the company brand image. Further any negative publicity with respect to its products could adversely affect the company brand, business, financial condition and results of operations.
- The Company has entered into related party transactions in the past and may continue to enter into related party transactions in the future, which may potentially involve conflicts of interest with the equity shareholders.
- Failures to effectively manage the company inventory may adversely affect its sales, profitability, cash flows, and overall business operations.
- The company are dependent on its Promoters for functioning of the company business and its believe that the company senior management team and other key managerial personnel in its business are critical to the company continued success and its may be unable to attract and retain such personnel in the future.
- The company depends on skilled personnel and if the company is unable to recruit and retain skilled personnel, the company's ability to operate or grow its business could be affected.
- The company's funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency and its management will have broad discretion over the use of Net Proceeds.
- The company's Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- The company's Promoters, some of its Directors, some of the company's KMPs and SMPs are interested in the Company, in addition to regular remuneration or benefits and reimbursement of expenses.
- The company has incurred indebtedness, and an inability to comply with repayment and other covenants in the company's financing agreements could adversely affect its business and financial condition.
- The Company and its Promoters are involved in litigation proceedings that may have a material adverse outcome.
- The average cost of acquisition of Equity Shares by its Promoters is lower than the Issue Price. Our
- The company has availed unsecured loans from its erstwhile director and their relatives, which are repayable on demand. Any demand for repayment may adversely impact the company's liquidity and business operations.
- The company may require further equity issuance, which will lead to dilution of equity and may affect the market price of its Equity Shares or additional funds through incurring debt to satisfy the company's capital needs, which the company may not be able to procure and any future equity offerings by it.
- Fraud, theft, employee negligence or similar incidents may adversely affect the company's results of operations and financial condition.
- The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
- The company's ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
- Certain data mentioned in this Red Herring Prospectus has not been independently verified.
- Certain statutory approvals and certificates are yet to be updated pursuant to the company's conversion into a public limited company.
- Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by the company's major shareholders may adversely affect the trading price of our Equity Shares.
- There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the BSE SME Platform in a timely manner or at all.
- The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
The Issue type of Aptus Pharma Ltd is Book Building - SME.
The minimum application for shares of Aptus Pharma Ltd is 4000.
The total shares issue of Aptus Pharma Ltd is 1860000.
Initial public issue of up to 18,60,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of Aptus Pharma Limited (the "Company" or "Aptus" or "Issuer") at an issue price of Rs. 70 per equity share (Including a share premium of Rs.60 per equity share) for cash, aggregating up to Rs. 13.02 crores ("Public Issue") out of which 94,000 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 70 per equity share for cash, aggregating Rs.0.66 crores will be reserved for subscription by the market maker to the issue (the "Market Maker Reservation Portion"). The public issue less market maker reservation portion i.e. issue of 17,66,000 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 70 per equity share for cash, aggregating up to Rs.12.36 crores is hereinafter referred to as the "Net Issue". The public issue and net issue will constitute 27.11 % and 25.74 % respectively of the post-issue paid-up equity share capital of the company.
Price Band: Rs. 70/- for equity share of face value of Rs. 10 each.
The floor price is 14.00 times times the face value of the face value of the equity shares.
Bids can made for a minimum of 4,000 equity shares and in multiples of 2,000 equity shares thereafter.