Goldline Pharma IPO attracts massive 782x subscription; check GMP, allotment and listing dates

Goldline Pharmaceutical has attracted robust demand for its IPO, with the public issue recording a massive 781.85 times subscription on May 14, the final day of bidding. This marked the second-highest subscription in the SME segment in the current calendar year after Gabion Technologies India IPO, which was booked more than 800 times in January 2026.

The Nagpur-based pharmaceutical products marketing company is raising Rs 11.61 crore via an initial public offering (IPO) of 27 lakh shares. The price band for the offer was Rs 41-43 per share.

Investors have bid 153.86 crore equity shares against the offer size of 19.68 lakh shares via 1.66 lakh applications. Non-institutional investors took the lead in terms of support, bidding 1,227.90 times their allotted quota. The portions set aside for retail investors and qualified institutional buyers were subscribed 881.15 times and 180.22 times, respectively.

The IPO share allotment will be finalised by May 15, while Goldline Pharmaceutical shares will be available for trading on the BSE SME on May 19.

Goldline IPO shares traded at around 35 percent premium in the grey market, the market observers said.

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The company intends to utilise Rs 8.35 crore of IPO proceeds for repayment of certain outstanding borrowings, and the remaining amount for general corporate purposes.

Total borrowings in company's books amounted to Rs 9.1 crore as of March 2026.

Goldline Pharmaceutical is engaged in marketing of pharmaceutical products under the brand Goldline. The company does not manufacture any pharma products, instead, it entered into contractual arrangements with third-party manufacturers. Presently, it has contractual arrangements with 15 manufacturers and 8 distributors.