Vijaypd Ceutical Ltd IPOVIJAYPD

The IPO opens on 29 Sept 2025 & closes on 01 Oct 2025.

VijayPD Ceutical Limited is engaged in the business of distributor and supplier of the pharmaceutical products and consumer goods sectors, offering a comprehensive range of services. It provide a wide range of products, serving both the pharmaceutical and wellness industries, as well as the fast moving consumer goods (FMCG) market, including pharmaceutical and wellness products such as medicines, including injections, tablets, capsules, ointments, suppositories, ophthalmic preparations, and liquid oral products; vitamins, hormones, enzymes, and wellness tonics; serums and diagnostic test kits, and fast-moving consumer goods, such as personal care and toiletries like soaps, sanitizers, and baby care items; ayurvedic product; cosmetics and food products and additionally, provide dental products, crude drugs. VijayPD Ceutical Limited was originally formed as a partnership firm under the name of 'M/s. Vijay Pharma' pursuant to a Deed of Partnership dated October 05, 1971. Further, M/s. Vijay Pharma was converted into a Public Limited Company as 'VijayPD Ceutical Limited' and a fresh Certificate of Incorporation dated March 19, 2024, was issued by Assistant Registrar of Companies, Central Registration Centre. Further, Company has acquired the running business of M/s. P.D. Doshi, a Partnership firm as a going concern vide Business Transfer Agreement dated April 1, 2024 entered by and between M/s. P.D. Doshi, Partnership firm and the Company. A pharmaceutical supply chain consists of various stages, ranging from manufacturing to distribution and the delivery of medicines and vaccines to consumers. This supply chain encompasses several processes such as drug distribution, inventory management, pharmaceutical logistics, and overall supply chain management. In addition to these processes, it involves multiple entities, including manufacturers, suppliers, distributors, logistics partners, shippers and pharmaceutical retailers. The Company as a distributor of pharmaceutical products, is known to deliver comprehensive healthcare solutions to pharmacies, nursing homes, and clinics across Western Suburban Mumbai, South Mumbai, Ratnagiri and Akola. It operate 3 distribution warehouses located across Mumbai, ensuring timely and efficient deliveries. Further, Company manage the timely and safe distribution of medications to pharmacies, nursing homes, clinics, and other healthcare providers, supported by efficient inventory management systems that prevent shortages. Logistics and supply chain management include coordinating the transportation of products under controlled conditions and providing secure, temperature-controlled warehousing for sensitive items. They handle all aspects of order fulfilment, from processing and packaging to delivery of product. The Company came up with the IPO by allotting a fresh issue of 55,00,000 equity shares of Rs 10 each, by raising Rs 19.25 Cr in Oct'25.

Vijaypd Ceutical Ltd IPO will close on 01 Oct 2025.

<ul><li>Strengthen our market position by increasing the long-term relationship with the clients.</li><li>Comprehensive product portfolio.</li><li>Streamlined supply chain management.</li><li>Experienced management team with proven execution capabilities.</li></ul>

<table class="table"> <thead> <tr> <th>S.No</th> <th>Promoters Name</th> <th>Pre Issue Shares</th> <th>Pre Issue Percentage</th> <th>Post Issue Shares</th> <th>Post Issue Percentage</th> </tr> </thead> <tbody> <tr> <td>1</td> <td>Samit Madhukar Shah</td> <td>882872</td> <td>6.29</td> <td>882872</td> <td>4.52</td> </tr> <tr> <td>2</td> <td>Bhavin Dhirendra Shah</td> <td>1636094</td> <td>11.66</td> <td>1636094</td> <td>8.38</td> </tr> <tr> <td>3</td> <td>Rahul Jitendra Shah</td> <td>---</td> <td>---</td> <td>---</td> <td>---</td> </tr> <tr> <td>4</td> <td>Narendra Nagindas Shah</td> <td>1590610</td> <td>11.34</td> <td>1590610</td> <td>8.14</td> </tr> <tr> <td>5</td> <td>Dina Madhukar Shah</td> <td>1678706</td> <td>11.97</td> <td>1678706</td> <td>8.6</td> </tr> <tr> <td>6</td> <td>Vasanti Dhirendra Shah</td> <td>3216644</td> <td>22.93</td> <td>3216644</td> <td>16.47</td> </tr> <tr> <td>7</td> <td>Hemanti Jitendra Shah</td> <td>1061846</td> <td>7.57</td> <td>1061846</td> <td>5.44</td> </tr> <tr> <td>8</td> <td>Jigar Narendra Shah</td> <td>484000</td> <td>3.45</td> <td>484000</td> <td>2.48</td> </tr> <tr> <td>9</td> <td>Kusum Jitendra Shah</td> <td>234000</td> <td>1.67</td> <td>234000</td> <td>1.2</td> </tr> <tr> <td>10</td> <td>Nila Narendra Shah</td> <td>91914</td> <td>0.66</td> <td>91914</td> <td>0.47</td> </tr> <tr> <td>11</td> <td>Chandrika Dilipkumar Shah</td> <td>69000</td> <td>0.49</td> <td>69000</td> <td>0.35</td> </tr> <tr> <td>12</td> <td>Saroj Narendra Shah</td> <td>39000</td> <td>0.28</td> <td>39000</td> <td>0.2</td> </tr> </tbody> </table>

