Accretion Pharmaceuticals IPO opens today
Company raises ₹2.13 crore from Anchor investors
- Prominent anchor investors Pink Oak Global Fund and Vikasa India EIF I Fund – Incube Global Opportunities participated in the anchor book subscription
- Company raises ₹2.13 crore from the sale of 2,11,200 equity shares with a face value of ₹10/- priced at ₹101/- per share
- Accretion Pharmaceuticals intends to utilise ₹2.69 crore of the total IPO proceeds towards capital expenditure for purchasing new equipment/machinery, ₹4.65 crore towards capital expenditure to upgrade existing manufacturing plant, ₹99.17 Lakh towards repayment/prepayment of certain borrowings availed by the company, ₹14.68 crore for funding working capital requirements and the remaining capital will be used for general corporate purposes
- Issue opens today, May 14, 2025, and closes on Friday, May 16, 2025
May 14, 2025: Accretion Pharmaceuticals Limited, an Ahmedabad-headquartered pharmaceuticals manufacturer, has successfully completed its Anchor book subscription, raising ₹2.13 crore through the sale of 2,11,200 Lakh equity shares priced at ₹101/- each.
Marquee investors Pink Oak Global Fund and Vikasa India EIF I Fund – Incube Global Opportunities subscribed 50% each of the anchor book.
The Ahmedabad-headquartered company’s IPO begins today, May 14, and will conclude on Friday, May 16, 2025. Accretion Pharmaceuticals Limited is looking to raise approximately ₹29.75 crore from the offering.
The company intends to utilise ₹2.69 crore of the total IPO proceeds towards capital expenditure for purchasing new equipment/machinery, ₹4.65 crore towards capital expenditure to upgrade existing manufacturing plant, ₹99.17 Lakh towards repayment/prepayment of certain borrowings availed by the company, ₹14.68 crore for funding working capital requirements and the remaining capital will be used for general corporate purposes.
The price band of the issue is ₹96-101/- per equity share with a face value of ₹10/- apiece. The company’s IPO comprises a fresh issue of 29.46 Lakh Equity Shares with a face value of ₹10/- through the book-building route. Jawa Capital Services Private Limited is the Book Running Lead Manager, Socradamus Capital Private Limited is the Underwriter to the Issue and Kfin Technologies Limited is the Registrar to the Issue.
