Indoco Remedies IPO
Indoco Remedies IPO — date, price band, lot size & details 2004
Indoco Remedies listed on 14 Jan 2005 at ₹401.55, 63.9% above the ₹245 issue price.
Indoco Remedies is a Mumbai based pharmaceutical company that makes and markets branded formulations such as Sensodent-KF, Febrex Plus and Tuspel Plus. Its total income was Rs 177.61 crore in FY2004.
Stock price
Indoco Remedies is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 17 Dec 2004
- Close 23 Dec 2004
- Allotment 05 Jan 2005
- Refund/credit TBA
- Listing 14 Jan 2005
Issue summary
The terms of the offer, as filed.
| IPO Dates | 17 to 23 Dec, 2004 |
|---|---|
| Price Band | ₹220 – ₹245 |
| Face Value | ₹10 |
| Lot Size | 25 Shares |
| Issue Size | ₹73.5 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 6,125 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 25 shares at the ₹245 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 25 | ₹6,125 |
| Retail (max) | 32 | 800 | ₹1,96,000 |
| S-HNI (min) | 33 | 825 | ₹2,02,125 |
| S-HNI (max) | 163 | 4,075 | ₹9,98,375 |
| B-HNI (min) | 164 | 4,100 | ₹10,04,500 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 132.12 crore in FY2002 to Rs 177.61 crore in FY2004.
- 02Profit after tax rose from Rs 14.67 crore in FY2003 to Rs 21.26 crore in FY2004.
- 03Net worth rose from Rs 71.12 crore in FY2003 to Rs 87.64 crore in FY2004.
- 04It had 60 trademark registrations and 140 more applications pending.
Risks · 5
- 01Profit after tax fell from Rs 16.55 crore in FY2002 to Rs 14.67 crore in FY2003.
- 0217 of its 60 trademark registrations were pending renewal, and new brands may not succeed.
- 03Drug price controls and competition in branded formulations limit pricing; total income was Rs 146.53 crore in FY2003.
- 04It relied partly on unpatented know-how and confidentiality agreements; net worth was Rs 87.64 crore.
- 05Promoter group holding fell from 79.75% before the issue to 59.51% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Indoco Remedies offer document.
| Metric | 31 Mar 2004 | 31 Mar 2003 | 31 Mar 2002 |
|---|---|---|---|
| Total Income | 177.61 | 146.53 | 132.12 |
| Profit After Tax | 21.26 | 14.67 | 16.55 |
| NET Worth | 87.64 | 71.12 | 71.45 |
| Reserves and Surplus | 79.19 | 62.91 | 62.94 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Indoco Remedies RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Indoco Remedies IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹24.10 | ₹17.99 |
| P/E Ratio (x) | 10.16 | 13.62 |
| Market Cap at Offer Price (₹ Cr) | ₹216.13 | ₹289.53 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹245 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹83.23 Cr of the issue is earmarked to named objects.
About the company
It makes and markets branded pharmaceutical formulations in India.
Its brands include Sensodent-KF, which had grown into a Rs 3.10 crore brand as per ORG data for the year to July 2004, and cough and cold brands Febrex Plus and Tuspel Plus. It had 60 trademark registrations and 140 trademark applications pending.
The IPO was Rs 73.5 crore and was entirely a fresh issue at Rs 245, the top of the Rs 220 to Rs 245 band, with a face value of Rs 10.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Indoco Remedies IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
255 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
HSBC InvestDirect Securities (India) Ltd
24 issues handledBest listing: Dishman Pharmaceuticals & Chemicals (+97.1%). Weakest: Bannari Amman Spinning Mills (-25.2%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Indoco Remedies?
The current Grey Market Premium is ₹0.
What is the Indoco Remedies IPO price band?
₹220 to ₹245, on a face value of ₹10.
When is the allotment?
The basis of allotment is 5 January 2005, with listing on 14 January 2005.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
