About Speciality Medicines IPO
Speciality Medicines IPO Details
The Speciality Medicines IPO is a book-built issue of ₹29.14 crore, consisting entirely of a fresh issue of 0.24 crore shares. The price band of ₹117 to ₹124 per share and the lot size for an application is 1,000. The company filed its DRHP with SEBI on Sep 29, 2025.
The IPO will open for subscription from March 20 to 24, 2026, on the BSE SME platform with a tentative listing date fixed as March 30, 2026. The book-running lead manager (BRLM) for this issue is Unicon Capital Services Pvt. Ltd., while the registrar to the issue is Skyline Financial Services Pvt. Ltd.
Speciality Medicines IPO Date & Timeline
The Speciality Medicines IPO is officially set to open for subscription on March 20, 2026 and will close on March 24, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on Sep 29, 2025 and has now finalized its schedule following SEBI approval. Once the subscription window closes, the finalization of the basis of allotment is expected on Mar 25, 2026. Following this, the company will initiate refunds and credit shares to successful investors' demat accounts on March 27, 2026. Finally, the Speciality Medicines Ltd. shares are tentatively scheduled to list on the stock exchanges on Mar 30, 2026.
Speciality Medicines IPO Timeline
| IPO Open Date | Fri, Mar 20, 2026 |
| IPO Close Date | Tue, Mar 24, 2026 |
| Tentative Allotment | Wed, Mar 25, 2026 |
| Initiation of Refunds | Fri, Mar 27, 2026 |
| Credit of Shares to Demat | Fri, Mar 27, 2026 |
| Tentative Listing Date | Mon, Mar 30, 2026 |
| Cut-off time for UPI mandate confirmation | - |
Speciality Medicines IPO Details
| Detail | Description |
|---|---|
| IPO Date | 20 to 24 Mar, 2026 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Issue Price Band | ₹ 117 to ₹ 124 |
| Lot Size | 1,000 Shares |
| IPO Type | Fresh Capital |
| Total Issue Size | 23,50,000 shares (agg. up to ₹ 29 Cr) |
| Reserved for Market Maker | 1,50,000 shares (agg. up to ₹ 2 Cr) |
| Net Offered to Public | 22,00,000 shares (agg. up to ₹ 27 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 64,35,796 shares |
| Share Holding Post Issue | 87,85,796 shares |
Speciality Medicines 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 Speciality Medicines 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 desire, 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 ₹124 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹0, and a lot size of 1000 shares.
Speciality Medicines GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | ₹124.00 | ₹0 | - |
Company Background
Speciality Medicines Ltd. was incorporated as a private firm on February 5, 2021, in Ahmedabad. It transformed into a public limited company on June 25, 2024, to meet its expanding footprint in the pharmaceutical industry. Starting from a local startup with its headquarters in Gujarat and a corporate office in Mumbai, it has become a global player in the pharmaceutical industry with its current business operations in the marketing and distribution of specialized finished formulations in both domestic and international markets.
Operations & Product Range
Speciality Medicines Ltd. operates primarily as a marketer and distributor of specialty pharmaceutical products. It has a wide range of high-cost medicines that are orally administered and injected into the system for treating various complex and chronic medical conditions. Its medicines cover a wide spectrum of pharmaceutical classes such as oncology, immunology, neurology and rare diseases. It has a wide customer base ranging from government and private hospitals to overseas distributors.
Facilities & Capacity
Speciality Medicines Ltd. is a distribution-led organization that has developed an infrastructure to support a global supply chain. They source their products from manufacturers who operate to global standards, including WHO-GMP-certified facilities. A major part of their future strategy is to set up a separate R&D center. This new facility will include construction, lab machinery and electrical equipment to enhance their capabilities.
Brands & Market Presence
Speciality Medicines Ltd. has already established a strong footprint, as it currently operates in more than 20 states and also operates in more than 35 countries. Its main goal is to provide high-quality Indian medicine brands and registered specialty pharmaceuticals. Its main principle is to develop strong relationships with suppliers, providing high-quality medicine that adheres to high safety and efficacy standards. Its product range currently comprises 128 items, while plans are underway to increase this number to 281 products shortly.