<ul><li>Our company is positioning itself to expand its market presence by diversifying into the manufacturing of Active Pharmaceutical Ingredients ("APIs"), which serve as raw materials for the formulation of various types of Finished Dosage Forms ("FDF") and Excipients. However, this expansion may expose us to several risks that could adversely affect our growth, prospects, cash flows, business operations, and financial condition.</li><li>We may incur losses, and our reputation may be adversely affected if customers return our products due to the distribution of expired, unsafe, defective, ineffective, or counterfeit products, as well as product spoilage, breakage, or damage during transportation or storage. Failure to comply with customer-prescribed quality standards may also result in loss of business. In addition, we may be subject to product liability claims.</li><li>We derive a significant portion of our revenue from customers located in Maharashtra. Any adverse developments in the region could adversely affect our business, results of operations, cash flows and financial condition.</li><li>Our Company is reliant on the demand from the pharmaceutical industry for a significant portion of our revenue. Any downturn in the pharmaceutical industry or an inability to increase or effectively manage our sales could have an adverse impact on our Company's business and results of operations.</li><li>Since our inception, we have completed one of the acquisitions of distributors in India to expand our business and increase our customer base and may continue to complete more acquisitions in the future. However, we may be unable to realize the anticipated benefits of past or future acquisitions successfully. Further, if we are unable to identify expansion opportunities or experience delays or other problems in implementing our strategy of inorganic growth, our business, financial condition, results of operations, cash flows and prospects may be adversely affected.</li><li>We procure a significant portion of our raw materials from suppliers based in the State of Maharashtra. Any adverse developments in the region could adversely affect our business, results of operations, cash flows and financial condition.</li><li>We do not have long term agreements with our customers, which could adversely impact our business as our customers can terminate their relationships with us without notice.</li><li>We do not have long-term agreements with manufacturer of pharmaceutical products and an increase in the cost of, or a shortfall in the availability or quality of such pharmaceutical products could have an adverse effect on our business, financial condition and results of operations</li><li>We have experienced negative cash flows from operating activities in the past and may continue to experience negative cash flows in the future, which could adversely affect our business operations and financial condition.</li><li>We have not yet placed orders in relation to the funding Capital Expenditure towards purchase of plant and machinery which is proposed to be financed from the Issue proceeds of the IPO. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the Plant and Machinery in a timely manner, or at all, may result in time and cost over-runs and our business, prospects and results of operations may be adversely affected. Our proposed Manufacturing Facility are subject to the risk of unanticipated delays in implementation due to factors including delays in construction, obtaining regulatory approvals in timely manner and cost overruns.</li><li>Any disruption to the operation of our warehouses, or to the development of new warehousing and logistics facilities, could have an adverse effect on our business, financial condition and results of operations.</li><li>We may be unable to manage our growth if we are not able to efficiently operate, maintain or expand our supply chain and distribution infrastructure. Further, we may not be able to implement our business strategies, which may adversely affect our business and prospects.</li><li>We have certain outstanding litigation against us, an adverse outcome of which may adversely affect our business, reputation and results of operations.</li><li>Changes in prescription drug pricing could adversely affect our operations and financial performance.</li><li>We conduct our business in a highly-regulated industry and environment. Our business is dependent on approvals from relevant regulatory and health authorities. Any delay or failure to obtain or renew such required regulatory approvals, registrations or any change in the regulatory environment in relation to marketing our products in regulated markets may significantly impact our business and strategy affecting our overall profitability and may impose significant compliance burdens on us.</li><li>We are dependent on third-party transportation for the delivery of our products, and the absence of long-term agreements with such service providers, along with any disruption in their operations or decline in service quality, could adversely affect our reputation and results of operations.</li><li>Improper Handling, Processing, or Storage of Raw Materials or Products, or Any Contamination, Could Result in Regulatory Action, Reputational Harm, and Financial Losses.</li><li>Our business may be adversely affected by adverse news, scandals or other incidents associated with the Indian pharmaceutical industry.</li><li>Conflicts of interest may arise out of common business objects between our Company and Promoter Group Entities.</li><li>Some of our Directors and Promoters have interests ours Group Companies engaged in businesses similar to us.</li><li>We are subject to credit risk with respect to trade receivables.</li><li>We might be adversely impacted by competition and industry consolidation.</li><li>We are subject to risks associated with expansion into new markets.</li><li>We have contingent liabilities, and our financial condition could be adversely affected if any of these contingent liabilities materializes.</li><li>Failure to maintain optimal inventory levels could increase our operating costs or lead to unfulfilled customer orders, either of which could have an adverse effect on our business, financial condition, results of operations and prospects.</li><li>Our Company requires significant amounts of working capital for a continued growth. Our inability to meet our working capital requirements may have an adverse effect on our results of operations.</li><li>Within the parameters as mentioned in the chapter titled "Objects of the Issue" beginning on page 88 of this Prospectus, our Company's management will have flexibility in applying the proceeds of the Issue. The fund requirement and deployment mentioned in the Objects of this Issue have not been appraised by any bank or financial institution.</li><li>Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.</li><li>Non-compliance with existing or changes to environmental, health and safety, labor laws and other applicable regulations by us or contract manufacturers for our private label products may adversely affect our business, financial condition, results of operations and cash flows.</li><li>We are exposed to the risks of malfunctions, disruptions, or gaps in our information technology and reporting systems.</li><li>Certain of our Group companies have incurred losses in the past years.</li><li>We are dependent on the continued services and performance of our key managerial personnel, senior management and other key employees, the loss of any of whom could adversely affect our business, operating results and financial condition.</li><li>A majority of the Directors on our Board do not have prior experience serving as directors of companies listed on recognized stock exchanges. Additionally, some of our Promoters lack experience in the pharmaceutical industry. As a result, they may be able to provide only limited guidance regarding the affairs of our Company after its listing."</li><li>A change in population demographics could have an adverse effect on our business, operations, financial condition and results of operations.</li><li>Our Company logo "Vijaypdceutical Ltd. Connection Healthcare, Delivering Hope " " is not registered with Registrar of Trademark; any infringement of our brand name or failure to get it registered may adversely affect our business. Further, any kind of negative publicity or misuse of our brand name could hamper our brand building efforts and our future growth strategy could be adversely affected.</li><li>Disruption or other changes in capital and credit markets might impede access to credit and increase borrowing costs for us and our customers and suppliers.</li><li>In case of our inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate our business it may have a material adverse effect on our business.</li><li>We might be adversely impacted by changes or disruptions in product supply, which may lead to a loss of customers.</li><li>We are subject to operational and logistical risks and our insurance coverage may not be adequate to protect us against all potential losses to which we may be subject.</li><li>We cannot assure you that we will be able to secure adequate financing in the future on acceptable terms. Our failure to obtain sufficient financing could result in delay or abandonment of our business plans and this may have an adverse effect on our growth and operations.</li><li>An inability to comply with repayment and other covenants in the financing agreements or otherwise meet our debt servicing obligations could adversely affect our business, financial condition, cash flows and credit rating.</li><li>Excessive dependence on HDFC Bank in respect of Loan facilities obtained by our Company.</li><li>Any increase in interest rates would have an adverse effect on our results of operations and will expose our Company to interest rate risks.</li><li>If we are unable to source business opportunities effectively, we may not achieve our financial objectives.</li><li>Certain sections of this Prospectus disclose information from the D&B Report which has been commissioned and paid for by us exclusively in connection with the Issue and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.</li><li>We have, in the past, entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.</li><li>Our Promoters, Directors, Key Management Personnel and Senior Management may have interests other than the reimbursement of expenses incurred and receipt of remuneration or benefits from our Company.</li><li>We have, in the last 12 months, issued Equity Shares at a price that could be lower than the Issue Price.</li><li>Our Promoters and Promoter Group will continue to retain significant control in our Company after the Issue which will allow them to influence the outcome of matters submitted to shareholders for approval. Such a concentration of ownership may also have the effect of delaying, preventing or deterring a change in control.</li><li>Our ability to pay dividends will depend upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and other factors.</li><li>Our employees may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements.</li><li>Significant differences exist between Indian GAAP and other accounting principles, such as U.S. GAAP and IFRS, which investors may be more familiar with and may consider material to their assessment of our financial condition.</li><li>If we are unable to establish and maintain an effective internal controls and compliance system, our business and reputation could be adversely affected.</li><li>An investment in the Equity Shares is subject to general risk related to investments in Indian Companies.</li><li>Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.</li><li>QIB and Non-Institutional Investors are not permitted to withdraw or lower their application (in terms of quantity of Equity Shares or the Application Amount) at any stage after submitting a Application.</li></ul>

