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Cotec Healthcare IPO
Cotec Healthcare IPO Details
The Cotec Healthcare IPO is a 100% book-built issue, comprising a fresh issue of ₹295 crore and an offer for sale (OFS) of 55 lakh equity shares, with a face value of ₹5 per share. The company filed its DRHP with SEBI on September 10, 2025.
The price band and official dates of subscription and listing will be announced by the company later, but the shares are intended to be listed on the BSE and the NSE platforms. The book-running lead manager of this issue is Pantomath Capital Advisors Private Ltd., while the registrar to the issue is KFin Technologies Ltd.
Cotec Healthcare IPO Date & Timeline
Cotec Healthcare Ltd. officially filed its Draft Red Herring Prospectus (DRHP) on September 10, 2025; however, the specific IPO date and subscription timeline remain unannounced. Following regulatory approval, the company will finalize the price band and bidding dates. Once cleared, the schedule for anchor allotment, public bidding, and the final listing on the exchange will be formally disclosed.
Cotec Healthcare IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The Cotec Healthcare IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
Company Background
Cotec Healthcare Ltd. was incorporated on December 22, 1998, with a specialized focus on pharmaceutical manufacturing. Cotec Healthcare Ltd. has steadily evolved into an established player in the contract manufacturing and development (CDMO) sector.
The company’s headquarters have remained at Roorkee, Uttarakhand, and it has consistently developed and enhanced its capabilities as a healthcare solutions provider. By investing heavily in technology and quality assurance, it has transformed from being a regional player to being a one-stop solution for pharmaceutical formulations, serving a wide range of B2B clients.
Operations & Product Range
Cotec Healthcare Ltd. operates in the pharmaceutical manufacturing industry, which is highly regulated. The company’s operations are primarily based on contract manufacturing of a wide variety of pharmaceutical formulations. The main products of the company are highly diversified, catering to different segments of the pharmaceutical industry. By maintaining high standards of hygiene, the company meets the requirements of large and mid-sized pharmaceutical marketing companies.
Facilities & Capacity
The main facility of Cotec Healthcare Ltd. is its manufacturing unit located on the Roorkee-Dehradun Highway in Bhagwanpur, Haridwar. The company has specialized technology for large-scale pharmaceutical formulation manufacturing. The facility’s favorable location in a pharma-centric region supports operational efficiency, and upgrades are ongoing to meet growing client demand.
Brands & Market Presence
Cotec Healthcare Ltd. is a Contract Manufacturing Organisation (CMO) that specializes in the B2B pharmaceuticals segment, forming a critical part of the supply chain for existing brands. With a significant presence in India, the company generates substantial business from pharmaceutical marketing companies. Approval of the Roorkee facility enhances quality focus, making the company a preferred choice in the competitive pharmaceutical segment.
Revenue Streams & Business Model
Cotec Healthcare Ltd. generates revenue primarily through large-scale contract manufacturing and sale of pharmaceutical formulations. Operating on a B2B model, the company relies on long-term manufacturing agreements and recurring orders from clients.
The business model is scalable, leveraging specialized skills to manufacture medicines marketed by other pharmaceutical companies. Revenue mainly comes from local clients, with strategic efforts underway to optimize production lines for consistent revenue generation.
Management & Shareholding
Cotec Healthcare Ltd. is driven by a committed promoter group, including Harsh Tiwari and Vandana Tiwari. Before the IPO, the promoter group held a dominant shareholding. The IPO will dilute the promoter's shareholding, but they will retain a substantial majority stake to maintain strategic direction continuity.
Board & Key Management
The strategic and operational execution of Cotec Healthcare Ltd. is managed through a well-structured Board of Directors and key management personnel. Promoters are actively involved in executive leadership to drive growth. A well-composed board ensures corporate governance and unbiased decision-making. CS Jyoti Sachdeva manages compliance and secretarial aspects.
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.
Cotec Healthcare IPO GMP
| 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.**
Cotec Healthcare IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹5 per Equity Share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Issue and Offer for Sale (OFS) |
| Total Issue Size | Up to [●] Equity Shares (Aggregating up to ₹295.00 Cr Fresh Issue + OFS portion) |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | Up to [●] Equity Shares (Aggregating up to ₹295.00 Cr) |
| Offer for Sale | Up to 6,000,000 Equity Shares |
| Net Offered to Public | - |
| Issue Type | 100% Book Built Offer |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 11,42,06,346 shares |
| Share Holding Post Issue | - |
Cotec Healthcare IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | 5:00 PM on the Bid/Offer Closing Date |
Cotec Healthcare IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | - | ~₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | - | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | - | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | - | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | - | Over ₹10,00,000 |
Cotec Healthcare IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 98.11% |
| Promoter Holding Post Issue | - |
Competitive Strength:
- • A track record of being a highly dependable contract manufacturer in the pharmaceutical industry.
