Anondita Medicare IPO is a book-built issue with a total size of ₹69.50 crore. The issue is entirely a fresh issue, consisting of 0.48 crore equity shares. The IPO will open for subscription on August 22, 2025, and will close on August 26, 2025.
The basis of allotment for the IPO is expected to be finalised on August 28, 2025. Following this, the shares are proposed to be listed on NSE SME, with a tentative listing date set for September 1, 2025. The price band of the Anondita Medicare IPO has been fixed between ₹137 and ₹145 per share.
The lot size for application is 1,000 shares. For retail investors, the minimum investment requirement is ₹2,74,000, which accounts for 2,000 shares. For high net-worth individuals (HNIs), the minimum application is 3 lots, translating to 3,000 shares and requiring an investment of ₹4,35,000.
Narnolia Financial Services Limited is acting as the book-running lead manager for this IPO, while Maashitla Securities Private Limited is the registrar. The market maker of the issue is Mansi Share & Stock Broking Private Limited.
Industry Outlook
- The global condom market, valued at $14.3 billion in 2025, is projected to almost double and reach $30.6 billion by 2034, growing at a steady CAGR of 8.6%. This rise is supported by higher awareness of sexual health, government-backed safe sex initiatives, and demand for premium products.
- The Indian condom market has shown stronger momentum, growing 8.4% year-on-year to reach USD 245 million in 2024, and is expected to touch USD 410 million by 2030 at a CAGR of 8.9%. This growth pace is above global averages, driven by changing social attitudes, wider distribution, and stronger health campaigns.
- India contributes about 2.8% of the global market by value but nearly 15% by volume, highlighting the country’s price-sensitive nature and the significant role of affordable contraception in meeting public health objectives.
Anondita Medicare IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- The company plans to allocate funds towards purchasing new equipment and machinery to strengthen operations.
- Funds will also be used to meet the company’s working capital needs and support smooth business activities.
- The remaining funds will be deployed for general corporate purposes.
About Anondita Medicare Limited
Anondita Medicare Limited was incorporated as a Public Limited Company on March 12, 2024, under the Companies Act, 2013. Before its incorporation, the business was managed by its promoter, Mr. Anupam Ghosh, as a sole proprietorship under the name M/s Anondita Healthcare, formerly known as M/s Healthcare Products. The running business, including all assets and liabilities, was transferred to Anondita Medicare Limited through a Business Transfer Agreement dated April 01, 2024.
The company is primarily engaged in the manufacturing of male condoms under its flagship brand “Cobra.” The Cobra range includes a variety of flavours such as Strawberry, Mint, Chocolate, Butterscotch, Coffee, and Bubblegum, with export-quality packaging designed to appeal to diverse consumer preferences.
The company has also ventured into the production of female condoms, encouraged by strong demand and consumer acceptance. Anondita Medicare Limited operates a modern manufacturing facility at Sector 80, Noida, Uttar Pradesh, spread across approximately 1,00,000 square feet.
The plant runs 11 manufacturing lines with advanced machinery, each equipped with around 1,100 moulds capable of producing approximately 12,100 condoms in just three minutes at full capacity. The company’s installed production capacity stands at nearly 562 million condoms per annum, as per certification by a Chartered Engineer dated June 4, 2025.
Sustainability is integrated into operations with the use of CNG as a cleaner and environmentally friendly fuel. With stringent quality controls and state-of-the-art facilities, Anondita Medicare Limited ensures products that meet international standards while catering to both domestic and export markets.
How To Check the Allotment Status of Anondita Medicare IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for the Anondita Medicare IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Anondita Medicare IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Anondita Medicare IPO
Registered office: Flat No.704 Narmada Block, N6, Sec-D, Pkt-6 Vasant Kunj, New Delhi, India-110070.
