About Goldline Pharmaceutical IPO
Goldline Pharmaceutical IPO Details
Goldline Pharmaceutical IPO is a 100% book-built issue of ₹11.61 crore, entirely a fresh issue of 0.27 crore equity shares, with a face value of ₹10 per share. The company filed its DRHP with SBEI on September 30, 2025.
The price band is set at ₹41 to ₹43 per share and the lot size for an application is 3,000 shares. The minimum amount of investment required by an individual investor (retail investor) is ₹2,58,000. The IPO will open for subscription from May 12 to 14, 2026, on the BSE SME platform, with a tentative listing date fixed as May 19, 2026. The book-running lead manager to the issue is Cumulative Capital Private Ltd., while the registrar to the issue is Bigshare Services Private Ltd.
Goldline Pharmaceutical IPO Date & Timeline
The Goldline Pharmaceutical IPO is officially set to open for subscription on May 12, 2026 and will close on May 14, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on September 30, 2025 and has now finalised its schedule following SEBI approval. Once the subscription window allotment is expected on May 15, 2026. Following this, the company will initiate refunds and credit shares to successful investors' demat accounts on May 18, 2026. Finally, Goldline Pharmaceutical Ltd.'s shares are tentatively scheduled to list on the stock exchanges on May 19, 2026.
Goldline Pharmaceutical IPO Timeline
| IPO Open Date | Tue, May 12, 2026 |
| IPO Close Date | Thu, May 14, 2026 |
| Tentative Allotment | Fri, May 15, 2026 |
| Initiation of Refunds | Mon, May 18, 2026 |
| Credit of Shares to Demat | Mon, May 18, 2026 |
| Tentative Listing Date | Tue, May 19, 2026 |
| Cut-off time for UPI mandate confirmation | - |
Goldline Pharmaceutical IPO Details
| Detail | Description |
|---|---|
| IPO Date | 12 to 14 May, 2026 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Issue Price Band | ₹ 41 to ₹ 43 |
| Lot Size | 3,000 Shares |
| IPO Type | Fresh capital only |
| Total Issue Size | 27,00,000 shares (agg. up to ₹ 12 Cr) |
| Reserved for Market Maker | 1,38,000 shares (agg. up to ₹ 0.5934 Cr) |
| Fresh Issue(Ex Market Maker) | 25,62,000 shares (agg. up to ₹ 11 Cr) |
| Net Offered to Public | 25,62,000 shares (agg. up to ₹ 11 Cr |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 69,00,000 shares |
| Share Holding Post Issue | 96,00,000 shares |
Goldline Pharmaceutical 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 Goldline Pharmaceutical IPO GMP is currently trading at ₹15, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹58, which is 34.88% 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.
IPO Estimated Listing Return
Based on the IPO Price of ₹43 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹0 and a lot size of 3000 shares.
Goldline Pharmaceutical IPO GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | ₹43.00 | ₹0 | - |
| - | ₹43.00 | ₹8 | - |
| - | ₹43.00 | ₹15 | - |
| - | ₹43.00 | ₹16 | - |
| - | ₹43.00 | ₹17 | - |
| - | ₹43.00 | ₹18 | - |
| - | ₹43.00 | ₹25 | - |
| - | ₹43.00 | ₹15 | - |
| - | ₹43.00 | ₹20 | - |
| - | ₹43.00 | ₹20 | - |
| - | ₹43.00 | ₹20 | - |
| - | ₹43.00 | ₹15 | - |
| - | ₹43.00 | ₹15 | - |
Company Background
Goldline Pharmaceutical Ltd. was incorporated on August 2, 2004, as a private limited company under the name 'Goldline Pharmaceutical Private Limited' in Mumbai. Over the years, the company transitioned its corporate structure, becoming a public limited company in July 2013 and subsequently moving its registered office to Nagpur, Maharashtra.
The company has focused on the pharmaceutical sector, evolving its operations to specialise in the marketing and distribution of medicinal products rather than direct manufacturing. Goldline doesn't work as a manufacturer here; they do contractual agreements with 3rd-party manufacturers, who perform the manufacturing process on the basis of Goldline’s research and market analysis.
Operations & Product Range
The corporate structure of Goldline Pharmaceutical Ltd. engages in marketing and material sourcing activities. This firm manufactures a broad spectrum of products from different therapeutic lines such as antibiotics, analgesics and dietary supplements. Some of its prominent registered trademarks include AMCLUE, AZITHREE, CABGOLD and CHYMOGOLD. It serves as an intermediary in this process, whereby it collaborates with manufacturers in ensuring that all the products are up to par in terms of quality.
Facilities & Capacity
The Goldline Pharmaceutical Ltd. follows a lean business model that makes use of minimal assets for operations. The firm does not manufacture any of its branded products since it is dependent upon third-party contractors who manufacture its pharmaceuticals according to the company’s market analysis. Its efforts have been focused on marketing its brand name and managing its logistics and supply chain management activities. Its operations are run from Nagpur, where its headquarters and registered office are situated.
Brands & Market Presence
Goldline Pharmaceutical Ltd. has established a recognizable presence in the domestic market through its suite of registered pharmaceutical brands. By focusing on therapeutic areas with consistent demand, Goldline has built a distribution network that caters to various healthcare providers. Its market presence is primarily domestic and it operates under its brand "Goldline Pharmaceutical Limited"; also, its associated logo is central to its market identity, with several key product names having secured long-term trademark registrations.
