The Speciality Medicines IPO aims to raise ₹29 crore from the market. It will issue 23,50,000 shares with a nominal value of ₹10. The offering amounts to. The issue is for bidding on March 20, 2026. Applications have to be submitted by the closure of the subscription window on March 24, 2026. The allotment is planned to be carried out on March 25, 2026. The shares will make their debut on March 30, 2026, on the BSE SME.
The price band of this offering ranges from ₹117 to ₹124, and each lot has 1,000 shares. For retail investors, the participation starts at 2 lots (2,000 shares), amounting to ₹2,48,000. The sNII investors need to bid for at least 3 lots (3,000 shares), making their outlay ₹3,72,000. The bNII participants must bid ₹11,16,000 for 9 lots (9,000 shares).
Speciality Medicines IPO Details
Presented below is the essential information regarding this issue:
| Particulars | Details |
| IPO Opens | March 20 2026 |
| IPO Closes | March 24, 2026 |
| Face Value | ₹10 per share |
| Issue Type | Bookbuilding |
| Issue Price | – |
| Price Band | ₹117 to ₹124 |
| Lot Size | 1,000 Shares |
| Listing at | BSE SME |
| Fresh Issue | 23,50,000 shares (₹29 Crore) |
| Offer for Sale(OFS) | – |
| Total Issue | 23,50,000 shares (₹29 Crore) |
| Minimum Investment | ₹2,48,000 |
Speciality Medicines IPO Timeline
The IPO is set to run as per the timeline below:
| Particulars | Details |
| IPO Opens | March 20, 2026 |
| IPO Closes | March 24, 2026 |
| Tentative Allotment | March 25, 2026 |
| Initiation of Refunds | March 27, 2026 |
| Demat Credit of Shares | March 27, 2026 |
| Listing Scheduled | March 30, 2026 |
| UPI mandate cut-off | March 24, 2026 (5:00 PM) |
Speciality Medicines Key Performance Indicators
The Speciality Medicines’ key performance indicators (KPIs) are provided below:
| KPIs | FY23 | FY24 | FY25 |
| ROE (%) | 42.69 | 27.95 | 37.96 |
| ROCE (%) | 50.22 | 36.90 | 33.47 |
| Debt Equity (times) | 0.61 | 0.19 | 0.17 |
| RoNW (%) | 28.60 | 19.47 | 28.42 |
| PAT Margin (%) | 7.32 | 10.66 | 14.77 |
| EBITDA margin (%) | 15.44 | 19.11 | 15.60 |
| Price Book Value | – | – | – |
Speciality Medicines Financials
An overview of Speciality Medicines’ financial standing is as follows:
| Particulars (in ₹ lakh) | 2023 | 2024 | 2025 |
| Total Assets | 1,326.39 | 2,268.18 | 3,998.07 |
| Revenue | 2,319.90 | 2,765.72 | 5,853.96 |
| Profit | 169.61 | 293.36 | 860.82 |
Subscription Status of the Speciality Medicines IPO
Subscription figures are not available at this stage, as the Speciality Medicines IPO has not commenced. Details will be updated when the issue opens on March 20, 2026.
Applications can be submitted from 10:00 AM to 5:00 PM during the bidding window.
Speciality Medicines IPO GMP
The Speciality Medicines IPO is trading with a ₹0 premium in the grey market, showing muted interest from the investors. The premium value has remained unchanged for the last three days. Currently, GMP levels signal no gains, and the IPO is to list at ₹124 (the upper price band).
| Date | GMP | Estimated Listing Price | Estimated Listing Gain | Last Updated |
| 10-03-2026 | ₹0 | ₹124 | 0.00% | 17-Mar-2026 13:35 |
Note: The GMP is based on unofficial trading activity. It is indicative in nature and should not be taken as an investment suggestion or advice.
Speciality Medicines IPO Reservation
The table below highlights the share allocation across investor classes:
| Investor Category | Reservation |
| QIB Shares | Maximum 2% of the issue |
| NII (HNI) Shares | Minimum 49% of the issue |
| Retail Shares | Minimum 49% of the issue |
| Total Shares | 100% |
Speciality Medicines IPO Lot Size
Bidding must be done in line with the specified lot size requirements:
| Investor Type | Lots | Shares | Amount |
| Individual Investors (Minimum) | 2 | 2,000 | ₹2,48,000 |
| Individual Investors (Maximum) | 2 | 2,000 | ₹2,48,000 |
| S-HNI (Minimum) | 3 | 3,000 | ₹3,72,000 |
| S-HNI (Maximum) | 8 | 8,000 | ₹9,92,000 |
| B-HNI (Minimum) | 9 | 9,000 | ₹11,16,000 |
Speciality Medicines IPO Anchor Investors
Since there is no anchor investor participation in the Speciality Medicines IPO, information related to anchor bidding, allocation, and lock-in periods is not applicable.
