Veeda Clinical Research Limited IPO

Veeda Clinical Research has filed a draught red herring prospectus (DRHP) with SEBI in order to seek funds through an IPO. The fresh issuance would consist of up to Rs 331.60 crore in new equity shares and a Rs 500 crore offer for sale (OFS) by the founders and current shareholders.CX Alternative Investment Fund may invest up to Rs 8.08 crore, Arabelle Financial Services Limited may invest up to Rs 90.19 crore, Bondway Investment Inc. may invest up to Rs 259.77 crore, Stevey International Corporation may invest up to Rs 0.04 crore, and Basil Private Limited may invest up to Rs 141.93 crore in the OFS. The issue's book running lead managers are SBI Capital Markets Limited, ICICI Securities Limited, JM Financial Limited, and Systematix Corporate Services Limited.

Opening Date

To be announced

Closing Date

To be announced

Price Band

To be announced

Issue Size

To be announced

Face Value

To be announced

Market Lot

To be announced

Opening Date

To be announced

Closing Date

To be announced

Price Band

To be announced

Issue Size

To be announced

Face Value

To be announced

Market Lot

To be announced

Listing at NSE, BSE

Veeda Clinical Research Limited IPO Important Dates

IPO Open Date To be announced
IPO Close Date To be announced
Allotment Date To be announced
Initiation Of Refunds To be announced
Credit Of Shares To
Demat Account
To be announced
IPO Listing Date To be announced
UPI Mandate Expiry Date To be announced

View all upcoming IPOs

About Veeda Clinical Research Limited

Veeda Clinical Research Limited provides a wide range of services to clients in North America, Europe, and Asia, covering most parts of the drug development and launch value chain. Specialized in bioanalytical services, such as bioavailability and bioequivalence ("BA & BE") investigations, as well as a comprehensive suite of clinical trials, including pre-clinical, early phase, and late phase clinical trials, as well as associated services, are available. They have experience in pharmacokinetics ("PK") studies as well as generic, novel chemical entities ("NCEs"), big molecules, and biosimilars trials. As of March 31, 2021, they have expanded from a single facility in Ahmedabad with a total capacity of 62 beds and a monthly capacity of 7,000 samples to four facilities in Ahmedabad and one in Mehsana with a total capacity of 532 beds and a monthly capacity of 100,000 samples. They currently have pre-clinical trial capabilities with two facilities in Bangalore, each with 99 distinct experiment rooms tailored to international standards and self-contained chemistry, biopharmaceutical, and analytical laboratories.

Veeda Clinical Research Limited IPO Objectives

Here are a few quick reasons why Veeda Clinical Research Limited going public:

- Repayment/prepayment of certain indebtedness (including accrued interest) availed by our Subsidiary,Bioneeds.
- Funding capital expenditure requirements of the Company.
- Investment in the Subsidiary, Bioneeds for financing capital expenditure requirements.
- Funding further acquisition of equity shares of Bioneeds.
- Investment in the Joint Venture, Ingenuity BioSciences Private Limited through acquisition of equityshares.
- Funding working capital requirements of the Company.

Why should you invest in Veeda Clinical Research Limited IPO?

  • One of the largest independent full-service CROs in India with recent Increase in their presence across regulated markets in the US and the EU.
  • Indian CRO market captures about 3% of the global market share by value, estimated at USD 2 Bn in 2021 and is expected to be the fastest growing market with a CAGR of about 12% from 2021 to 2026.

Financial Highlights

Particulars (in Rs. Crores) FY21 FY20 FY19
Revenue 19.58 15.13 21.84
EBITDA 6.67 1.94 8.82
PAT 6.33 0.00 4.42
EPS (basic in Rs.) 15.39 -0.01 12.17
ROE 37.16% -0.05% 50.20%
ROCE 26.72% 3.42% 75.94%
Cash generated from operating activities 7.66 0.91 8.20
Net cash from investing activities -9.26 -0.90 -0.93
Net cash flow from financing activities 1.71 -0.34 -6.14
Net increase in cash and cash equivalents 0.11 -0.33 1.13

How to apply for Veeda Clinical Research Limited IPO?

There are two simple processes through which any new investors can start their trading journey. One is through UPI, and the other is with the help of a Demat account. The processes are discussed below:

UPI

  • Step 1: Open your bank account and link a UPI ID with it.
  • Step 2: Once your Demat account is all set, link your UPI ID with it.
  • Step 3: Subscribe for Delhiivery IPO and accept the payment request on your UPI ID.

Demat Account

Veeda Clinical Research Limited IPO - Noteworthy Highlights

  • For Fiscal 2021, the company performed research for 157 customers, including some of the worlds largest and astest growing pharmaceutical firms.
  • By combining their previous experience, knowledge of the worldwide pharma business and significant scientific expertise, they are one of the leaders in providing clinical research services to their global clients in 27 countries across Europe, Asia and North America in an efficient and safe manner.
  • The company has built 45 Bioanalytical systems throughout the facilities to help them provide effective bioanalytical services, with a monthly processing capacity of 100,000 samples.

The Brand’s Pros & Cons:

Pros Cons
Veeda Clinical Research Limited is One of India's largest independent full-service CROs. It failed to provide services in compliance with contractual obligations, regulatory regulations, and ethical concerns.
Extensive scientific expertise to serve a worldwide clientele while maintaining a high level of customer centricity and satisfaction. Contract pricing pressures, whether as a result of increasing competition, change in demand for services, or other factors.
Continuous investments in technology-driven CRO solutions to improve operational efficiency and compliance management. Keeping up with the latest outsourcing trends in the pharmaceutical and biopharmaceutical industries has an impact on overall expenditure and R&D budgets.
With a successful track record of strong compliance culture and a consistent track record of solid financial performance. A number of risks may be linked with the purchase of Bioneeds, including risks from change of control terms in any of company's contracts, legal issues & risks related with restructuring activities.

Competitive Analysis: Market Peers

Not available

Veeda Clinical Research Limited IPO FAQs

What is Veeda Clinical Research Limited IPO?

Veeda Clinical Research Limited IPO consists of The fresh issue will comprise of fresh equity shares worth up to Rs 331.60 crore and an offer for sale (OFS) of Rs 500 crore by the promoters and existing shareholders.

When will the Veeda Clinical Research Limited IPO allotment be available?

Details are not available.

What will be the Veeda Clinical Research Limited IPO lot size?

Details are not available.

When will Veeda Clinical Research Limited IPO open for subscription?

Details are not available.

What minimum lot size can retail investors subscribe to?

Retail investors need to apply for a minimum of one lot.

When will Veeda Clinical Research Limited IPO list on exchanges?

Details are not available. Usually, it takes ten working days from the last day of subscription to finally list the IPOs on the stock exchanges.

How to check the allotment status of Veeda Clinical Research Limited IPO?

To check the allotment status of Healthium Medtech IPO, Angel One investors can log in to their account.

What is the size of Veeda Clinical Research Limited IPO?

Details are not available.

How will I receive shares?

Your shares will get credited directly to your Demat account.

Is it necessary to approve a UPI mandate request immediately?

Approving the UPI payment is the final step of the IPO application. You will get T+1 days to approve the payment mandate in your UPI id.

How to apply for this Veeda Clinical Research Limited IPO via the Angel One App?

Follow the simple steps below:
  • Log in to your account
  • Select Healthium Medtech from the Active IPO list
  • Click 'Apply'
  • Complete the bidding process and make payment through UPI
  • Approve payment mandate on your UPI handle

What is the minimum order quantity for Veeda Clinical Research Limited IPO?

Details are not available.

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