Mayasheel Ventures Limited IPO...
20 Jun, 2025
Aakaar Medical Technologies Limited IPO
Aakaar Medical Technologies Limited is launching its IPO with a fresh issue of ₹27 crore, offering 37,52,000 equity shares at a price band of ₹68 to ₹72 per share. The IPO is opening on June 20, 2025 with a closing on June 24, 2025. Retail investors will require a minimum investment of ₹1,15,200 to purchase the lot size of 1,600 shares. Shares will be listed on NSE on June 27, 2025.
Company Background
Founded in 2013 by Dilip Ramesh Meswani, Aakaar Medical Technologies Limited specializes in medical aesthetics, focusing on cosmetic products and devices. The company operates primarily in the B2B segment, supplying its offerings to dermatologists, plastic surgeons, and aesthetic physicians across India. Over the years, Aakaar has established a robust presence in the professional skincare, injectables, hair care, and aesthetic devices market.
Operations & Product Range
Facility & Production:
Aakaar Medical Technologies does not own manufacturing facilities but develops its brands through third-party or licensed manufacturing arrangements. The company partners with Parekh Integrated Services Pvt. Ltd. (PISPL) for logistics, utilizing 21 warehousing centers across India for distribution.
Brands & Market Presence:
The product portfolio includes both proprietary brands (domestically manufactured or sourced) and premium imported brands from countries such as South Korea, Spain, Italy, and Austria. The company has offered 154 SKUs and sold over 5.4 lakh units in FY 2024-25. The company has a customer base of more than 5,200 dermatologists and clinic chains across 15 Indian states.
Revenue Channels
Aakaar operates two main revenue channels:
- Imported Brands: Distribution of international aesthetic products and devices, contributing about 62–70% of revenue in recent years.
- Own Brands: Domestically produced products, either under white labeling or loan licensing, accounting for 30–38% of revenue.
- The company’s revenues have grown significantly, from ₹32.78 crore in FY23 to ₹61.58 crore in FY25.
Management & Shareholding
Promoters:
Dilip Ramesh Meswani and Bindi Dilip Meswani are the Promoters of the company and they are holding 91.11% shares in the company before the IPO.
Board Members:
The company is led by Dilip Meswani, who brings over 25 years of experience in the aesthetics industry.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Aakaar Medical Technologies Limited IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Aakaar Medical Technologies Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | June 20, 2025 to June 24, 2025 |
| Listing Date | - |
| Face Value | ₹10 per share |
| Issue Price Band | ₹68 to ₹72 per share |
| Lot Size | 1,600 Shares |
| Total Issue Size (Ex Market Maker) | 37,50,400 shares (aggregating up to ₹27.00 Cr) |
| Fresh Issue (Ex Market Maker) | 37,50,400 shares (aggregating up to ₹27.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,04,22,416 shares |
| Share Holding Post Issue | 1,41,72,816 shares |
| Market Maker Portion | 1,88,800 shares |
Aakaar Medical Technologies Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Fri, Jun 20, 2025 |
| IPO Close Date | Tue, Jun 24, 2025 |
| Tentative Allotment | Wed, Jun 25, 2025 |
| Initiation of Refunds | Thu, Jun 26, 2025 |
| Credit of Shares to Demat | Thu, Jun 26, 2025 |
| Tentative Listing Date | Fri, Jun 27, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 24, 2025 |
Aakaar Medical Technologies Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹1,15,200 |
| Retail (Max) | 1 | 1600 | ₹1,15,200 |
| HNI (Min) | 2 | 3200 | ₹2,30,400 |
Aakaar Medical Technologies Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 91.11% | - |
Competitive Strength:
- ● Experienced Leadership
- ● Diversified Product Portfolio
- ● Pan-India Distribution
- ● Strong Financial Growth
- ● Large and Growing Customer Base
Aakaar Medical Technologies Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 51.85 | 61.76 | 6.04 | 23.2 | 22.74 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 34.01 | 46.27 | 3 | 12.53 | 15.06 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 23.23 | 32.88 | 2.15 | 9.66 | 5.87 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 21.02% |
| Debt/Equity | 0.98 |
| RoNW | 33.81% |
| PAT Margin | 9.81% |
| EBITDA Margin | 15.81% |
| Price to Book Value | 5.23 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.79 | 4.26 |
| P/E (x) | 12.43 | 16.9 |
IPO Objectives
The primary objective of the IPO is to raise fresh capital to fund working capital requirements, with 75% of the proceeds earmarked for this purpose. The remainder will be used for general corporate purposes.
Conclusion
Aakaar Medical Technologies Limited has established itself as a key player in the Indian medical aesthetics market, with a strong B2B focus, diversified product offerings, and robust distribution capabilities. The IPO aims to support the company's next phase of growth by strengthening its working capital base. Investors may find the company’s consistent financial performance, experienced leadership, and expanding market presence attractive, though risks such as reliance on imported brands and geographic concentration should be considered.
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Frequently asked Questions (FAQs )
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1. What are the IPO dates for Aakaar Medical Technologies Limited?
The IPO is opening on June 20, 2025 with a closing date of June 24, 2025.
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2. What is the price band and lot size of IPO?
The price band is ₹68 to ₹72 per share with a minimum lot size of 1,600 shares.
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3. What is the total issue size?
The IPO will raise ₹27 crore through a fresh issue of 37,52,000 equity shares.
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4. Where will the shares be listed?
Shares are expected to be listed on the NSE on June 27, 2025.
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5. Who are the promoters of the company?
The promoters are Dilip Ramesh Meswani and Bindi Dilip Meswani.
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6. What are the main objectives of the IPO?
The primary objective is to fund working capital requirements and for general corporate purposes.
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7. What is the company’s main business?
Aakaar Medical Technologies specializes in medical aesthetics, offering both proprietary and imported cosmetic products and devices to doctors and clinics.
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8. How has the company performed financially in recent years?
Revenue grew from ₹32.78 crore in FY23 to ₹61.58 crore in FY25, with a RoE of 26.03% in FY25.
