Claroid Pharmaceuticals Files IPO Papers With Sebi, Plans New Ahmedabad Manufacturing Facility

Pharmaceutical company Claroid Pharmaceuticals has submitted draft paperwork to the capital markets regulator Sebi to initiate an initial public offering (IPO). The proposed IPO would involve issuing up to 74.50 lakh new equity shares and allowing for the sale of up to 51.50 lakh shares, totaling 1.26 crore shares. These funds would be directed towards constructing a new manufacturing facility in Ahmedabad, India, where the firm will produce injectables, ampoules, vials, dry powder, pre-filled syringes, and eye-drops.

This project is estimated to be priced at approximately Rs 167.97 crore and will boast an output capacity of 15 lakh units monthly. Claroid Pharmaceuticals currently runs a manufacturing plant in Pirana, Ahmedabad, where they produce tablets, capsules, and ointments. The company's product portfolio encompasses 129 pharmaceutical formulations, catering to therapeutic areas such as anti-infective, anti-inflammatory, anti-fungal, dermatology, pain management, and gastrointestinal therapies.

The company enjoys an export network across various African nations, with Nigeria being its primary market. Claroid Pharmaceuticals experienced a significant revenue surge, escalating from Rs 62.98 crore in FY24 to Rs 169.72 crore in FY26, achieving a compound annual growth rate (CAGR) of 64.13 per cent. The firm holds GMP certifications from regulatory bodies in Rwanda, Ghana, Tanzania, and Zanzibar.

Claroid Pharmaceuticals possesses an internal formulation and development facility along with quality control, assurance, and microbiology laboratories. It is backed by a network of over 30 distributors across Africa. For the IPO, the firm has enlisted Oneview Corporate Advisors and Valmiki Leela Capital as the book-running lead managers.