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Remus Pharmaceuticals IPO GMP, Price, Dates & Allotment Details 2023

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:

  1. To meet working capital requirements
  2. Funding investments for acquisitions and general corporate purposes
  3. To meet public issue expenses

Financial Highlights (Restated Consolidated)

ParticularsThe period ended on 31st Dec. 2022FY 2021-22FY 2020-21FY 2019-20
Net Worth1,712643305202
Total Assets3,3531,5911,105530
Total Borrowings947192836
Total Revenue3,3612,5441,9221,277
Profit After Tax64433910381
(Amount in ₹ Lakhs)

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 TypeBook built issue IPO
IPO Price₹ 1,150 to ₹ 1,229 per share
Face Value₹ 10 per share
Market Lot100 shares
Issue Size388,000 shares (aggregating up to ₹ 47.69 crores)
Fresh Issue388,000 shares (aggregating up to ₹ 47.69 crores)
QIB Shares OfferedNot more than 50% of the net issue
NII (HNI) Shares OfferedNot less than 15% of the net issue
Retail Shares OfferedNot less than 35.00% of the net issue
Market MakerSunflower Broking 
Market maker portion19,500 shares
Listing AtNSE SME
Company PromotersMr 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 DateMay 17, 2023
Closing DateMay 19, 2023
Basis of AllotmentMay 24, 2023
Initiation of RefundsMay 25, 2023
A credit of shares to Demat A/cMay 26, 2023
Listing DateMay 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.

ApplicationsLotsSharesAmount 
Retail (Minimum)1100₹ 122,900
Retail (Maximum)1100₹ 122,900
HNI (Minimum)2200₹ 245,800

Promoters Holdings 

Pre-issue Shares Holdings92.82%
Post-issue Shares Holdings

SWOT Analysis

STRENGTHSWEAKNESSES
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.
OPPORTUNITIESTHREATS
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 InformationRemus 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: [email protected]
Website: http://www.remuspharma.com/
IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/
IPO Lead Manager(s)Beeline Capital Advisors Pvt Ltd

FAQ’s

The Remus Pharmaceuticals IPO price is ₹ 1,150 to ₹ 1,229  per share.

The minimum investment size is one lot for retail investors. One lot of the Remus Pharmaceuticals IPO contains 100 shares of ₹ 122,900.

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.

The Remus Pharmaceuticals IPO shares listing date is May 29, 2023.

The investors’ portion for QIB is 50% of the Net Issue, NII (HNI) is 15% of the net issue, and Retail is 35%.

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