Amanta Healthcare Ltd., a pharmaceutical manufacturer specializing in sterile liquid formulations, has opened its initial public offering (IPO) to raise ₹126 crore. The book-built issue, comprising a fresh sale of 1 crore shares, opened on September 1, 2025 and will close on September 3, 2025, with a tentative listing on both the BSE and NSE set for September 9, 2025. With a price band of ₹120–₹126 per share, the issue is drawing attention from investors eager to tap into India’s expanding healthcare and pharmaceutical sector.
Company Background
Founded in 1994, Amanta Healthcare has established itself as a specialist in parenteral products, manufacturing intravenous (IV) fluids, diluents, ophthalmic solutions, respiratory care products, and irrigation solutions. The company employs advanced packaging technologies such as Aseptic Blow-Fill-Seal (ABFS) and Injection Stretch Blow Moulding (ISBM), which enhance efficiency and product safety. With a workforce of 1,718 employees, Amanta maintains a broad presence both domestically and abroad. Its international sales extend across Africa, Latin America, and the UK, with products registered in 19 countries. In FY 2025, the company exported to 21 countries, reflecting its growing global footprint.
IPO Details
The IPO consists entirely of fresh equity, which will expand the post-issue shareholding base from 2.88 crore shares to 3.88 crore shares. At the upper price band, Amanta Healthcare’s estimated market capitalization stands at ₹489 crore. The issue has allocated 50% to qualified institutional buyers (QIBs), 15% to non-institutional investors (NIIs), and 35% to retail investors. Anchor investors subscribed to 30 lakh shares on August 29, 2025, raising ₹37.8 crore ahead of the main offer. Beeline Capital Advisors Pvt. Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. serves as registrar.
For retail investors, the minimum application size is 119 shares, amounting to ₹14,994, while high-net-worth individuals (HNIs) have higher entry thresholds. Promoter holdings will decline from 85.6% pre-issue to 63.56% post-issue, signaling a meaningful dilution to broaden investor participation.
Market Context & Opportunities
India’s pharmaceutical sector continues to enjoy strong demand, driven by rising healthcare awareness, exports, and government support for generics manufacturing. Amanta’s focus on IV fluids and sterile solutions positions it well in a growing niche, particularly as hospitals, clinics, and international buyers seek cost-efficient, high-quality products. The company’s financials show resilience: while FY 2025 revenue dipped slightly by 2% to ₹276 crore, profit after tax surged 189% year-on-year to ₹10.5 crore, reflecting improving efficiency and profitability.
Risks & Challenges
Despite its strengths, Amanta faces challenges. Its debt-to-equity ratio of 2.02 highlights reliance on borrowings, which could constrain financial flexibility. Intense competition in the generics and IV fluids space, regulatory scrutiny in multiple geographies, and margin pressures from raw material costs remain notable risks. Sustaining export momentum amid fluctuating global demand will also be critical.
Closing
The Amanta Healthcare IPO offers investors exposure to a mid-sized pharmaceutical player with expanding international reach and improving margins. Whether it secures strong demand and delivers post-listing gains will depend on investor confidence in India’s healthcare growth story and the company’s ability to balance leverage with sustainable profitability.
