IPO Overview
Speciality Medicines Limited is an Ahmedabad, Gujarat based pharmaceutical company engaged in the marketing and distribution of specialty pharmaceutical products. The company provides high-cost oral and injectable medications used in the treatment of complex chronic conditions such as oncology, immunology, neurology, and rare diseases.
The company has a portfolio of 900+ products and maintains presence across 35+ countries, along with a distribution network spanning 20+ states in India.
The company is launching its SME IPO on the BSE SME platform, aiming to raise approximately ₹29.14 crore through a fresh issue of 23,50,000 equity shares. The price band is ₹117–₹124 per share, and the lot size is 1,000 shares (minimum 2 lots), making the minimum retail investment approximately ₹2,48,000.
The IPO opens on 20 March 2026 and closes on 24 March 2026, with listing expected around 30 March 2026.
IPO Detailed Information
Issue Details
| Parameter | Details |
| IPO Type | Book Built – SME |
| Listing Exchange | BSE SME |
| IPO Open Date | 20 March 2026 |
| IPO Close Date | 24 March 2026 |
| Allotment Date | 25 March 2026 (Expected) |
| Refund Initiation | 27 March 2026 |
| Credit to Demat | 27 March 2026 |
| Listing Date | 30 March 2026 (Tentative) |
| Price Band | ₹117 – ₹124 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,000 shares |
| Minimum Investment | ₹2,48,000 (approx) |
| Issue Size | ₹29.14 crore |
| Fresh Issue | 23,50,000 shares |
| Offer For Sale | Nil |
✅ Note: Entire IPO is a fresh issue — no promoter exit.
Issue Break-up
| Category | Allocation |
| Qualified Institutional Buyers (QIB) | Up to 21,000 shares (~2%) |
| Non-Institutional Investors (NII/HNI) | Up to 10,89,000 shares (~49%) |
| Retail Individual Investors | Up to 10,90,000 shares (~49%) |
| Market Maker | Up to 1,50,000 shares |
Selling Shareholders (OFS)
There is no Offer For Sale (OFS) in this IPO. All funds raised will go directly to the company for business expansion and operational growth.
Objects of the Issue (Fund Utilization)
The company plans to use the IPO proceeds for:
- Setting up an R&D Centre – ₹12.68 crore (in Valsad, Gujarat)
- International market product registration – ₹2.99 crore
- Marketing & Promotional Activities – ₹1.66 crore
- Working Capital Requirements – ₹8.00 crore
- General Corporate Purposes – Remaining amount
Lead Managers & Registrar
- Book Running Lead Manager: Unistone Capital Private Limited
- Registrar to the Issue: Skyline Financial Services Pvt. Ltd.
Promoters & Management
The company is promoted by:
- Mr. Parth B. Goyani – Chairman & Managing Director
- Mr. Sumit Babubhai Goyani – Co-Promoter
The promoters bring a combined 13+ years of experience in the pharmaceutical industry, with strong expertise in specialty medicines, distribution, and international market development.
Company Details
Speciality Medicines operates through two integrated business models:
- Contract Manufacturing – Manufacturing of approved formulations for international distribution
- Marketing & Distribution – Marketing of specialty pharma products sourced from manufacturers
Therapeutic Areas Served:
- Oncology (Cancer Treatment)
- Immunology
- Neurology
- Rare Diseases
Key Capabilities:
- 900+ product portfolio across multiple dosage forms (Tablets, Capsules, Injections, Inhalers, Eye Drops, Nasal Sprays, Infusions)
- Pan-India distribution across 20+ states
- International presence in 35+ countries
Certifications & Registrations:
- Products registered in Jordan, Ethiopia, Uganda, Peru, and Namibia
- As of Feb 2026 — 7 products registered overseas, 54 products under registration in 5 countries
Financial Snapshot
| Period | Revenue (₹ Cr) | PAT (₹ Cr) |
| FY25 | ₹58.54 | ₹8.61 |
| FY24 | ₹27.66 | ₹2.93 |
Revenue more than doubled from FY24 to FY25!
Key Financial Metrics
- Revenue Growth: ~112% YoY (FY24 → FY25)
- PAT Growth: ~194% YoY
- GMP (Grey Market Premium): ₹0 (as of now)
Company Strengths
- Strong presence in the high-value specialty pharma segment
- International footprint across 35+ countries
- Diversified portfolio of 900+ products
- Focus on high-demand therapeutic areas — Oncology, Neurology, Rare Diseases
- Exceptional revenue and profit growth (2x revenue in just one year)
- Experienced promoters with 13+ years in pharma
- Scalable dual business model (Contract Manufacturing + Distribution)
Key Risks & Challenges
- Relatively young company (incorporated 2021)
- Strict regulatory compliance required in pharmaceutical sector
- Risk of business loss if quality standards are not maintained
- Possible delays in international product registration
- SME IPO liquidity risk
- High minimum investment (₹2,48,000) — costly for small retail investors
Disclaimer
This document is for informational purposes only and should not be considered as investment advice. Investors should carefully read the Red Herring Prospectus (RHP) and consult a SEBI-registered financial advisor before investing in any IPO. Market investments are subject to risk.
