Goldline Pharmaceutical
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 19 May 2026 | ₹15 | +34.88% | ₹34,200 | ₹58 | ₹45,000 |
| 18 May 2026 | ₹15 | +34.88% | ₹34,200 | ₹58 | ₹45,000 |
| 17 May 2026 | ₹20 | +46.51% | ₹45,600 | ₹63 | ₹60,000 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 12 May 2026 – 14 May 2026
- Listing date
- 19 May 2026
- Face value
- ₹10 per share
- Price band
- ₹41 – ₹43
- Issue price
- ₹43 per share
- Lot size
- 3,000 shares
- Issue type
- Book Building issue
- Listing at
- BSE
- Total issue size
- ₹11.61 Cr
- Market cap at offer price
- ₹41.28 Cr
- Promoter holding
- 79.70% → 57.29% pre-issue → post-issue
- ISIN
- INE1CLW01015
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Cumulative Capital Pvt.Ltd.
- Registered office
- 103, F-1, Leela Apartment, Shilpa HSG Society, Near Saptagiri Nagar, Shanidham, Narendra Nagar, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 7,32,000 | — | — |
| Market maker | 1,38,000 | — | — |
Application size
Minimum 3,000 shares per lot, in multiples, at ₹43
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,29,000 |
| S-HNI (min) | 2 | 6,000 | ₹2,58,000 |
| S-HNI (max) | 7 | 21,000 | ₹9,03,000 |
| B-HNI (min) | 8 | 24,000 | ₹10,32,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹43 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 4.11 | 3.09 |
| P/E (×) | 10.46 | 13.92 |
| Price to book (×) | 3.47 | — |
| Market cap | — | ₹41.28 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 27.37%
- ROCE
- 38.45%
- Debt / equity
- 1.50
- PAT margin
- 10.09%
- EBITDA margin
- 20.78%
- NAV per share
- ₹12.38
- Price to book
- 3.47
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Goldline Pharmaceutical
Goldline Pharmaceutical Limited was incorporated on August 02, 2004 and converted to a public limited company in 2013. The company operates as a marketing and distribution company in the pharmaceutical sector, offering a diverse portfolio of pharmaceutical products under brand names including Goldline Pharma, Goldline Cardinal, Goldline Aayushman, Goldline InLife, and Goldline Wellness. The company does not undertake in-house manufacturing but instead partners with third-party contract manufacturers who comply with regulatory standards including GMP and CDSCO requirements. The company generates revenue through the distribution of off-patent pharmaceutical formulations approved by regulatory authorities, spanning approximately 142 products across five therapeutic segments.
Company Analysis
from DRHPGoldline Pharmaceutical Limited is a pharmaceutical company engaged in marketing and distribution of branded pharmaceutical products across five segments spanning specialties including cardiovascular, diabetology, pediatrics, critical care, and supportive cancer therapy.
Goldline Pharmaceutical Limited was incorporated on August 02, 2004 and converted to a public limited company in 2013. The company operates as a marketing and distribution company in the pharmaceutical sector, offering a diverse portfolio of pharmaceutical products under brand names including Goldline Pharma, Goldline Cardinal, Goldline Aayushman, Goldline InLife, and Goldline Wellness. The company does not undertake in-house manufacturing but instead partners with third-party contract manufacturers who comply with regulatory standards including GMP and CDSCO requirements. The company generates revenue through the distribution of off-patent pharmaceutical formulations approved by regulatory authorities, spanning approximately 142 products across five therapeutic segments.
Objects of the Issue
- Repayment of all or a portion of certain outstanding borrowings availed by our Company ₹835.45 lakhs p.87
- General corporate purposes ₹170.55 lakhs p.93
Issue Structure
- Total Issue
- ₹1161.00 lakhs (27,00,000 equity shares at ₹43 per share)
- Fresh Issue
- 27,00,000 equity shares aggregating to ₹1161.00 lakhs
- Offer for Sale
- Not Applicable
- Price Band
- ₹41 to ₹43 per equity share
- Lot Size
- 3,000 equity shares and multiples thereof
- Face Value
- ₹10 per equity share
Business Model
The company operates an asset-light, third-party contract manufacturing model. Goldline Pharmaceutical selects off-patent formulations already approved by CDSCO and other regulatory authorities, contracts with third-party manufacturers (currently 15 manufacturers) for production of these formulations, and distributes the finished products through its network of 8 distributors who handle marketing and sales. The company derives revenue through distributor sales on a commission basis.
Business Segments
SWOT Analysis
- • Established distribution network across key regions(p.26)
- • Diverse product portfolio across multiple specialties(p.24)
- • Experienced promoters with track record(p.92)
- • Asset-light business model(p.92)
- • Strong supplier relationships(p.92)
- • Profitable operations with improving margins(p.95)
- • Complete dependence on third-party contract manufacturers(p.17)
- • High customer concentration risk(p.26)
- • History of late GST and statutory filings with penalties(p.25)
- • Delayed RoC filings with penalties incurred(p.20)
- • Missing historical bank statements for old allotments(p.33)
- • Unrecognized MSME interest liabilities(p.36)
- • Negative operating cash flows in prior years(p.31)
- • Dependence on Promoter Group entities for distribution(p.31)
- • Pending trademark objections(p.32)
- • Unregistered brand names and logos(p.32)
- • Operating from leased premises without ownership(p.39)
- • Unsecured and recallable loans outstanding(p.44)
- • Expanding geographic presence across India(p.30)
- • Growing Indian pharmaceutical market(p.116)
- • Increasing rural healthcare penetration(p.122)
- • Rising chronic disease prevalence requiring specialty drugs(p.123)
- • Government support for pharmaceutical sector(p.119)
- • Growing demand for specialty and high-end drugs(p.122)
- • Digital health and telemedicine expansion(p.120)
- • Contract manufacturer dependency and reliability(p.18)
- • Regulatory compliance and licensing risks(p.34)
- • Intense competition in pharmaceutical sector(p.42)
- • Price pressure from competitors and regulators(p.122)
- • Changing regulatory environment and drug pricing policies(p.43)
- • Supply chain disruption risks(p.35)
- • Economic downturn and reduced consumer spending(p.52)
- • Geopolitical risks affecting global supply chains(p.53)
- • Natural calamities impacting business(p.52)
- • Terrorism and civil unrest(p.53)
- • Political instability and policy changes(p.52)
- • Product liability and recall risks(p.41)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Amol Laxmikant Mujumdar | Promoter | 39.85% | 28.65% |
| Swapan Premprakash Khandelwal | Promoter | 39.85% | 28.65% |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.