Claroid Pharmaceuticals Limited (CPL) has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI).
CPL is a Gujarat-based pharmaceutical formulations manufacturing and export company headquartered in Ahmedabad. It is engaged in the development and manufacture of generic pharmaceutical products, including tablets, hard gelatin capsules and ointments, with a primary focus on exports to semi-regulated international markets, particularly Africa.
CPL proposes to raise funds through an Initial Public Offering comprising a Fresh Issue of up to 74,50,000 Equity Shares and an Offer for Sale of up to 51,50,000 Equity Shares, aggregating to a total Offer of up to 1,26,00,000 Equity Shares. The face value of each Equity Share is ₹10.
The Net Proceeds from the Fresh Issue are proposed to be utilised towards funding the capital expenditure requirement for setting up a new manufacturing facility for injectable, ampoule, vial, dry powder, pre-filled syringe and eye drop products at the company’s existing land. The proposed plant is estimated to involve a cost of approximately ₹16,796.78 Lakhs (₹167.96 crore) and is proposed to have an installed capacity of 15,00,000 units per month.
CPL operates a pharmaceutical manufacturing facility at Pirana, Ahmedabad, spread across approximately 12,332 square metres. The facility manufactures tablets, capsules and ointments and has an effective annual manufacturing capacity of 14,400 lakh tablets, 9,360 lakh capsules and 120 lakh ointment tubes.
As of the date of the DRHP, the company has developed 129 pharmaceutical formulations across therapeutic segments including anti-infective, anti-inflammatory, anti-fungal, dermatology, pain management and gastrointestinal therapies, comprising 66 tablets, 27 capsules and 36 ointments. Its business is supported by a network of more than 30 distributors across Africa.
CPL has established an export presence across international markets, with Nigeria being its largest export destination. Its presence also extends to Tanzania, Kenya, Myanmar, Zanzibar and Botswana. Revenue from Operations increased from ₹6,299.84 Lakhs (₹62.98 crore) in FY2024 to ₹16,971.53 (₹169.71 crore) lakhs in FY2026 with a CAGR of 64.13%.
CPL also holds GMP certifications from regulatory authorities in Rwanda, Ghana, Tanzania and Zanzibar and has an in-house formulation and development facility along with quality control, quality assurance and microbiology laboratories.
Oneview Corporate Advisors Private Limited and Valmiki Leela Capital Private Limited are the Book Running Lead Managers to the Offer.
