Amanta Healthcare IPO Analysis
The Amanta Healthcare IPO is set to open for subscription on September 1, 2025, and close on September 3, 2025, with a price band of ₹120–₹126 per share. The Ahmedabad-based pharmaceutical company aims to raise ₹126 crore through a 100% fresh issue, with shares set to list on both BSE and NSE.
Known for its sterile liquid pharmaceutical products, IV fluids, and medical devices, Amanta has built a strong domestic presence with 320 distributors and exports to 21 countries. While the company reported flat revenues in FY25, profitability improved sharply, with PAT rising 189% YoY to ₹10.50 crore due to cost optimizations and margin improvements.
At the upper price band, Amanta Healthcare’s valuation looks stretched at 46.6x P/E, making it more suitable for aggressive investors targeting listing gains or medium-term growth. However, risks such as high debt levels, single-location dependency, and muted revenue growth remain important to track.
IPO Details
- IPO Open Date: September 1, 2025
- IPO Close Date: September 3, 2025
- Allotment Date: September 4, 2025
- Listing Date: September 9, 2025
- Price Band: ₹120 – ₹126 per share
- Lot Size: 119 shares
- Issue Size: Fresh issue of 1 crore shares, aggregating up to ₹126 crore
- Listing Exchange: BSE, NSE
👉 The issue is 100% fresh equity, with no Offer-for-Sale (OFS), which highlights the company’s focus on raising funds purely for expansion and growth.
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Company Overview
Amanta Healthcare Ltd., incorporated in 1994, is a leading player in the sterile liquid pharmaceuticals space. The company specializes in:
- Parenteral solutions
- IV fluids
- Ophthalmics & respiratory care products
- Medical devices
Amanta operates with advanced Aseptic Blow-Fill-Seal (ABFS) and Injection Stretch Blow Moulding (ISBM) technologies, ensuring high-quality production standards.
The company distributes products in India through a network of 320 distributors and exports to 21 countries, making it a well-diversified player with a strong international presence.
Financial Performance (₹ in Crore)
| Financials | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | 281.23 | 280.48 | 274.71 |
| EBITDA | 47.85 | 53.21 | 61.05 |
| PAT | 3.63 | 3.63 | 10.50 |
| RoE (%) | 5.42 | 6.18 | 12.42 |
| RoCE (%) | 7.14 | 8.60 | 13.72 |
| Debt-to-Equity | 2.54 | 2.31 | 2.02 |
Despite flat revenue growth, the company delivered 189% YoY PAT growth in FY25, driven by cost efficiencies and better margins.
Key Ratios & Valuation
- RoE: 12.42%
- RoCE: 13.72%
- Debt-to-Equity: 2.02 (improved from 2.54 in FY23)
- P/E (Pre-IPO): 34.60x
- P/E (Post-IPO): 46.60x
- Capacity Utilization: ~96%
Valuations are considered on the higher side, making this IPO more suitable for aggressive investors.
Strengths
- Diversified product portfolio across fluids, ophthalmics, respiratory care & devices.
- Strong distribution with 320 domestic distributors and exports to 21 countries.
- Technology leadership with advanced BFS & ISBM processes.
- Consistent capacity utilization (~96%) ensures operational efficiency.
- Experienced promoters with strong industry credibility.
Risks
- High leverage: Debt-to-equity still elevated at 2.02.
- Single-location dependency: All manufacturing concentrated in Hariyala, Gujarat.
- Flat revenue growth in recent years despite margin expansion.
- Regulatory risks: Healthcare sector is highly sensitive to approvals & compliance.
- Raw material price volatility could impact margins.
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IPO Objectives
Funds raised will be directed towards:
- ₹70 crore for a new SteriPort line (civil construction + equipment)
- ₹30.13 crore for a Small Volume Parenterals (SVP) line
- Remaining funds for corporate needs and growth initiatives
This shows a clear focus on capacity expansion to meet demand in domestic and export markets.
Grey Market Premium (GMP)
As of August 26–29, 2025, the IPO is trading with a GMP of ₹22–₹25, indicating potential 17–19% listing gains.
Peer Comparison
| Company | Revenue (₹ Cr) | PAT (₹ Cr) | RoE (%) | P/E (x) |
|---|---|---|---|---|
| Amanta Healthcare | 274.71 | 10.50 | 12.42 | 46.60 |
| Gufic Biosciences | 820+ | 55+ | 18.20 | 32.10 |
| Claris Lifesciences* | 1,200+ | 130+ | 19.50 | 28.40 |
(*Data indicative for comparison)
Compared to peers, Amanta trades at higher valuations despite lower revenue and profitability, which makes the IPO relatively expensive.
Verdict
The Amanta Healthcare IPO offers exposure to a specialized pharma company with a solid distribution network and strong export presence. The business is improving margins and profitability, but muted revenue growth and high leverage remain concerns.
- Aggressive investors may consider applying for listing gains and medium-term growth potential.
- Conservative investors should wait for more clarity on revenue scaling and debt reduction.
FAQs (Frequently Asked Questions)
Q1. What are the IPO dates for Amanta Healthcare?
The IPO will open on September 1, 2025, and close on September 3, 2025. Allotment is expected on September 4, and listing on September 9, 2025, on NSE and BSE.
Q2. What is the price band and lot size of Amanta Healthcare IPO?
The price band is set at ₹120 – ₹126 per share, and the lot size is 119 shares.
Q3. How much is Amanta Healthcare looking to raise through this IPO?
The company plans to raise ₹126 crore via a fresh issue of 1 crore equity shares. There is no Offer for Sale (OFS) component.
Q4. What will Amanta Healthcare use the IPO proceeds for?
Funds will be used for:
- Expansion of manufacturing facilities (SteriPort line and SVP line)
- Working capital requirements
- General corporate purposes
Q5. What is the Grey Market Premium (GMP) for Amanta Healthcare IPO?
As of August 26–29, 2025, the GMP is around ₹22–₹25, indicating a 17–19% expected listing gain.
Q6. Is Amanta Healthcare IPO a good investment?
The IPO offers growth potential in the healthcare sector, but valuations are slightly high. It may suit aggressive investors looking for listing gains and medium-term returns, while conservative investors should be cautious.
Disclaimer : This article is for informational purposes only and should not be considered as investment advice. Please consult your financial advisor before making investment decisions.
