Amanta Healthcare Ltd IPOAMANTA

The IPO opens on 01 Sept 2025 & closes on 03 Sept 2025.

Amanta Healthcare Limited was originally incorporated on December 21, 1994 as Marck Parenterals (India) Limited with RoC, Gujarat, at Ahmedabad by converting the existing Partnership Firm 'Marck Parenterals (India)' on January 06, 1995. The Company name was changed to 'Marck Biosciences Limited' vide a fresh Certificate of Incorporation issued by the Registrar of Companies, Gujarat, at Ahmedabad, dated November 2, 2005 and was again changed to 'Amanta Healthcare Limited' dated June 24, 2014. Amanta Healthcare Limited is a pharmaceutical company engaged in developing, manufacturing and marketing a diverse range of sterile liquid products - parenteral products, packed in plastic container with Aseptic Blow-Fill-Seal (ABFS) and Injection Strech Blow Moulding (ISBM) technology. The Company manufacture large volume parenterals (LVPs) and small volume parenterals (SVPs) in six therapeutic segments. In addition to that, it also manufacturer medical devices. It manufacture fluid therapy - (IV Fluid), formulations, diluents, ophthalmic, respiratory care and irrigation solutions in therapeutic segment and products like irrigation, first-aid solution, eye lubricants etc. in medical device segment. It offer closure systems, such as nipple head, twist-off, leur-lock and screw types and container fill-volume ranging from 2ml to 1000 ml. The Company introduced Large Volume Parenterals (LVP) project for Formulations, Fluid Therapy & Irrigation Solution in year 1997; and started the L-1 in Block A in 1998. It launched a specialised production line 'LVP Line II' for the manufacture of Large Volume Parenterals in Kheda District of Gujarat in 2002. Further, it launched a specialised production line 'SVP Line I' for the manufacture of Small Volume Parenterals in Kheda, Gujarat in 2005, launched L-III Large Volume Parenterals Facility for 500 ml products in Block -A in 2007; launched a specialised production line 'SVP line II' for the manufacture of Small Volume Parenterals in Gujarat in 2008. Following the approval from National Company Law Tribunal, Ahmedabad, in October 2018, Marck Remedies Private Limited (MRPL) got merged with the Company through the Scheme of Amalgamation and the entire undertaking of MRPL was transferred to the Company as a going concern effective from April 1, 2017. In consideration of the transfer of MRPL's undertaking, 1 fully paid-up Equity Share of Rs 10 of the Company was issued and allotted for every 38 equity shares of Rs 10 each held in MRPL by their respective shareholders. Later on, the Company launched a specialised production line 'SteriPort -Debottlenecking' in 2021 and is currently manufacturing out of seven (7) active production lines including SVP and LVP in 2024. The Company is planning an Initial Public Offer of upto 1,25,00,000 Equity Shares through Fresh Issue.

Amanta Healthcare Ltd IPO will close on 03 Sept 2025.

<ul><li>Well established manufacturer of pharmaceutical formulations with diverse product portfolio and diverse market.</li><li>Large manufacturing capabilities.</li><li>Wide Domestic and International Marketing Network.</li><li>Experienced management team supported by large, diverse and skilled work force.</li></ul>

