Multibagger Debut! Medicamen Organics stock debuts with 305% premium on NSE SME platform
Medicamen Organics listed with a premium of 305.44% on the NSE SME platform on Friday. The stock debuted at Rs 137.85, compared with an issue price of Rs 34
Ahead of the listing, the company's shares were trading with a premium of Rs 50 in the unlisted market.
The IPO, which was completely a fresh equity issue of 31 lakh shares, received massive response from investors with an overall subscription of over 900 times.
The net proceeds from the public offer will be used for product registration in the international markets, plant updation and increase in production capacity, working capital requirements and other general corporate purposes.
The company is engaged in developing, manufacturing and distribution of broad range of pharmaceutical dosage including generic dosage in form of tablets, capsules, oral liquids, ointments, gel, syrups, suspension and dry powders for government (including both state and central governments) and private institutions as contract manufacturer and third party manufacturer.
Medicamen markets its product to private pharma companies in domestic as well as international markets through third party distributors or on loan license basis. Further, it is also strategically focusing on establishing a direct presence in the international market.
For instance, in FY23 and FY24, the company has directly exported their products in Burundi. It also has a track record of operating B2B models which covers contract manufacturing models.
According to a recent EY FICCI report, there has been growing
