Accretion Pharmaceuticals Ltd

Accretion Pharmaceuticals will hold a meeting of the Board of Directors of the Company on 10 June 2025.Powered by Capital Market - Live

The scrip was listed at 79, a discount of 21.78% over the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% over its listing price. The counter hit a high of Rs 82.95 and a low of Rs 75.05. About 4.48 lakh shares of the company changed hands at the counter. Accretion Pharmaceuticals' IPO was subscribed 7.31 times. The issue opened for bidding on 14 May 2025 and it closed on 16 May 2025. The price band of the IPO was set at Rs 96 to Rs 101 per share. The IPO comprised fresh issue of 29,46,000 equity shares. The promoter and promoter group shareholding diluted to 73.14% from 100% pre-issue. The company intends to utilize the net proceeds for capital expenditure towards the purchase of new equipment and machinery, capital expenditure for the upgradation of the existing manufacturing facility, repayment or prepayment of certain borrowings availed by the company, funding of working capital requirements and for general corporate purposes. Ahead of the Accretion Pharmaceuticals on 13 May 2025, raised Rs 2.13 crore from anchor investors. The company allotted 2.11 lakh shares at Rs 101 per share to 2 anchor investors. Accretion Pharmaceuticals is engaged in the business of manufacturing and marketing tablets, capsules, oral liquids, external preparations (ointments, creams, gels, lotions, medicated shampoos, mouthwash, dusting powder), and oral powders (sachets, dry syrup), etc. Apart from manufacturing products for direct sales, the company also manufactures various pharmaceutical products for different marketers on a loan license or contract manufacturing basis. Its business is primarily carried out on a principal-to-principal basis with different marketers. The company had a total of 105 employees. The company recorded revenue from operations of Rs 35.67 crore and net profit of Rs 5.24 crore for the period ended 31 December 2024. Powered by Capital Market - Live