<table class="table"> <thead> <tr> <th>S.No</th> <th>Promoters Name</th> <th>Pre Issue Shares</th> <th>Pre Issue Percentage</th> <th>Post Issue Shares</th> <th>Post Issue Percentage</th> </tr> </thead> <tbody> <tr> <td>1</td> <td>Bhavesh Patel</td> <td>6249593</td> <td>21.68</td> <td>6249593</td> <td>16.1</td> </tr> <tr> <td>2</td> <td>Vishal Patel</td> <td>3905288</td> <td>13.55</td> <td>3905288</td> <td>10.06</td> </tr> <tr> <td>3</td> <td>Jayshreeben Patel</td> <td>998109</td> <td>3.46</td> <td>998109</td> <td>2.57</td> </tr> <tr> <td>4</td> <td>Jitendrakumar Patel</td> <td>3485838</td> <td>12.09</td> <td>3485838</td> <td>8.98</td> </tr> <tr> <td>5</td> <td>Milcent Appliances Pvt Ltd</td> <td>3100000</td> <td>10.75</td> <td>3100000</td> <td>7.99</td> </tr> <tr> <td>6</td> <td>Pravinchandra Mehta</td> <td>1982763</td> <td>6.88</td> <td>1982763</td> <td>5.11</td> </tr> <tr> <td>7</td> <td>Praful Patel</td> <td>2282264</td> <td>7.92</td> <td>2282264</td> <td>5.88</td> </tr> <tr> <td>8</td> <td>Niranjanbhai Patel</td> <td>1504951</td> <td>5.22</td> <td>1504951</td> <td>3.88</td> </tr> <tr> <td>9</td> <td>Kirit Desai</td> <td>1133079</td> <td>3.93</td> <td>1133079</td> <td>2.92</td> </tr> <tr> <td>10</td> <td>Darpana Patel</td> <td>25163</td> <td>0.09</td> <td>25163</td> <td>0.06</td> </tr> <tr> <td>11</td> <td>Sarala Desai</td> <td>12024</td> <td>0.04</td> <td>12024</td> <td>---</td> </tr> <tr> <td>12</td> <td>Veenaben Patel</td> <td>1</td> <td>---</td> <td>1</td> <td>---</td> </tr> <tr> <td>13</td> <td>Manisha Patel</td> <td>1</td> <td>---</td> <td>1</td> <td>---</td> </tr> </tbody> </table>