Speciality Medicines IPO Prospectus
You may review the following documents for additional details on the offering:
| Draft Red Herring Prospectus (DRHP) | |
| Red Herring Prospectus (RHP) | |
| Anchor Investors | Not Applicable |
| Final Prospectus | Not Disclosed Yet |
About Speciality Medicines
Parthkumar Goyani and Sumit founded Speciality Medicines in 2021. The former leads the organisation as the Managing Director. The company operates in the specialty pharma segment, catering to patients with complex health issues. Its range of offerings is spread across multiple segments like cancer care, immune-related conditions, neurological disorders, and rare disease therapies. The business follows a dual model – contract manufacturing and distribution in international markets, along with sourcing and distributing speciality medicines from third-party manufacturers.
The company has built a strong presence across India and global markets, serving healthcare providers through an efficient supply chain. With a focus on quality, compliance, and expanding reach, the company aims to strengthen its position and compete against peers such as Trident Lifeline and Mono Pharmacare in the speciality pharma segment.
| Lead Manager | Skyline Financial Services |
| Issue Registrar | Unistone Capital |
Objectives of the Speciality Medicines IPO
Capital raised via this offering is proposed to be used for the following purposes:
| S. No. | Particulars | Amount (in ₹ lakh) |
| 1. | Setup of R&D Center | 1,267.64 |
| 2. | Product Registration and Development | 299.25 |
| 3. | Marketing and Promotion Activities | 165.61 |
| 4. | Working Capital Needs | 800.00 |
| 5. | General Corporate Uses | – |
Strengths of Speciality Medicines
Listed below are the core factors that support Speciality Medicines’ business:
- Global Presence: The company’s operations extend beyond India into multiple international regions. This global reach reduces reliance on any particular region and helps in expanding to new and emerging markets.
- Product Diversification: A wide portfolio across therapeutic segments and dosage forms enables it to cater to varied healthcare needs. This balanced mix supports consistent demand across different market sectors and conditions.
- Strong Client Relations: The company maintains healthy relationships by providing high quality service and timely fulfilment. This leads to repetition of orders and stable revenue.
- Experienced Leadership: Promoters and management bring industry experience and strategic direction. Their expertise supports business expansion, operations, and new growth opportunities.
Risks of Speciality Medicines
Considering the key risks associated with Speciality Medicines is crucial before investing:
- Dependence on Suppliers: The company relies on external vendors for raw materials without any long-term contracts in place. Any disruption, price fluctuation, or supplier exit may negatively impact the operations.
- Lack of Established R&D Capabilities: It does not have a fully operational R&D unit currently. Delays in building capabilities or hiring skilled personnel can hinder innovation and delay the launch of new products.
- Working Capital Constraints: The business needs high working capital to run. Failure to meet these requirements may lead to delays in payments, supply disruptions, and ultimately affect the financial stability.
- Exposure to International Risks: Significant export revenue means the company faces regulatory, currency, and geopolitical risks. These uncertainties may affect profitability and operational continuity.
Speciality Medicines IPO Review
The Speciality Medicines IPO presents a mixed outlook. The company shows strong growth and improving margins, supported by global presence and product diversification. But it still faces challenges related to supplier dependence, working capital needs, and international trading pressures.
With muted GMP signals, investors may consider a cautious approach before subscribing.
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Speciality Medicines IPO FAQs
Speciality Medicines IPO is a book-built SME issue worth ₹29 crore. It is an entirely fresh issue of 23,50,000 shares and will be listed on the BSE SME platform.
You can apply through your bank’s ASBA facility or via stock brokers using UPI. Applications must be submitted when the subscription window is active.
The IPO shows growth potential with improving financials, but risks like supplier dependence and working capital needs exist. It may suit investors with a cautious, long-term perspective.
Current GMP indicates muted sentiment with no expected listing gains. Returns remain uncertain and depend on subscription demand and market conditions at the time of listing.
The IPO will open for subscription on March 20, 2026, and close on March 24, 2026.
The minimum lot size is 1,000 shares. Retail investors must apply for at least 2 lots (2,000 shares), requiring an investment of around ₹2,48,000.
The Speciality Medicines IPO allotment will be finalised on March 25, 2026.
The shares are tentatively scheduled to list on March 30, 2026, on the BSE SME platform.