- • A strategically located manufacturing facility in Roorkee provides optimised supply chain efficiencies.
- • Diverse product portfolio across various segments of therapy and advanced drug delivery systems.
- • Well-established relationships with B2B pharmaceutical industry clients.
Cotec Healthcare IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fiscal 2025 | 136.63 | 192.87 | 20.00 | 58.97 | 58.46 | 26.07 | ||||||||||||||||||||||||||||||||||
| Fiscal 2024 | 95.83 | 138.44 | 10.46 | 38.90 | 38.39 | 15.49 | ||||||||||||||||||||||||||||||||||
| Fiscal 2023 | 68.65 | 82.66 | 5.03 | 28.34 | 27.83 | 11.24 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | - |
| ROCE | 36.43% |
| Debt/Equity | 0.44x |
| RoNW | 33.91% |
| PAT Margin | 10.40% |
| EBITDA Margin | 16.36% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ₹1.75 | [.] |
| P/E (x) | [.] | [.] |
Cotec Healthcare IPO Objectives
The company plans to utilize the Cotec Healthcare IPO proceeds from the fresh issue for the following strategic objectives:
- • Funding capital expenditure for upgrading or setting up new manufacturing capabilities
- • Funding working capital requirements
- • Repayment or prepayment of debt
- • General corporate purposes
Cotec Healthcare IPO Review
Cotec Healthcare Ltd. is well-established in the high-growth pharmaceutical contract manufacturing (CDMO) sector, which benefits from the increasing growth in the domestic healthcare industry. Outsourced manufacturing remains a critical operational strategy for numerous pharmaceutical marketing firms. The Uttarakhand facility provides operational scale to tap into sector demand.
Financially, the proceeds will be used for capital expenditures, working capital, and debt repayment, reflecting management's focus on scaling operations and strengthening the balance sheet. This capital infusion enhances manufacturing capabilities, technological infrastructure, and operational capacity to meet larger client requirements.
The pharmaceutical manufacturing segment is under strict regulatory and quality scrutiny. Any lapse could result in significant client loss. The company also faces competition from other established CDMOs in India. The Cotec Healthcare IPO provides investors a targeted opportunity within the pharmaceutical supply chain, leveraging established manufacturing capabilities and growth potential.
Conclusion
Cotec Healthcare IPO offers investors a chance to invest in a growing company with a reliable B2B manufacturing model, high-quality pharmaceutical formulations, and strong client relationships. The IPO aims to fund operational expansion and working capital, with future performance reliant on successful execution of expansion plans and navigating the highly regulated pharmaceutical industry.
IPO DRHP Status
| # | Description | Date | File |
|---|---|---|---|
| 1 | Filed with SEBI/Exchange | 10-09-2025 | View DRHP |
| 2 | SEBI/Exchange approval received | - | - |
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Read More IPO ReviewsFrequently Asked Questions (FAQs)
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What are the Cotec Healthcare IPO details?
The public offering comprises a fresh issue of equity shares aggregating up to ₹295.00 crore and an Offer for Sale (OFS) of up to 55,00,000 equity shares with a face value of ₹5 each. It is a 100% book-built issue.
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What does Cotec Healthcare do?
The company is a dedicated pharmaceutical contract manufacturing and development organization (CDMO) that produces a variety of formulations, including tablets, capsules and injectables for B2B pharmaceutical clients.
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What is the Cotec Healthcare IPO date?
The exact dates for the opening and closing of the public subscription window have not been announced yet, as the issue is currently in the draft DRHP stage and awaiting final clearances.
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What is the Cotec Healthcare IPO GMP today?
The GMP represents the unofficial premium in the grey market before the listing. Since the exact issue dates and price band are not yet announced, the GMP is not available yet and will be updated when unofficial trading begins.
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What is the Cotec Healthcare IPO issue size?
The total size of the IPO includes a fresh issue of up to ₹295 crore and an offer for sale of up to 55 lakh equity shares.
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Who is the book-running lead manager of the Cotec Healthcare IPO?
Pantomath Capital Advisors Private Ltd. is the lead manager of this issue.
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Who are the promoters of Cotec Healthcare?
The promoters are Harsh Tiwari and Vandana Tiwari.
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Where will the Cotec Healthcare IPO be listed?
The equity shares are meant to be issued on the BSE and the NSE platforms.
