Medico Remedies Limited is engaged in manufacturing and selling of pharmaceutical formulation products in India. It is a WHO-GMP and ISO-9001:2008 certified company. Medico Remedies IPO will be open soon to hit the BSE SME exchange. This post will present the Medico Remedies Limited IPO Review and will analyze the draft red herring prospectus to find the issue date, issue price and other issue details.
About Medico Remedies Limited IPO :
- IPO Opens on – January 29,2018.
- IPO Closes on – January 31,2018.
- Face Value – Rs 10 Per Equity Share.
- Issue Price – Rs 100 Per Equity Share.
- Issue Type – Fixed Price Issue IPO.
- Offer for sale – 150,000 Equity Shares of Rs 10 aggregating up to Rs 1.5 cr.
- Fresh issue – 949,200 Equity Shares of Rs 10 aggregating up to 9.49 cr.
- Retail Allocation – 50%
- Market Lot – 1200 shares.
- Minimum Order Quantity – 1200 shares.
- Issue Size – 1,099,200 Equity Shares of Rs 10 aggregating up to Rs 10.99 Cr.
- Listing Exchange – BSE SME Exchange.
- Draft Prospectus – Download.
Objectives of the issue:
- Repayment of loans.
- Funding expenditure for general corporate purposes.
About The Company –
- Medico Remedies Limited is Incorporated in 1994.
- This company offers pharmaceutical formulation manufacturing company with manufacturing and marketing capabilities in formulation with focus on anti-infective, Beta-Lactums, cephalosporins, antimalarial, antiretroviral, anti-ulcer drugs and antacids, vitamins, haematinics and other supplements.
- Medico Remedies Limited serves wholesalers or traders of formulation products.
- This company also exports its products to Uganda, Myanmar, Vietnam, Cambodia, Dominican Republic, Sri Lanka, Philippines, Turkmenistan, Ghana, Mauritius, Madagascar, Congo, Iraq, Honduras, Cuba, Jamaica, Hong Kong, Nigeria, Senegal, Panama, Mozambique etc.
- Medico Remedies Limited has built a strong relationship with its customers for drug formulations, with its long standing operations and quality products.
- In the year 1994 the begging of the company is operations with manufacturing and servicing of diuretics, anti-malarials, NSAIDS tablets, anti-reterovirals, anti-ulcer drugs and anti-acids tablets.
Promoters of the company :
- Haresh Mehta, aged 62 years, is the Chairman, Chief Financial Officer and Promoter of this company.
- Harshit Mehta, aged 32 years, is the Managing Director and also the Promoter of this company.
- Rita Mehta, aged 56 years, is the Whole-time Director and also the Promoter of this company.
Medico Remedies Limited IPO Review: The company financials reveal that the company has managed to increase their profitability year on year steadily. The main advantage for the investors will be the steady profit graph. The only drawback is the high price of Rs. 100 per equity share, which seems on the higher side. Instead of the high issue price our Medico Remedies Limited IPO Review is NEUTRAL on this new issue. We still feel that long-term investors can apply in this IPO.