Vijaypd Ceutical
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 |
|---|---|---|---|---|---|
| 07 Oct 2025 | ₹0 | 0.00% | ₹0 | ₹35 | ₹0 |
| 06 Oct 2025 | ₹0 | 0.00% | ₹0 | ₹35 | ₹0 |
| 05 Oct 2025 | ₹0 | 0.00% | ₹0 | ₹35 | ₹0 |
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
- 29 Sept 2025 – 01 Oct 2025
- Listing date
- 07 Oct 2025
- Face value
- ₹10 per share
- Issue price
- ₹35 per share
- Lot size
- 4,000 shares
- Issue type
- Fixed Price issue
- Listing at
- NSE
- Total issue size
- ₹19.25 Cr
- Promoter holding
- 78.30% → 56.25% pre-issue → post-issue
- ISIN
- INE0WL901019
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Smart Horizon Capital Advisors Pvt.Ltd.
- Registered office
- A/1, 1st Floor, Devraj Premises, CHSL, Goregaon West, 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 | 0 | — | — |
| Market maker | 2,84,000 | — | — |
Application size
Minimum 4,000 shares per lot, in multiples, at ₹35
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 4,000 | ₹1,40,000 |
| S-HNI (min) | 2 | 8,000 | ₹2,80,000 |
| S-HNI (max) | 7 | 28,000 | ₹9,80,000 |
| B-HNI (min) | 8 | 32,000 | ₹11,20,000 |
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
₹35 per share
| Metric | Pre-issue | Post-issue |
|---|
Key performance indicators
Latest reported period
- Return on net worth
- 14.91%
- ROCE
- 17.30%
- Debt / equity
- 0.68
- PAT margin
- 4.49%
- EBITDA margin
- 8.04%
- NAV per share
- ₹25.78
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Vijaypd Ceutical
Vijaypd Ceutical Limited traces its origins to the partnership firm 'M/s. Vijay Pharma' formed on October 05, 1971, which was converted into a public limited company under Chapter XXI of the Companies Act, 2013 vide Certificate of Incorporation dated March 19, 2024 (CIN: U21001MH2024PLC421713). In April 2024, the company acquired the ongoing business of the partnership firm M/s. P.D. Doshi on a going-concern basis via a Business Transfer Agreement dated April 01, 2024. The company offers a wide range of products serving both the pharmaceutical and wellness industries as well as the FMCG market: medicines such as injections, tablets, capsules, ointments, suppositories, ophthalmic preparations and liquid oral formulations; vitamins, hormones, enzymes, wellness tonics, serums and diagnostic test kits; personal care and toiletry products including soaps, sanitizers and baby care items; and ayurvedic products, cosmetics, food products, dental products and crude drugs. It earns revenue by purchasing finished products (cost of purchases was 88.07%-91.06% of revenue in FY2023-FY2025) largely from domestic suppliers/manufacturers and supplying them to retail pharmacies, nursing homes and healthcare clinics concentrated in Mumbai and other regions of Maharashtra, supported by three warehouses in Mumbai Suburban; in FY2025 it served 2,109 customers and reported revenue from operations of ₹ 11,709.79 Lakhs and profit after tax of ₹ 479.55 Lakhs. Through the IPO, the company proposes to fund construction of a Pharmaceutical API/Intermediates and Chemicals manufacturing plant at MIDC Shrirampur, Ahmednagar, Maharashtra, marking a planned entry into manufacturing, along with repayment/prepayment of borrowings.
Company Analysis
from DRHPVijaypd Ceutical Limited is engaged in the distribution and supply of pharmaceutical, wellness and fast-moving consumer goods (FMCG) products in India, acting as representatives, dealers, agents, stockists, suppliers, traders and packers.
Vijaypd Ceutical Limited traces its origins to the partnership firm 'M/s. Vijay Pharma' formed on October 05, 1971, which was converted into a public limited company under Chapter XXI of the Companies Act, 2013 vide Certificate of Incorporation dated March 19, 2024 (CIN: U21001MH2024PLC421713). In April 2024, the company acquired the ongoing business of the partnership firm M/s. P.D. Doshi on a going-concern basis via a Business Transfer Agreement dated April 01, 2024. The company offers a wide range of products serving both the pharmaceutical and wellness industries as well as the FMCG market: medicines such as injections, tablets, capsules, ointments, suppositories, ophthalmic preparations and liquid oral formulations; vitamins, hormones, enzymes, wellness tonics, serums and diagnostic test kits; personal care and toiletry products including soaps, sanitizers and baby care items; and ayurvedic products, cosmetics, food products, dental products and crude drugs. It earns revenue by purchasing finished products (cost of purchases was 88.07%-91.06% of revenue in FY2023-FY2025) largely from domestic suppliers/manufacturers and supplying them to retail pharmacies, nursing homes and healthcare clinics concentrated in Mumbai and other regions of Maharashtra, supported by three warehouses in Mumbai Suburban; in FY2025 it served 2,109 customers and reported revenue from operations of ₹ 11,709.79 Lakhs and profit after tax of ₹ 479.55 Lakhs. Through the IPO, the company proposes to fund construction of a Pharmaceutical API/Intermediates and Chemicals manufacturing plant at MIDC Shrirampur, Ahmednagar, Maharashtra, marking a planned entry into manufacturing, along with repayment/prepayment of borrowings.
Objects of the Issue
- Funding of capital expenditure requirements towards the construction of Pharmaceutical API/Intermediates and Chemicals manufacturing plant and purchase of new machineries in MIDC – Shrirampur, Ahmednagar, Maharashtra ₹ 1,082.83 Lakhs p.88
- Repayment/prepayment of all or certain of our borrowings availed of by our Company ₹ 510.00 Lakhs p.98
- General corporate purposes p.98
Issue Structure
- Total Issue
- 55,00,000 Equity Shares aggregating to ₹ 1,925.00 Lakhs
- Fresh Issue
- 55,00,000 Equity Shares aggregating to ₹ 1,925.00 Lakhs
- Price Band
- Not applicable — 100% Fixed Price Issue at ₹ 35/- per Equity Share (including share premium of ₹ 25/- per Equity Share)
- Lot Size
- 4,000 Equity Shares and in multiples of 4,000 thereafter
- Face Value
- ₹ 10/- each
Business Model
The company earns revenue from trading/distribution margins: it procures finished pharmaceutical, wellness and FMCG products (mainly from domestic suppliers, without long-term supply agreements) and supplies them to retail pharmacies, nursing homes and healthcare clinics primarily in Mumbai and Maharashtra, acting as dealers, agents, stockists, suppliers, traders and packers; it currently does not manufacture the products it sells (purchases of stock-in-trade represented 88.07%-91.06% of revenue in FY2023-FY2025).
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Vasanti Dhirendra Shah | Promoter | 22.93% | 16.47% |
| Dina Madhukar Shah | Promoter | 11.97% | 8.60% |
| Bhavin Dhirendra Shah | Promoter | 11.66% | 8.38% |
| Narendra Nagindas Shah | Promoter | 11.34% | 8.14% |
| Hemanti Jitendra Shah | Promoter | 7.57% | 5.44% |
| Samit Madhukar Shah | Promoter | 6.29% | 4.52% |
| Rahul Jitendra Shah | Promoter | 0.00% | 0.00% |
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.