<ul><li>Our Company's entire manufacturing facility is located at a single location, and all of the Company's manufactured products are produced from such facility in village Hariyala, district Kheda, Gujarat. Any delay in production at, or shutdown of, our manufacturing facility due to various factors such as shortage of electrical power or water resources, political instability, industrial accidents or machinery breakdowns, severe weather conditions, natural disasters, and outbreak of infectious diseases may in turn adversely affect our business, financial condition and results of operations.</li><li>Any manufacturing or quality control concerns or our inability to deliver products on a timely basis, or at all, could result in the cancellation of purchase orders, breaches of relevant agreements, and termination of agreements by our clients and distributors, which could have an adverse effect on our business, results of operations, financial condition and cash flows.</li><li>Our Company is involved in a certain material litigation and an adverse outcome in this proceeding may adversely affect our business, financial condition and growth strategy.</li><li>We may not be able to improve our profit margins and profits in the future.</li><li>Our Company had issued Equity Shares to more than 49 investors in the past and as a matter of abundant caution for better corporate governance, our Company has given an exit offer to the eligible shareholders.</li><li>Finance cost of the Company has been very high and finance cost of the company for the Fiscal 2025, Fiscal 2024, and Fiscal 2023 constituted 45.78%, 57.25% and 62.64% of the Restated Earnings before interest, tax, depreciation and amortization (EBITDA). If company is unable to control the finance cost in future, it may adversely affect business, results of operations, financial condition and cash flows.</li><li>Our operations are labour intensive, and we may be subject to strikes, work stoppages or increased wage demands by our employees, increase in minimum wages across various states and we may also be unable to engage new employees at commercially attractive terms which could adversely affect our business, results of operations and financial condition.</li><li>We rely on limited suppliers for our raw material i.e., LDPE (Low Density Polyethylene) and PP granules (Polypropylene). The prices of LDPE and PP granules are volatile and largely linked to crude price volatility. Loss of these suppliers, or any fluctuation in the prices of these raw materials may have an adverse effect on our business, results of operations and financial conditions.</li><li>The Issue Price, market capitalisation to revenue multiple and price to earnings ratio of our Company based on the Issue Price may not be indicative of the market price of our Company on listing or thereafter or indicative of such multiples and ratios based on the market price of the Equity Shares on listing or thereafter.</li><li>Our manufacturing license has been suspended in the past and any such suspensions in the future could adversely affect our business, results of operations, financial condition and cash flows.</li><li>Certain of our immovable properties, including our registered and corporate office, are leased. If we are unable to renew existing leases or relocate our operations on commercially reasonable terms, there may be an adverse effect on our business, financial condition and operations.</li><li>We are significantly dependent on imports of plastic granules being primary packing material and are to that extent exposed to risks including duties placed on imports from other countries or regulatory or market concerns regarding materials sourced from such countries, fluctuations in global commodity prices, and foreign currency exchange fluctuations.</li><li>We operate in a market that is highly competitive. If we are unable to respond adequately to the increased competition or pricing pressure we expect to face, we could lose market share and our revenues and profits could decline, which could adversely affect our business.</li><li>Certain portion of our revenue amounting to 9,083.09 lakhs, 8,217.14 lakhs and 8,018.51 lakhs for the Financial Years ended 2025, 2024 and 2023 respectively which aggregates to 33.06%, 29.31% and 30.94% of our revenue of operations for the Financial Years ended 2025, 2024 and 2023 is being generated through exports hence our international business exposes us to complex management, legal and economic risks, which could adversely affect our business, results of operations and financial condition.</li><li>Our Company is involved in certain legal and regulatory proceedings. Any adverse decision in such proceedings may have a material adverse effect on our business, financial condition, cash flows and results of operations.</li><li>The pharmaceutical market is subject to extensive regulation and failures to comply with the existing and future regulatory requirements in any pharmaceutical market could expose us to litigation or other liabilities, which could adversely affect our reputation, business, financial condition and results of operations.</li><li>Our Company may not be successful in penetrating new markets. If we are unable to do so and implement our business objectives effectively, our business, financial condition and results of operations may be adversely affected.</li><li>We derive a significant part of our revenue from few customers. If one or more of such customers choose not to source their requirements from us or to terminate our contracts or purchase orders, our business, cash flows, financial condition and results of operations may be adversely affected.</li><li>We are dependent on a number of key personnel, including our Promoters and senior management, and the loss of, or our inability to hire, retain, train, and motivate qualified personnel could adversely affect our business, results of operations and financial condition.</li><li>We are exposed to foreign currency fluctuation risks, particularly in relation to import of raw materials and export of products, which may adversely affect our results of operations, financial condition and cash flows.</li><li>Our manufacturing facility are subject to periodic inspections and audits by regulatory authorities and clients. We may be subject to regulatory action which may have an adverse effect on our business, results of operations, financial condition and cash flows.</li><li>Our Company has a high debt to equity ratio which denote our significant outstanding debt and financial obligations and our inability to meet our financial obligations may limit our ability to pursue our business and could adversely affect our business, financial condition, results of operations and cash flows.</li><li>We have certain contingent liabilities that have not been provided for in our financial statements, which if they materialize, may adversely affect our financial condition.</li><li>Our success depends on our ability to develop and commercialize new products in a timely manner. If our formulation and development efforts do not succeed or the products we commercialize do not perform as expected, this may hinder the introduction of new products, new markets and could adversely affect our business, financial condition and results of operations.</li><li>We have in the past entered into related party transactions and may continue to do so in the future.</li><li>We have witnessed fluctuating profit after tax in the past and this may not improve in the future.