Revenue Streams & Business Model
The major way to generate revenues for Speciality Medicines Ltd. is by trading and distributing the formulations. The business model for Speciality Medicines Ltd. is based on being a GDP-certified distributor and bringing the manufacturer and healthcare providers together. The working capital requirement for the company was ₹740.58 lakhs, but this has increased substantially to ₹3,121.44 lakhs by FY25.
Management & Shareholding
Speciality Medicines Ltd. is headed by its promoters, Parth Goyani and Sumit Goyani. Before the issue of the IPO, the average cost of acquisition of equity shares of the company belonging to promoters stood at ₹6.82 for Parth Goyani and ₹6.97 for Sumit Goyani. There is a change in the shareholding structure with the issue of fresh shares, which is a portion of the post-issue paid-up equity share capital.
Board & Key Management
The board and key management group of Speciality Medicines Ltd. consists of the Chairman and Managing Director, Parth Goyani. The company also has a Whole-Time Director, Sumit Goyani. The company has a professional management group as well, which includes CFO Kalpesh Bharatbhai Pipaliya, CS named Anita Kumawat, who also acts as the Compliance Officer. The company also has Independent Directors for the purpose of corporate governance.
Speciality Medicines IPO Financial Information
Latest Revenue
36.72
₹ Crore
Profit After Tax
6.06
₹ Crore
Net Worth
36.47
₹ Crore
Total Borrowing
4.81
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Oct 25 | 45.57 | 36.72 | 6.06 | 36.47 | 30.04 | 4.81 | |||
| 31 Mar 2025 | 39.98 | 58.27 | 8.61 | 30.42 | 23.98 | 5.05 | |||
| 31 Mar 2024 | 22.68 | 27.52 | 2.93 | 15.06 | 9.95 | 2.86 | |||
| Amount in ₹ Crore | |||||||||
Speciality Medicines Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 18.11 % |
| ROCE | 16.68 % |
| Debt/Equity | 0.13 |
| RoNW | 16.61 % |
| PAT Margin | 16.49 % |
| EBITDA Margin | 17.73 % |
| Price to Book Value | 2.19 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 13.38 | 11.82 |
| P/E (x) | 9.27 | 10.49 |
Speciality Medicines IPO Objectives
The proceeds from the Speciality Medicines IPO are earmarked for several strategic initiatives.
- • Funding the capital expenditure for the establishment of a Research and Development (R&D) Center
- • Funding the working capital requirements
- • General corporate purposes
Speciality Medicines IPO Review
Speciality Medicines Ltd. is a unique player in India’s pharmaceutical industry, providing high-priced specialty medications. Its presence spans over 35 countries, thereby offering a diversified revenue base. Its focus on oncology and immunology is a sign of global pharmaceutical trends, indicating increasing demand for chronic disease management.
Its financial condition shows consistent growth, with a net profit of ₹869 lakh recorded in FY 2025. However, the increasing trend of working capital requirements over the last three years is a sign of a capital-intensive business model. Its decision to set up an R&D center is a strategic move towards creating more value within its current distribution business model.
Investors would need to look at its strengths, such as its WHO-GMP certification, as well as weaknesses, such as its absence of manufacturing facilities and its need to partner with others. Its business is a trading business, which makes it vulnerable to managing margins due to fluctuations in procurement costs and government price controls.
Conclusion
Speciality Medicines IPO allows investors the chance to put their money in a firm that is expanding its footprint in the specialty medicines distribution space. The firm, with its focus on niche therapeutic areas, is looking to expand its footprint in the healthcare space, which is expected to grow in the coming years. The current business model is based on trading and distribution, though the move to set up an R&D center shows the firm’s intentions of going deeper into the space.
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Competitive Strengths
Substantial presence in countries across the globe, with a focus on specialty drugs and vaccines.
Strong partnerships with WHO-GMP-compliant and ISO 9001 manufacturers ensure efficacy.
Our focus is on high-growth therapeutic areas like oncology, neuroscience and rare diseases.
GDP-certified distribution operations that help build trust with our global pharmaceutical partners.
Download regulatory filings
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2000 | 248000 |
| Individual investors (Retail) (Max) | 2 | 2000 | 248000 |
| S-HNI (Min) | 3 | 3000 | 372000 |
| S-HNI (Max) | 8 | 8000 | 992000 |
| B-HNI (Min) | 9 | 9000 | 1116000 |