Phone: 0120-4520300/+91 7678182056
E-mail:info@anonditamedicare.com
Anondita Medicare IPO Reservation
|
Investor Category |
Shares Offered |
|
Market Maker Shares |
2,70,000 (5.63%) |
|
QIB Shares |
22,56,000 (47.07%) |
|
NII (HNI) Shares |
6,81,000 (14.21%) |
|
Retail Shares |
15,86,000 (33.09%) |
|
Total Shares |
47,93,000 (100.00%) |
Anondita Medicare IPO Lot Size Details
|
Application |
Lots |
Shares |
Amount |
|
Individual investors (Retail) (Min) |
2 |
2,000 |
₹2,74,000 |
|
Individual investors (Retail) (Max) |
2 |
2,000 |
₹2,90,000 |
|
S-HNI (Min) |
3 |
3,000 |
₹4,35,000 |
|
S-HNI (Max) |
6 |
6,000 |
₹8,70,000 |
|
B-HNI (Min) |
7 |
7,000 |
₹10,15,000 |
Anondita Medicare IPO Promoter Holding
The promoters of the company include Mr. Anupam Ghosh, Mrs. Sonia Ghosh and Mr. Reshant Ghosh.
|
Share Holding Pre-Issue |
83.95% |
|
Share Holding Post Issue |
61.71% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Anondita Medicare IPO Anchor Investors Details
|
Particulars |
Details |
|
Anchor Investor Bid Date |
August 21, 2025 |
|
Total Shares Allocated |
13,50,000 |
|
Anchor Portion (₹ in Crores) |
19.58 |
|
Lock-in End Date for 50% of Shares (30 Days) |
September 27, 2025 |
|
Lock-in End Date for Remaining Shares (90 Days) |
November 26, 2025 |
Key Performance Indicators for Anondita Medicare IPO
|
KPI |
Value |
|
ROE (%) |
41.71 |
|
RoCE (%) |
37.42 |
|
Debt/Equity |
0.70 |
|
PAT Margin (%) |
21.32 |
|
EBITDA Margin (%) |
33.32 |
Anondita Medicare IPO Prospectus
Anondita Medicare IPO Registrar and Lead Managers
Anondita Medicare IPO Lead Managers
- Narnolia Financial Services Limited
Registrar for Anondita Medicare IPO
Maashitla Securities Private Limited
- Contact Number: +91-11-45121795-96
- Email Address: ipo@maashitla.com
Anondita Medicare IPO Registrar
Financial Performance of Anondita Medicare Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 7699.07 | 4,643.21 |
| Profit/loss After Tax (in ₹ lakh) | 1641.66 | 384.47 |
| Current Ratio (x) | 2.03 | 1.19 |
| Net Worth (in ₹ lakh) | 3786.94 | 1,058.79 |
| Return on Equity (%) | 41.71 | 36.31 |
| Return on Capital Employed (RoCE) (%) | 37.42 | 24.74 |
| EBITDA (in ₹ lakh) | 2565.23 | 909.21 |
Know before investing
Strengths
8Installed annual production capacity of 562 million condoms ensures strong scalability.
Established presence in North India with a well-recognised brand identity.
Export experience in Africa strengthens credibility for future global expansion.
Patent for female condoms opens opportunities in untapped contraceptive segments.
Eleven advanced manufacturing lines enhance efficiency and ensure product consistency.
Use of CNG fuel supports eco-friendly manufacturing and sustainable practices.
Rising demand for condoms driven by growing STD awareness increases market potential.
Divestment of HLL Lifecare creates scope for expanding business opportunities.
Risks
8Negative cash flows from operations, investing and financing may impact growth.
Heavy reliance on top 10 customers increases risk of revenue loss.
Government tenders contribute significant revenue, with strict compliance requirements.
Secured loans of ₹2715.37 lakh and unsecured ₹23.73 lakh increase liability.
Majority of movable and immovable assets remain untransferred to the company's name.
Outstanding litigations could negatively affect business, results of operations and finances.
Revenue dependency on Delhi, Uttar Pradesh and Haryana reached 100% in FY25.
Leased offices shared with promoter companies may disrupt operations if leases end.
Anondita Medicare Limited Peer Comparison
| Company Name | EPS (Basic) | NAV (per share) (₹) | P/E (x) | RoNW (%) |
|---|---|---|---|---|
| Anondita Medicare Limited | 9.60 | 21.32 | - | 38.10 |
| Cupid Limited | 1.52 | 12.75 | 110.38 | 11.96 |