Revenue Streams & Business Model
The primary revenue source for Goldline Pharmaceutical Ltd. is the sale of pharmaceutical products. For FY25, the revenue from operations was ₹28.05 crore and the net profit for the year was at ₹2.83 crore. The business model is centred on identifying market needs, coordinating production with contract partners and leveraging an established distribution network to fulfil orders from wholesalers and doctors.
Management & Shareholding
Goldline Pharmaceutical Ltd. is led by its promoters, Amol Laxmikant Mujumdar and Swapan Premprakash Khandelwal. Before the IPO, the promoters held the 79.70% stake, but after the IPO, the promoters' shareholding will be diluted, not by stakeholding, as there is no OFS in the offering.
Board & Key Management
The leadership of Goldline Pharmaceutical Ltd. is led by a team of experts with many years of experience. Amol Laxmikant Mujumdar serves as the Chairman & Managing Director and gives strategic direction to the firm and the daily operations, along with Whole-Time Director Swapan Premprakash Khandelwal. To ensure good governance, the board includes independent directors Mehul Hari Ranade and Renuka Saurabh Borole for honest oversight. Together, this team uses its knowledge to help the company grow and stay successful.
Goldline Pharmaceutical IPO Financial Information
Latest Revenue
₹ 28.06 Cr
Profit After Tax
₹ 2.83 Cr
Net Worth
₹ 10.35 Cr
Total Borrowing
₹ 11.03 Cr
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31 Mar 2025 | 26.28 | 28.06 | 2.83 | 10.35 | 1.65 | 11.03 |
| 31 Mar 2024 | 22.93 | 23.57 | 1.81 | 7.87 | 3.76 | 11.13 |
| 31 Mar 2023 | 19.39 | 19.85 | 0.26 | 5.89 | 2.08 | 10.83 |
| Amount in ₹ Crore | ||||||
Goldline Pharmaceutical Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 21.02% |
| ROCE | 24.22% |
| Debt/Equity | 1.07 |
| RoNW | 17.99% |
| PAT Margin | 10.38% |
| EBITDA Margin | 19.41% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.11 | 3.09 |
| P/E (x) | 10.47 | 13.93 |
Goldline Pharmaceutical IPO Objectives
The company intended to utilise the Goldline Pharmaceutical IPO proceeds for strategic purposes:
- • Debt repayment/prepayment
- • General corporate purposes
Goldline Pharmaceutical IPO Review
Goldline Pharmaceutical Ltd. occupies a specific niche in the Indian pharma landscape by operating an asset-light marketing model. By outsourcing manufacturing, the company minimises the heavy capital risks associated with factory operations, focusing instead on brand building and distribution. This strategy has allowed the firm to scale its revenue steadily, reaching over ₹28.05 crore for the FY25.
Financially, the company has shown a positive growth trajectory. Profit After Tax (PAT) grew significantly from ₹25.66 Lakhs in FY 2023 to ₹283.42 Lakhs in FY 2025. However, investors should note that the company relies heavily on third-party manufacturers, which is a key risk factor mentioned in the DRHP. Any disruption in these supply relationships could impact product availability and revenue.
However, the company faces stiff competition from both larger pharmaceutical players and other SME distributors and plans to use the proceeds for expansion and day-to-day operations. Overall, the Goldline Pharmaceutical IPO represents an opportunity in the pharmaceutical distribution space, but with an SME IPO, potential investors should weigh the company's asset-light advantages against its dependency on external manufacturing partners.
Conclusion
The Goldline Pharmaceutical IPO is an opportunity for investors to invest in a growing company, a Nagpur-based pharmaceutical marketer to the public markets. With a focus on a diverse product range and a growing financial profile, the company aims for further expansion and financial management. While the business model Goldline follows offers scalability, the competitive nature of the Indian pharma market remains an important consideration for any informed investor.
Frequently Asked Questions
Recommended Advisory Services
Ready to take your company public? Explore our specialized IPO advisory services tailored for Indian enterprises.
The INDIA IPO Publication is managed by an editorial team that includes highly experienced finance journalists, market researchers and professionals from the capital markets industry who strive to create high-quality content based on credible sources. Our editors write about IPOs, capital markets, corporate news, capital-raising strategies, regulations and other business matters to ensure our audience stays updated with the latest information. We conduct detailed research and fact-check all information before publishing any content to ensure credibility.
Competitive Strengths
Usage of an asset-light business model to maintain low fixed costs and focus on marketing and distribution.
Owns several registered trademarks like AMCLUE and AZITHREE, which provide a foundation for market recognition.
Experienced leadership with long-standing experience in the pharmaceutical distribution and marketing sector.
Diverse distribution network for effective product reach across its target markets.
Download regulatory filings
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 6,000 | 2,58,000 |
| Individual investors (Retail) (Max) | 2 | 6,000 | 2,58,000 |
| S-HNI (Min) | 3 | 9,000 | 3,87,000 |
| S-HNI (Max) | 7 | 21,000 | 9,03,000 |
| B-HNI (Min) | 8 | 24,000 | 10,32,000 |