Accretion Pharmaceuticals Ltd Launches IPO to Boost Expansion

Accretion Pharmaceuticals Ltd kicked off its initial public offering (IPO) on Wednesday, setting a target to raise nearly Rs 30 crore. The IPO, which is open until May 16, is priced within the band of Rs 96 and Rs 101 per share, according to a company statement.

The pharmaceutical firm plans to allocate Rs 2.69 crore from the IPO proceeds for acquiring new machinery and equipment, while Rs 4.65 crore will go towards upgrading its current manufacturing facility in Ahmedabad. Additionally, Rs 99.17 lakh has been earmarked for settling outstanding debts.

The remaining Rs 14.68 crore will support working capital needs, with any surplus used for general corporate purposes. The company reported improved financials for the first nine months of FY2025, with revenue reaching Rs 35.66 crore and a profit after tax of Rs 5.23 crore. Accretion Pharmaceuticals had previously secured Rs 2.13 crore from institutional investors during the anchor round.

(With inputs from agencies.)