Remus Pharmaceuticals IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Remus Pharmaceuticals IPO will open on May 17 and close on May 19, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 47.69 crores through this public offering, consisting of 3.88 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 1,150 to ₹ 1,229 per share.
Remus Pharmaceuticals Limited (“the Company”)
Incorporated in 2015. The company is engaged in the marketing & distribution of finished formulations of pharmaceutical drugs. This also deals in API (Active Pharmaceutical Ingredient). The company also provide technical consultancy services to various distributors for the preparation of reports on the dossiers of the products to be registered by them in various countries.
The company have a large distribution network and client base spread over 20 countries.
Its product portfolio consists of 429 products, as on January 31, 2023. They operate under different brand names across the globe. As on January 31, 2023, the company have 295 products registered in a total of 13 countries. As on January 31, 2023, a total of 134 products are under the process of registration in 16 countries, which shall boost the growth of the company.
As on January 31, 2023, they have business-to-business supply agreements with 58 domestic distributors and 139 international distributors for distribution and/or contract manufacturing supply.
Company Core business can be divided into the following categories:
- Manufacturing, through loan licence or on a contract manufacturing basis, of approved finished formulations and distribution of the same in various countries.
- Trading of Active Pharmaceutical Ingredients
- Technical Consultancy on the preparation of reports on pharmaceutical dossiers.
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- To meet working capital requirements
- Funding investments for acquisitions and general corporate purposes
- To meet public issue expenses
Financial Highlights (Restated Consolidated)
| Particulars | The period ended on 31st Dec. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 1,712 | 643 | 305 | 202 |
| Total Assets | 3,353 | 1,591 | 1,105 | 530 |
| Total Borrowings | 947 | 19 | 28 | 36 |
| Total Revenue | 3,361 | 2,544 | 1,922 | 1,277 |
| Profit After Tax | 644 | 339 | 103 | 81 |
IPO details
As per the DRHP filed with SEBI, 3.88 lakhs shares will be offered as part of the fresh issue on the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 19,500 shares of the offering. While Beeline Capital Advisors Pvt Ltd will be the lead manager for the IPO, Link Intime India Private Ltd will be the registrar. It will be a book-built issue, so there will be a price band rather than a price point, and the actual issue price will be discovered by building the book.
| Issue Type | Book built issue IPO |
| IPO Price | ₹ 1,150 to ₹ 1,229 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 100 shares |
| Issue Size | 388,000 shares (aggregating up to ₹ 47.69 crores) |
| Fresh Issue | 388,000 shares (aggregating up to ₹ 47.69 crores) |
| QIB Shares Offered | Not more than 50% of the net issue |
| NII (HNI) Shares Offered | Not less than 15% of the net issue |
| Retail Shares Offered | Not less than 35.00% of the net issue |
| Market Maker | Sunflower Broking |
| Market maker portion | 19,500 shares |
| Listing At | NSE SME |
| Company Promoters | Mr Arpit Deepakkumar Shah, Ms Roma Vinodbhai Shah, Mr Swapnil Jatinbhai Shah, and Mrs Anar Swapnil Shah |
GMP: Remus Pharmaceuticals IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Remus Pharmaceuticals IPO
The issue opens for subscription on May 17, 2023, and closes for subscription on May 19, 2023 (both days inclusive). The basis of allotment will be finalised on May 24th, 2023, and the refunds will be initiated on May 25, 2023. In addition, the demat credits are expected to happen on May 26th, 2023, and the stock will list on May 29, 2023, on the NSE SME. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | May 17, 2023 |
| Closing Date | May 19, 2023 |
| Basis of Allotment | May 24, 2023 |
| Initiation of Refunds | May 25, 2023 |
| A credit of shares to Demat A/c | May 26, 2023 |
| Listing Date | May 29, 2023 |
Lot Size
The lot size of the Remus Pharmaceuticals IPO is 100 shares. A retail-individual investor can apply for up to 1 lot, i.e. 100 shares of ₹ 122,900.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 100 | ₹ 122,900 |
| Retail (Maximum) | 1 | 100 | ₹ 122,900 |
| HNI (Minimum) | 2 | 200 | ₹ 245,800 |
Promoters Holdings
| Pre-issue Shares Holdings | 92.82% |
| Post-issue Shares Holdings | – |
SWOT Analysis
| STRENGTHS | WEAKNESSES |
|---|---|
| 1. A good relationship with established distributors. 2. Wide range of registered products. 3. Wide range of products under registration. | 1. Dependency on manufacturers and distributors. 2. Lack of brand awareness. 3. Lack of firm arrangement of finance. |
| OPPORTUNITIES | THREATS |
| 1. Expanding new geographical markets. 2. Opportunities for digital sales through owned websites. 3. Wide range of products under registration. | 1. Fluctuation in raw material prices. 2. Competitions from organised and unorganised players. 3. Change in government policies. |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Remus Pharmaceuticals Limited 1101 to 1103, South Tower, One 42, B/H Ashok Vatika, Nr. Jayantilal Park BRTS, Ambli Bopal Road, Ahmedabad – 380054 Phone: +079- 2999 9857 Email: cs@remuspharma.com Website: http://www.remuspharma.com/ |
| IPO Registrar | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: remuspharmaceuticals.ipo@linkintime.co.in Website: https://linkintime.co.in/ |
| IPO Lead Manager(s) | Beeline Capital Advisors Pvt Ltd |
FAQ’s
What is Remus Pharmaceuticals’ IPO price?
The Remus Pharmaceuticals IPO price is ₹ 1,150 to ₹ 1,229 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Remus Pharmaceuticals IPO contains 100 shares of ₹ 122,900.
When will Remus Pharmaceuticals IPO allotment be available?
The finalisation of the basis of allotment for the Remus Pharmaceuticals IPO will be done on May 24, 2023, and the allotted shares will be credited to your demat account by May 26, 2023. Check the Remus Pharmaceuticals IPO allotment status.
When will Remus Pharmaceuticals IPO list on exchanges?
The Remus Pharmaceuticals IPO shares listing date is May 29, 2023.
How many Remus Pharmaceuticals IPO Offer shares are reserved for HNIs and retail investors?
The investors’ portion for QIB is 50% of the Net Issue, NII (HNI) is 15% of the net issue, and Retail is 35%.