</li><li>We have been subject to regulatory inspections in relation to our plant and operations such as FDA inspections in the past which have resulted in observations against our Company. In case of failure to comply with relevant regulatory requirements or quality control standards in regard to such observations, we may be subject to certain regulatory actions, which may affect our revenue from operations, liquidity and overall financial condition.</li><li>Delay/ default in payment of statutory dues may attract penalties and in turn have an adverse impact on our financial condition.</li><li>We have faced high attrition among our employees in the past and our inability to attract and retain employees, key management personnel or the loss of services of our senior management personnel in the future may have an adverse effect on our business, results of operations and financial condition.</li><li>We are susceptible to product liability claims and associated risks of litigation that could expose us to material liabilities, loss in revenues and increased expenses and thus may have a material adverse effect on our business and financial condition. Failure to obtain product liability insurance may result in us being compelled to pay substantial sums.</li><li>Our Company has issued Equity Shares during the last twelve months at a price which may be lower than the Issue Price.</li><li>The pharmaceutical industry is a highly regulated and is subject to government regulations. If we are unable to manage the risks faced by factors such as change in government regulations, our revenues and profits could decline, which could adversely affect our business.</li><li>We have in the past entered into settlement agreement with our lenders.</li><li>We have faced losses in the past and cannot assure you that we will not incur losses in the future.</li><li>Our Company owes certain dues to creditors, any delays or defaults in payment of such dues could adversely affect our business, results of operations, financial condition and cash flows.</li><li>We intend to utilise the Net Proceeds for funding our capital expenditure requirements which aggregates to ? 10,013.11 Lakhs and we are yet to place orders for majority of our capital expenditure requirements. There is no assurance that we would be able to source such capital expenditure requirements in a timely manner or at commercially acceptable prices.</li><li>Our Promoter Bhavesh Patel and his spouse Manisha Patel (member of Promoter Group) have provided personal guarantee for certain borrowing obtained by our Company and any failure or default by our Company to repay such loans could trigger repayment obligations on our Promoter and his wife which may impact their ability to effectively service their obligations and thereby, adversely impact our business and operations.</li><li>Our Company has availed unsecured borrowings from bank (which is guaranteed by director's property) and members of the Company.</li><li>Any delays in the schedule of implementation of our proposed objects could have an adverse impact on our business, financial condition and results of operations.</li><li>Our insurance coverage may not be sufficient or adequate to cover our losses and liabilities. If we suffer a large uninsured loss or an insured loss that significantly exceeds our insurance coverage, our business, results of operations, financial condition and cash flows may be adversely affected.</li><li>Our inability to meet our obligations, including financial and other covenants under our debt financing arrangements could adversely affect our business, financial condition, cash flows and results of operations.</li><li>Our Promoters, certain of our Directors, Key Managerial Personnel and Senior Managerial Personnel may have interests other than reimbursement of expenses incurred and normal remuneration or benefits.</li><li>We may face difficulties in executing our strategies including our expansion plans.</li><li>Our inability to accurately forecast demand for our products and manage our inventory may have an adverse effect on our business, results of operations, financial condition and cash flows.</li><li>Reforms in the healthcare industry and the uncertainty associated with pharmaceutical pricing, reimbursement and related matters could adversely affect the marketing, pricing and demand for our products.</li><li>Our business, results of operations and financial condition may be adversely affected if we are unable to enhance or maintain our brand image.</li><li>Certain secretarial records and documents filed by us with the Registrar of Companies are not traceable.</li><li>We intend to utilize a portion of the Net Proceeds for funding our capital expenditure requirements for expansion of SteriPort and SVP lines. In the event of any delay in placing the orders, or in the event the vendor is not able to provide the equipment in a timely manner, or at all, it may result in time and cost overruns and our business, prospects and results of operations may be adversely affected.</li><li>Our funding requirements and proposed deployment of the Net Proceeds of the Issue have not been appraised by a bank or a financial institution are based on management estimates and may be subject to change based on various factors, some of which are beyond our control.</li><li>Any variation in the utilization of the Net Proceeds would be subject to certain compliance requirements, including prior Shareholders' approval.</li><li>Information relating to the installed manufacturing capacity, actual production and capacity utilization of our manufacturing facility included in this Red Herring Prospectus are based on various assumptions and estimates and future production and capacity may vary.</li><li>Certain sections of this Red Herring Prospectus contain information from the CRISIL Report which we have commissioned and purchased and any reliance on such information for making an investment decision in the Issue is subject to inherent risks.</li><li>The failure, inadequacy or breach of our information technology systems or our business processes regarding confidential information and other data, unauthorized access to our confidential information or violations of data protection laws could have an adverse effect on our business, results of operations, financial condition and cash flows.</li><li>Certain non-GAAP financial measures and other statistical information relating to our operations and financial performance have been included in this Red Herring Prospectus. These Non-GAAP financial measures are not measures of operating performance or liquidity defined by Ind AS and may not be comparable with those presented by other companies.</li><li>Our Promoters and members of Promoter Group will continue to collectively hold majority of the shareholding in our Company, which will allow them to influence the outcome of matters requiring shareholder approval.</li><li>Our ability to pay dividends in the future will depend on our earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of our financing arrangements.</li></ul>

The Issue type of Amanta Healthcare Ltd is Book Building.

The minimum application for shares of Amanta Healthcare Ltd is 119.

The total shares issue of Amanta Healthcare Ltd is 10000000.

Initial public offering of up to 1,00,00,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of our company for cash at a price of Rs. 126 per equity share (including a Share Premium of Rs. 116 per Equity Share) ("Issue Price") aggregating up to Rs. 126 crores (the "issue") comprising of its post-issue paid-up equity share capital of the company.