Bio Medica Laboratories IPO
smelistedAbout the company
Bio Medica Laboratories is involved in the manufacturing of pharmaceutical formulations through parenteral injections. This includes the manufacturing of generic drugs through injection in both single and multidose types for both humans and animals. The company operates purely on a B2B contractual manufacturing base. There are two main classifications under which the company offers its products. There are 58 liquid injectable formulations and 15 dry powder injectable formulations offered by the company. The business earns income from two major sources, including sales of manufactured goods and the sales of trading goods. Third-party manufacturing is the main source of earning for the company. In FY25, third-party manufacturing earned the company ₹33.28 crore as against the total revenue of ₹38.20 crore, whereas in the case of products, the contribution was ₹24.43 crore for liquid injection and ₹13.42 crore for dry powder injection. The company also saw growth in veterinary medicines, where revenue rose steeply from ₹0.33 crore in FY24 to ₹4.42 crore in FY25. There are two production plants which are situated in Indore, Madhya Pradesh. The top 10 customers have contributed 76.45% of revenue from the operation ended on November 30, 2025, where the largest customer contributed 30.56%. The top ten suppliers have contributed 77.9% of total purchases, while the largest supplier has contributed 58.1% of total purchases as on November 30, 2025.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 25 May | ₹0 | ₹139 | 0 |
| 24 May | ₹0 | ₹139 | 0 |
| 23 May | ₹0 | ₹139 | 0 |
| 22 May | ₹0 | ₹139 | 0 |
| 21 May | ₹0 | ₹139 | 0 |
| 20 May | ₹0 | ₹139 | 0 |
| 19 May | ₹0 | ₹139 | 0 |
| 18 May | ₹0 | ₹139 | 0 |
Strengths
- Operates in the pharmaceutical injectable formulations segment
- Manufactures liquid injections and dry powder injections for human and veterinary use
- Strong growth in revenue and profitability in recent years
- Healthy EBITDA and PAT margins
- Diversified product portfolio across ethical, generic, and OTC medicines
- GMP-certified manufacturing operations
- Supplies products across multiple Indian states
- Experienced promoters and management team
- IPO proceeds planned for manufacturing expansion and debt reduction
- Valuation appears relatively reasonable compared to sector peers
Risks
- SME IPOs carry high volatility and liquidity risk
- Pharmaceutical sector faces strict regulatory and compliance requirements
- Dependence on limited key clients may impact revenue concentration
- Quality control issues can affect brand reputation and operations
- Debt-to-equity ratio remains relatively elevated
- High competition in injectable pharmaceutical market
- Sustained negative cash flow history may impact future growth
- Dependence on a single manufacturing location increases operational risk
- Regulatory non-compliance history may remain a concern
- Large minimum investment size increases retail investor risk
Financial performance (₹ Cr)
IPO Roadmap / Timeline
IPO Opens
Completed21 May 2026Bidding starts for all investor categories
IPO Closes
Completed25 May 2026Last day to place your bid
Basis of Allotment
Completed26 May 2026Share allotment finalised
Refund Initiation
Completed27 May 2026Refunds credited for non-allottees
Credit to Demat
Completed27 May 2026Allotted shares credited to demat account
Listing on Exchange
Completed29 May 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 1000 | ₹139,000 | 1 | ₹139,000 | 1 lot only |
| HNI | 2 | 2000 | ₹278,000 | 2 | ₹278,000 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 1,918,819 | 26 | 0 | 0.00x | 100% |
| NII | 15% | 575,646 | 7.8 | 0 | 0.00x | 100% |
| Retail | 35% | 1,343,173 | 18.2 | 0 | 0.00x | 100% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
