Anlon Healthcare Files for IPO to Fund Expansion and Debt Repayment

11 Oct 2024 , 12:39 PM

Anlon Healthcare has filed preliminary papers with SEBI to raise funds via an initial public offering (IPO). The IPO will be a fresh issue of 1.4 Crore equity shares, with no offer-for-sale component.

Net proceeds will be used for:

• ₹30.7 Crore for expanding the manufacturing facility.
• ₹5 Crore to repay debt.
• ₹35.98 Crore for working capital needs.
• Remaining funds will support inorganic acquisitions and general corporate purposes.

The Gujarat-based company has one manufacturing facility and four R&D labs. Anlon Healthcare is promoted by Punitkumar Rasadia and Meet Atulkumar Vachhani, with promoters holding 70.26% stake, and 29.74% held by public shareholders.

The company produces advanced pharmaceutical intermediates and active pharmaceutical ingredients (APIs) for formulations like tablets, syrups, ointments, etc.

Notably, it is one of the few producers of loxoprofen sodium dihydrate, widely used to treat conditions like arthritis, lower back pain, and post-surgery pain.

The company’s product range includes 65 commercialised products, 28 at pilot stage, and 49 in R&D. Interactive Financial Services is the sole merchant banker, with KFin Technologies serving as the registrar.