New IPO Alert: Rodec Pharma files DRHP with SEBI to raise funds via public offer

Rodec Pharma IPO: Veterinary pharmaceutical player Rodec Pharma has filed preliminary papers with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering.

The proposed initial share sale will be an offer for sale (OFS) of 56,50,000 equity shares by promoter Mukesh Kumar Gupta. There will be no fresh issue component.

Since the offer is an OFS, the company will not receive any proceeds from the issue. The money raised will go to the promoter selling shareholder.

"Our company expects that listing of the equity shares will enhance our visibility and brand image as well as provide a public market for the equity shares in India," the firm said in its draft red herring prospectus (DRHP).

Rodec Pharma manufactures animal feed supplements and markets veterinary pharmaceutical drugs and animal feed supplements related to healthcare and nutritional requirements of livestock animals. Its business model integrates production, distribution and marketing, allowing it to effectively reach end-users and expand its presence across multiple geographies.

Its distribution network covers states, including Maharashtra, Uttarakhand, Uttar Pradesh, Haryana, Punjab, Gujarat, Madhya Pradesh, Telangana, Chhattisgarh, Assam, Bihar, Rajasthan, Jharkhand, West Bengal and Himachal Pradesh.

"Since our incorporation in 1997, we have established ourselves as a veterinary pharmaceutical company focused on providing reliable and validated solutions to veterinarians, animal healthcare providers, and livestock farmers," according to the IPO papers.

Khambatta Securities is the issue's book-running lead manager, while Bigshare Services is the registrar. The stock will be listed on the National Stock Exchange (NSE) and the BSE.

The company posted a 20.73% increase in its revenue from operations to ₹108.19 crore in the year ended March 2025. In the year-ago period, the revenue stood at ₹89.61 crore.

The profit after tax advanced 65.45% to ₹18.25 crore in the financial year 2024-25, compared to ₹11.03 crore in the previous fiscal year.