Amanta Healthcare Ltd is launching its Initial Public Offering (IPO) to strengthen capital expenditure requirements, support strategic expansion, and for corporate purposes. The IPO comprises a completely fresh issue of 1.00 crore shares aggregating to Rs. 126.00 crores with a face value of Rs. 10 each.
The total offer size aggregates up to Rs. 126.00 crore. The IPO opens for subscription on September 1, 2025, and closes on September 3, 2025. The shares will be listed on both the NSE and the BSE after the IPO concludes.
GMP of Amanta Healthcare Ltd IPO
As of August 29th, 2025, the shares of Amanta Healthcare Ltd in the grey market were trading at a 19.84 percent premium. The shares in the Grey Market traded at Rs. 151. This gives it a premium of Rs. 25 per share over the cap price of Rs. 126.
Overview of Amanta Healthcare Ltd
Amanta Healthcare Limited, Incorporated in December 1994, is a pharmaceutical company engaged in the development, manufacturing, and marketing of sterile liquid formulations. It specializes in parenteral products packaged using advanced technologies like Aseptic Blow-Fill-Seal (ABFS) and Injection Stretch Blow Moulding (ISBM). The company also manufactures a range of medical devices.
Amanta’s product portfolio includes IV fluids, diluents, ophthalmic solutions, respiratory care products, irrigation solutions, eye lubricants, and first-aid products. These are manufactured across more than 45 generic formulations and marketed under its own brands in India through a network of 320 distributors and stockists.
The company operates through three key business segments: national sales, international sales, and strategic partnerships with Indian and global pharma companies. It exports to markets in Africa, Latin America, the UK, and others, with product registrations in 19 countries and branded exports to 21 countries during FY25. As of March 31, 2025, Amanta Healthcare employed 1,718 personnel across its formulation development, manufacturing, and quality laboratories.
Promoters of Amanta Healthcare
The promoters of Amanta Healthcare Limited are Bhavesh Patel, Vishal Patel, Jayshreeben Patel, Jitendrakumar Patel, and Milcent Appliances Private Limited, who have decades of experience in the pharmaceutical and healthcare sector. Their deep understanding of sterile manufacturing technologies, global regulatory compliance, and pharmaceutical product development has been instrumental in driving the company’s growth.
Lead Managers of Amanta Healthcare IPO
Beeline Capital Advisors Private Limited is acting as the Book Running Lead Manager, while MUFG Intime India Private Limited (formerly Link Intime India Private Limited) is serving as the Registrar, managing investor applications and allotment.
Objectives of the IPO Offer
The proceeds from Amanta Healthcare Limited’s IPO will be primarily used to support the company’s manufacturing expansion and operational enhancement efforts. A substantial portion, amounting to ₹70.00 crore, will be allocated towards funding capital expenditure for civil construction and purchasing equipment, plant, and machinery for setting up a new manufacturing line of SteriPort at Hariyala, Kheda, Gujarat.
An additional ₹30.13 crore will be utilized for similar capital expenditure towards establishing a new manufacturing line for Small Volume Parenterals (SVP) at the same location. The remaining proceeds will be used for general corporate purposes, aiding the company’s ongoing business growth and strategic initiatives.
Financial Analysis of Amanta Healthcare
The company has demonstrated a steady financial performance over the past three years. Total income stood at ₹262.70 crore in FY23, increased slightly to ₹281.61 crore in FY24 (a growth of 7.2%), but declined marginally to ₹276.09 crore in FY25, marking a 2% drop.
Despite the revenue fluctuations, the company’s profitability improved significantly. It posted a loss of ₹2.11 crore in FY23, turned profitable with ₹3.63 crore in FY24, and saw PAT rise sharply to ₹10.50 crore in FY25, demonstrating strong turnaround and operational efficiency.
Amanta Healthcare Ltd Vs Peers
Amanta Healthcare Limited reported a total income of ₹276.09 crore. The company has restated basic and diluted earnings per share (EPS) of ₹3.71, a return on net worth (RoNW) of 10.89%, and a net asset value (NAV) per equity share of ₹33.43, and the price-to-earnings (P/E) ratio and current market price (CMP) are not disclosed.
Their competitor, Denis Chem Lab Limited, recorded a total income of ₹175.67 crore with the. It has a higher P/E ratio of 15.92 and a CMP of ₹92.65, indicating a stronger market valuation. The restated EPS is ₹5.82, with a RoNW of 9.49% and NAV per share of ₹61.33. Compared to Amanta Healthcare, Denis Chem Lab shows higher earnings per share, though Amanta has a slightly better return on net worth.
Amanta Healthcare Strengths and Weaknesses
Strengths:
- The company is a Well-established manufacturer of pharmaceutical formulations with a diverse product portfolio and a diverse market.
- They have Large manufacturing capabilities.
- The company has a Wide Domestic and International Marketing Network.
- It has an experienced management team supported by a large, diverse, and skilled workforce.
Weakness:
Single Location Manufacturing Risk: The entire manufacturing is concentrated at one facility in Hariyala, Kheda, Gujarat. Any disruption due to power/water shortages, machinery failure, natural disasters, or other unforeseen events could negatively impact production and business operations.
Operational and Quality Risks: Delays or issues in manufacturing or quality control may lead to order cancellations, contract breaches, and loss of clients, adversely affecting revenue and cash flow. Legal Risk: The company is involved in ongoing material litigation. An unfavorable outcome could impact financial condition and growth prospects.
Shareholder Exit Offer: The company has issued equity shares to over 49 investors in the past and has provided an exit offer to eligible shareholders as part of enhanced corporate governance.
Conclusion
Amanta Healthcare Ltd.’s IPO offers a promising opportunity in the pharmaceutical sector. The company has a strong range of products, a growing international presence, and has shown a good recovery in profits over the past few years. Its plans to expand manufacturing capacity further strengthen its long-term growth potential. Overall, the IPO could be a good option for those looking to invest in the healthcare space, but it’s important to look carefully at the company’s fundamentals and risk factors before investing.
Written by Sridhar J
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