Introduction:
Amanta Healthcare Ltd is tapping the capital markets with a fresh issue worth ₹126 crore, offering 1 crore shares through the book-building route. The shares will list on BSE and NSE, with a tentative listing on 9 September 2025.
The company is a pharmaceutical player focused on sterile liquid products like IV fluids, diluents, ophthalmic solutions, and respiratory care. It also makes medical devices, with products exported to over 19 countries. The IPO gives retail investors a chance to participate in its expansion story—but it comes at a premium valuation.
History: A quick backdrop
Founded in 1994, Amanta Healthcare Ltd has grown into a manufacturer of large-volume parenterals (LVPs), small-volume parenterals (SVPs), and other formulations. It uses advanced ABFS (Aseptic Blow-Fill-Seal) and ISBM (Injection Stretch Blow Moulding) technologies at its Gujarat facility.
With a network of around 320 distributors in India and branded exports to 21 countries in FY2025, the company has built a mix of domestic and global revenue streams. As of March 2025, it employed 1,718 people, including scientists, sales professionals, and manufacturing staff.
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Objective
The company plans to use IPO proceeds mainly for capacity expansion:
| Use of proceeds | Amount (₹ in crores) |
| New SteriPort (LVP) line at Hariyala, Gujarat | 70.00 |
| New SVP line at Hariyala, Gujarat | 30.13 |
| General corporate purposes | Balance |
This signals a clear focus on growing manufacturing scale in both LVP and SVP segments, which are projected to see rising demand in India and export markets.
Current status: Subscriptions and Grey market
- IPO dates: 1–3 September 2025 (UPI cut-off 5 PM on 3rd).
- Day 1 subscription (as of ~2:40 PM): Overall 3.22x, retail 4.85x, NII 3.68x, QIB 0.00x.
- GMP (grey market premium): Around 22–23% above issue price, with trades seen near ₹154 per share.
This shows strong retail and HNI traction early on, though QIB participation will be key by the close.
Financials: Performance Over the Years
| Period ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 381.76 | 352.12 | 374.06 |
| Total income | 276.09 | 281.61 | 262.70 |
| EBITDA | 61.05 | 58.76 | 56.31 |
| PAT | 10.50 | 3.63 | -2.11 |
| Net worth | 96.39 | 66.29 | 62.88 |
| Reserves & surplus | 67.56 | 39.46 | 36.05 |
| Total borrowing | 195.00 | 205.23 | 215.66 |
Key ratios for Amanta Healthcare Ltd
| Ratio | Value |
| ROE | 12.42% |
| ROCE | 13.72% |
| Debt-equity | 2.02 |
| RoNW | 10.89% |
| PAT margin | 3.86% |
| EBITDA margin | 22.11% |
| Price-to-book | 3.77 |
| Pre-issue EPS | ₹3.64 |
| Post-issue EPS | ₹2.70 |
| Pre-issue P/E | 34.59x |
| Post-issue P/E | 46.59x |
IPO details: All you need to know
| Item | Details |
| IPO window | 1–3 Sep 2025 |
| Price band | ₹120–₹126 |
| Face value | ₹10 |
| Lot size | 119 shares |
| Retail min / max | ₹14,994 (1 lot) / ₹1,94,922 (13 lots) |
| sHNI / bHNI | ₹2,09,916 (14 lots) / ₹10,04,598 (67 lots) |
| Issue size | ₹126 crore (1 crore shares) |
| Type | Book-built IPO |
| Allotment | 4 Sep 2025 |
| Refund / demat credit | 8 Sep 2025 |
| Listing | 9 Sep 2025 |
| Lead manager | Beeline Capital Advisors |
| Registrar | MUFG Intime India Pvt. Ltd. |
| Exchange | BSE, NSE |
Shareholding pattern: pre and post issue
| metric | shares | % |
| Pre-issue shares | 2,88,29,351 | — |
| Post-issue shares | 3,88,29,351 | — |
| Promoters (pre) | — | 85.60% |
| Promoters (post) | — | 63.56% |
Anchor investors subscribed to 30 lakh shares on 29 Aug 2025, raising ₹37.8 crore, with lock-ins till October and December.
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Why should you invest in this ipo?
Advantages
- Capacity expansion: Dedicated funds for SteriPort and SVP lines.
- Profitability trend: PAT grew 189% YoY in FY2025, supported by 22% EBITDA margin.
- Diversified customer base: Largest client only ~4% of revenue, top-10 at ~28.5%.
- Global reach: Products registered in 19 countries, exports to 21 in FY2025.
- Debt trajectory: Borrowings declined over the past three years.
Disadvantages
- High valuation: Post-issue P/E of 46.6x vs peers at 16–20x.
- Thin net margins: PAT margin still only 3.86%.
- Finance costs: Historically heavy; reducing but still a drag.
- Competitive sector: Parenterals market is fragmented and price-sensitive.
- Listing risk: Grey market signals may not match official debut.
Bottomline
Amanta Healthcare Ltd is using the IPO to fund expansion in a niche pharma segment with global demand. The business has momentum, exports, and profitability improving—but the valuation is demanding. For investors, this IPO is less about chasing short-term GMP buzz and more about assessing whether amanta healthcare ltd can scale efficiently while controlling costs. A measured allocation, rather than aggressive bets, may be the smarter play.