The Issue type of Vijaypd Ceutical Ltd is Fixed Price - SME.

The minimum application for shares of Vijaypd Ceutical Ltd is 8000.

The total shares issue of Vijaypd Ceutical Ltd is 5500000.

Initial public offer of 55,00,000 equity shares of face value of Rs. 10/- each (the "Equity Shares") of Vijaypd Ceutical Limited ("the Company" or "Vijaypd" or "the Issuer") for cash at a price of Rs.35/- per equity share including a share premium of Rs.25/- per equity share (the "Issue Price") aggregating to Rs.19.25 crores ("the Issue"), of which 2,84,000 equity shares of face value of Rs. 10/- each for cash at a price of Rs. 35/- per equity share including a share premium of Rs. 25/- per equity share aggregating to Rs. 0.99 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e., net issue of 52,16,000 equity shares of face value of Rs. 10/- each at a price of Rs. 35/- per equity share including a share premium of Rs. 25/- per equity share aggregating to Rs. 18.26 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 28.16% and 26.71% respectively of the post issue paid up equity share capital of the company. Price Band: Rs. 35/- for equity share of face value of Rs. 10 each. The floor price is 3.50 times times the face value times of the face value of the equity shares. Bids can made for a minimum of 8,000 equity shares and in multiples of 4,000 equity shares thereafter.