IPO Details
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Schedule of Anondita Medicare IPO
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Allotment of bids
Refund Initiation
Listing on exchange
About Anondita Medicare IPO
The IPO of Anondita Medicare Ltd comprises a fresh issue of up to 47,93,000 equity shares of face value of ₹10 each. There is no offer for sale in this 100% book-built issue.
Objectives of Anondita Medicare IPO
- Funding capital expenditure requirements for the purchase of equipment/machineries
- Funding the working capital requirements of the company
- Meet out the expenses for unidentified acquisition and general corporate purposes
Anondita Medicare IPO Valuation
Anondita Medicare IPO Share Offer and Subscription Details
| Investor | Shares Offered |
|---|---|
QIBs | Not more than 50% of the offer |
Non-institutional Investor | Not less than 15% of the offer |
Retail Individual Investors | Not less than 35% of the offer |
Industry Outlook
The Indian condom market holds a crucial position within the global contraceptive market. As of 2022, the market was valued at approximately USD 200 million. It has been experiencing robust growth, with a valuation of around USD 214 million in 2023.
Future projections suggest a promising outlook, with the market anticipated to reach USD 355 million by 2030, reflecting a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030.
Company Information
Anondita Medicare Ltd is a manufacturer of male condoms with a variety of flavors, with its flagship product marketed and sold under the brand ‘COBRA’. It has an installed production capacity of nearly 562 million condoms per annum, as per certificate issued by JP Sood, Chartered Engineer, dated November 21, 2024.
Strengths of Anondita Medicare IPO
The strengths of Anondita Medicare IPO and the basis of its issue price are
- Production capabilities
- Experienced management team and a motivated and efficient workforce
- Cordial relations with its consumers
- Quality assurance and control
Risks of Anondita Medicare IPO
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Dependence on Top 10 Customers: The company depends on its top 10 customers for a significant portion of its revenues. The loss of a major customer or significant reduction in demand from any of its major customers may adversely affect its business, financial condition, results of operations and prospects.
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Geographical Concentration: The company’s business operations span various regions across India and extend beyond international borders. Despite its diversified presence, it has a significant dependency on Delhi, Uttar Pradesh and Haryana, which contributed (100%, 91.86%, 94.36%, and 74.03%) of its total revenue from operations for the period ended on 30th June 2024, and for the financial years ending on March 31, 2024, March 31, 2023 and March 31, 2022, respectively.
Any factors relating to political and geographical changes in these states, growing competition and any change in demand may adversely affect its business.
- Reliance on Third Party for Distribution and Marketing: The company is dependent on third parties for the distribution and marketing of its products. If it doesn’t maintain and increase the number of its arrangements for the marketing and distribution of its products, its business, financial condition and results of operations could be adversely affected
Anondita Medicare IPO Financials
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Peer Comparison
| Company Name | PAT (in ₹ crores) | Return on Net Worth (in %) | NAV (in ₹ per share) |
|---|---|---|---|
Anondita Medicare Ltd | 2.16 | 12.45 | 20.57 |
Cupid Ltd | 8.25 | NA | NA |
IPO Registrar and Book Running Lead Manager
- IPO Registrar: Maashitla Securities Pvt Ltd
- Book Running Lead Manager: Narnolia Financial Services Ltd
Business Model
Manufacturer of male condoms under the brand ‘Cobra’, Anondita Medicare Ltd’s condoms are available under different flavours such as strawberry, mint, chocolate, butterscotch, coffee, bubblegum, etc. Encouraged by demand and overwhelming responses from consumers it has also started the production of female condoms.
Company Growth Trajectory
The company’s revenue from operations grew from ₹23.0993 crores in FY 22 to ₹46.4321 crores in FY 24. The EBITDA margin grew from 18.12% in FY 22 to 19.58% in FY 24, while PAT increased from ₹1.5840 crores in FY 22 to ₹3.8447 crores in FY 24. Quality assurance and control coupled with cordial relations with customers has helped the company grow with time.
Market Position
Incorporated in March 2024, Anondita Medicare Ltd boasts a state-of-the-art plant located in Noida, Uttar Pradesh. Its manufacturing capability is supported by 11 existing manufacturing lines at the moment.
Anondita Medicare IPO Profit and Loss
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Total Revenue (in ₹ crores) | 46.55 | 36.13 | 23.25 |
Profit Before Tax (in ₹ crores) | 5.15 | 0.46 | 2.19 |
Profit After Tax (in ₹ crores) | 3.84 | 0.34 | 1.58 |
EPS in ₹ | NA | NA | NA |
Anondita Medicare Balance Sheet
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Profit Before Tax (in ₹ crores) | 5.15 | 0.46 | 2.19 |
Net Cash Provided / (used) by Operating Activities (in ₹ crores) | 7.75 | (9.16) | 4.03 |
Net Cash Provided / (used) by Investing Activities (in ₹ crores) | (3.74) | (0.58) | (1.00) |
Net Cash Provided / (used) by Financing Activities (in ₹ crores) | (3.99) | 9.90 | (3.16) |
Cash and Cash Equivalents at the End of Period (in ₹ crores) | 0.26 | 0.25 | 0.10 |
How to Check the Allotment Status of Anondita Medicare IPO?
Via the Registrar’s Website
- Visit the official website of Maashitla Securities Pvt Ltd
- Click on ‘Public Issues’ under ‘Allotment Status’
- Choose the Company Name from dropdown and enter either your PAN, Application No or Demat Account No
- Click on ‘Submit’ to know the status
Check 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 Anondita Medicare Ltd. 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 Anondita Medicare IPO?
- Step 1: Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Step 2: Specify IPO details: Enter the number of lots and the price you wish to apply for.
- Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
- Step 4: Mandate Notification: Your UPI app will receive a mandate notification to block funds.
- Step 5: 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.
Anondita Medicare IPO FAQs
Where can I read more about Anondita Medicare business?
You can read more about Anondita Medicare and its IPO from the company’s red herring prospectus (RHP) here.
What is the Anondita Medicare IPO?
The IPO of Anondita Medicare Ltd comprises a fresh issue of up to 47,93,000 equity shares
When will the IPO of Anondita Medicare go live?
The exact dates of the IPO are yet to be announced.
