IPO Details
RHP/DRHPIssue Date
20 Jun - 24 Jun'25
Investment/lot
₹ 115200
Price Range
68 - 72
Lot Size
1600
IPO Size
₹ 25.5 - ₹ 27 Cr
Schedule of Aakaar Medical Technologies IPO
Start date
20/06/2025
End date
24/06/2025
Allotment of bids
25/06/2025
Refund Initiation
26/06/2025
Listing on exchange
27/06/2025
About Aakaar Medical Technologies IPO
Aakaar Medical Technologies is an IPO of ₹27 crores. The IPO of Aakaar Medical Technologies Ltd consists only of a fresh issue of up to 37,50,400 equity shares of face value of ₹10 each. It has no offer for sale. The price band of the offer is ₹68 to ₹72. The lot size is 1600.
The opening date of the IPO is June 20, 2025 and the closing date of the IPO is June 24, 2025. The listing of shares will take place on June 27, 2025. The allotment date is June 25, 2025. The initiation of refunds will take place on June 26, 2025.
Objectives of Aakaar Medical Technologies IPO
- Funding working capital requirements of the company
- General corporate purposes
Aakaar Medical Technologies IPO Valuation
Aakaar Medical Technologies IPO Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the net issue |
Non-institutional Bidders | Not less than 15% of the net issue |
Retail individual Bidders | Not less than 35% of the net issue |
Industry Outlook
The global medical aesthetics and cosmetic dermatology market was valued at USD 35.9 Bn in CY2024 and is projected to reach USD 57.4 Bn by CY2030. It is expected to register a CAGR of 8.1% during CY2024 - CY2030. The Indian medical aesthetics and cosmetic dermatology market generated a revenue of USD 283.9 Mn in CY2024 and is expected to grow at a CAGR of 13.9% during the forecasted period to generate a revenue of USD 618.8 Mn in CY2030.
Company Information
Aakaar Medical Technologies Ltd is a medical aesthetic company dealing in a wide range of aesthetics and specialised cosmetic products and devices. Its product range includes both its own brands and imported brands from countries such as Korea, Spain, Italy and Austria. The company supplies its products and devices primarily to dermatologists, plastic surgeons, aesthetic physicians who then sell these products to their end consumers as well as use certain device consumables as part of their treatments.
Aakaar Medical Technologies IPO Strengths
Diversified Customer Base
Aakaar Medical Technologies Ltd has a large and dynamic customer base of doctors and clinic chains across India with new customers entering the mix every year. Its top 10 customers contributed 10.96% of the revenue of the company for FY 2024.
Diversified Product Base
The company is engaged across multiple product segments with a wide product base of 151 SKUs as at August 2024 and 1,93,240 units of SKUs sold for the five- month period ending August 31 2024. Its diversified product base has led it to become a one stop destination for the dermatologists providing a range of products from Home Care to Professional Care to Injectables and Contouring to devices.
Pan India Reach Through Its Consignment Sales Partner
The company has partnered with Parekh Integrated Services Pvt. Ltd (PISPL) a leading logistics company in operation for 4 decades as its CSA partner. PISPL stores its products at its 21 warehousing centres across India which provides easy accessibility to pin codes across India for distributing its products to the doctors and clinic chains.
Risks of Aakaar Medical Technologies IPO
- Dependence on Imported Third-party Brands
A substantial portion of Aakaar’s revenue is derived from sale of imported third party manufactured brands which exposes it to various risks. Any disruption in these relationships, supply chain issues, or discontinuation of its alliance could adversely impact its ability to maintain a steady inventory and supply continuity, affecting customer satisfaction and revenue.
- Geographical Concentration
The company’s registered office is situated in Maharashtra and it derives a significant portion of its revenue from the state of Maharashtra and Karnataka, making it vulnerable to geographical concentration risk.
- Reliance on third party contract manufacturers
They rely on third party contract manufacturers (domestic and international) & loan licensing partnersfor manufacturing products & devices which they sell under their own Brand. Their dependence on third party manufacturers for the manufacturing of all their products subjects them to certain risks, which, if realized, could adversely affect their business, results of operations, cash flows and financial condition.
All Financial Information about Aakaar Medical Technologies
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Peer Comparison
Aakaar Medical Technologies Ltd believes that with its pure play B2B business model supplying to Dermatologists/Aesthetic Physicians & concentration on Aesthetic Products only through doctors, there are no listed entities of similar size or similar business model in India, which is comparable with its business.
Anchor Investor Bidding Date The anchor investor bidding date is June 19, 2025.
