Medico Remedies IPO

Medico Remedies IPOBusiness description - Medico Remedies is a pharmaceutical formulation manufacturing company with manufacturing and marketing capabilities in formulation with focus on anti-infective, Beta-Lactums, cephalosporins, antimalarial, antiretroviral, anti-ulcer drugs and antacids, vitamins, haematinics and other supplements. Further in addition to the above, the company also has manufacturing and marketing capabilities in other drugs such as NSAIDS, antihistaminic, anti-diabetics, cardio vascular drugs, diuretics, anti-epileptics, combination drug kits, syrups and cream & gel for various therapeutic segments.

The company began its operations in the year 1994 with manufacturing and servicing of diuretics, anti-malarials, NSAIDS tablets, anti-reterovirals, anti-ulcer drugs and anti-acids tablets. As part of expansion, in the year 1999 & 2002, it acquired two adjacent plots of 1,023.50 sq. metres each respectively, for setting up plant at Palghar, Maharashtra. The plant is divided into two units, i.e. general formulations unit and beta- lactam unit; the beta lactam unit is further divided into two segments –penicillin and cephalosporins.

With its long standing operations and quality products, the company has built a strong relationship with its customers for drug formulations. Its clients include Indian as well as foreign pharmaceutical companies like Anphar Limited, Saad Medical, Manfes Pharmaceuticals & Chemical Industries, Award Global Company Limited, Directorate of Health Services (DHS, Maharashtra) to name a few. The company also earns revenue from the sale of licenses such as FMS license, FPS license and MESI license.

Promoters of Medico Remedies – Mr Haresh Mehta, Mr Harshit Mehta and Mrs Rita Mehta
Medico Remedies IPO details
Subscription Dates29 - 31 January 2018
IPO Price bandINR100 per share
Fresh issue 949,200 shares (INR9.49 crore)
Offer for sale 150,000 shares (INR1.5 crore)
Total IPO size1,099,200 shares (INR10.99 crore)
Minimum bid (lot size)1,200 shares
Face Value INR10 per share
Retail Allocation50%
Listing OnBSE SME platform
Use of funds
  • Repayment of loans - INR7.72 crore
  • General Corporate Expenses - INR1.28 crore
Medico Remedies' financial performance (in INR lakh)
 FY2013FY2014FY2015FY2016FY2017H1 FY2018
Total revenue3,380.34,497.75,110.56,692.45,477.92,976.0
Total expenses3,309.74,401.95,016.36,505.45,279.22,913.9
Profit after tax42.862.979.2112.9162.840.0
Medico Remedies Contact Details

Medico Remedies Limited
50, Juhu Supreme Shopping Center
Gulmahor Cross Road No. 9
Juhu, Mumbai-400049

Phone: +91 22 2670 1055/66
Email: [email protected]

Medico Remedies IPO Subscription Details
DaySubscription (no. of times)
Day 10.47
Day 20.96
Day 31.74
Medico Remedies Valuation (Latest FY)

Earnings Per Share (EPS): INR5.09

Price/Earnings (P/E) ratio: 19.65

Return on Net Worth (RONW): 9.94%

Net Asset Value (NAV): INR51.16 per share

Registrar of Medico Remedies IPO

Cameo Corporate Services Limited
Subramanian Building, 1 Club House Road,
Chennai-600 002
Tamil Nadu, India

Phone: +91 44 2846 0390
Fax: +91 44 2846 0129
Email[email protected]

Medico Remedies IPO Allotment Status

Medico Remedies IPO allotment status is now available on Cameo Corporate Services' website. Click on this link to get allotment status.

Listing performance of Medico Remedies

IPO Opening Date: 29 January 2018

IPO Closing Date: 31 January 2018

Finalisation of Basis of Allotment: 5 February 2018

Initiation of refunds: 6 February 2018

Transfer of shares to demat accounts: 7 February 2018

Listing Date: 8 February 2018

Listing Price on BSE SME: INR100 per share (no change from IPO price)

Closing Price on BSE SME: INR97.15 per share (down 2.85% from IPO price)

4 thoughts on “Medico Remedies IPO

  • February 7, 2018 at 10:47 AM


  • January 25, 2018 at 2:00 PM

    My two cents on this

    Medico looks good on paper. At least they are not making up numbers as other SMEs. They have good base of past years and not selling shares too costly. Pharma is currently down but it is one of the best industries to make long term money!

  • January 24, 2018 at 3:43 PM

    Pill is never sweet; valuation on higher side.

  • January 22, 2018 at 4:49 PM

    This one is good. Continue growth business.


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