- IPO Registrar: Bigshare Services Pvt Ltd
- Book Running Lead Manager: Indorient Financial Services Limited
Business Model
Aakaar’s product range includes both its own brands and imported brands.
-
Sale of imported brands: The company sells products & devices of reputed aesthetic brands in India via distribution agreements/sourcing arrangements. This segment contributed 70% of the revenue for FY 2024.
-
Sale of own brands: This business segment accounted for 30.22% of the company’s revenues in Financial Year 2024 & 39.57% of its revenues for five- month period ending August 31 2024.
Company Growth Trajectory
Aakaar’s revenue from operations jumped from ₹19.4653 crores in FY 22 to ₹46.1110 crores in FY 24. It further jumped to 61.5828 crores in FY 25. Its EBITDA jumped from ₹3.5286 crores in FY 22 to ₹4.9989 crores in FY 24 and 9.7369 crores in FY 25.
Market Position
Incorporated in 2013, Aakaar Medical Technologies has established a distinctive presence in the medical aesthetic market by exclusively focusing on business-to-business(B2B) channels for product distribution and sales. The company’s customer base was 5205 as of FY 24.
Aakaar Medical Technologies IPO Profit and Loss
| Parameter | FY25 | FY24 | FY23 | FY22 |
|---|---|---|---|---|
Total Income (in ₹ crores) | 61.7607 | 46.2704 | 32.8785 | 19.5087 |
Profit Before Tax (in ₹ crores) | 8.0805 | 3.8853 | 3.1025 | 2.2036 |
Profit/(Loss) for the Year (in ₹ crores) | 6.0395 | 2.8702 | 2.1532 | 1.6185 |
EPS in ₹ | 6.13 | 3.15 | 2.37 | 1.78 |
Aakaar Medical Technologies IPO Cash Flow Statement
| Parameter | FY 25 | FY 24 | FY 23 | FY 22 |
|---|---|---|---|---|
Profit Before Tax (in ₹ crores) | 8.0805 | 3.8853 | 3.1025 | 2.2036 |
Net Cash Flow Used in Operating Activities (in ₹ crores) | 5.4063 | (8.0440) | (2.9275) | 0.4840 |
Net Cash Flow Used in Investing Activities (in ₹ crores) | 0.0540 | (0.0383) | (0.3203) | (0.2273) |
Net Cash Flow Generated from Financing Activities (in ₹ crores) | 10.7102 | 8.1910 | 1.1689 | (0.8091) |
Cash and Cash Equivalents at the End of the Year (in ₹ crores) | 5.5464 | 0.2965 | 0.1879 | 2.2668 |
How to Check the Allotment Status of Aakaar Medical Technologies IPO?
1. Visit the Registrar’s Website
Visit the official website of Bigshare Services Pvt Ltd and choose ‘IPO Allotment Status’ from ‘Solutions’. Click on any one of the servers, choose the company name from the dropdown and input either your application number, beneficiary ID or PAN number. Enter captcha and click on ‘Search’ to know the allotment status.
2. Verify on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. You can use it to check the status of Aakaar Medical Technologies Ltd IPO. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'. On the NSE IPO Bid Verification page, enter:
- Company name from dropdown
- Application number
- PAN
Then click 'Submit' to know the allotment status.
How to Apply for Aakaar Medical Technologies IPO?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Aakaar Medical Technologies IPO FAQs
What is the minimum lot size required for Aakaar Medical Technologies IPO?
The minimum lot size is 1600 shares and the investment required is ₹115200.
What is the price band of the Aakaar Medical Technologies IPO?
The price band of Aakaar Medical Technologies IPO is ₹68 to ₹72.
Where can I read more about Aakaar Medical Technologies business?
You can read more about Aakaar Medical Technologies and its IPO from the company’s red herring prospectus (RHP) here.
What is the Aakaar Medical Technologies Ltd IPO?
The IPO of Aakaar Medical Technologies Ltd comprises only a fresh issue of up to 37,50,400 equity shares of face value of ₹10 each.
When will the IPO of Aakaar Medical Technologies Ltd IPO go live?
The IPO dates of Aakaar Medical Technologies Ltd have been announced. The IPO starts on June 20, 2025 and closes on June 24, 2025
Who is the MD of Aakaar Medical Technologies Ltd?
Dilip Ramesh Meswani is the MD of Aakaar Medical Technologies Ltd.
From where can I read more about the IPO of Aakaar Medical Technologies Ltd?
You can read more about the IPO of Aakaar Medical Technologies Ltd from the company’s red herring prospectus here.
