Upcoming IPO: Cotec Healthcare files draft papers with SEBI to raise funds via public offer

Cotec Healthcare IPO: Pharmaceutical formulations manufacturer Cotec Healthcare Ltd has filed preliminary papers with the market regulator, the Securities and Exchange Board of India, to raise funds through an initial public offering.

The proposed IPO is a fresh issuance of shares valued at ₹295 crore and an offer for sale of 6,000,000 shares, according to the draft red herring prospectus (DRHP) filed on September 10.

Promoters Harsh Tiwari and Vandana Tiwari will be divesting their stake via the OFS route.

The fresh issue proceeds will be used to establish a new project to improve existing manufacturing capacities and manufacture new products. A part will also be used for general corporate purposes.

"Additionally, our company expects to receive the benefits of the listing of the equity shares on the stock exchanges, including enhancement of our company’s visibility and brand image among our existing and potential customers and creation of a public market for our equity shares in India," the RHP stated.

Pantomath Capital Advisors Private Limited is the sole book-running lead manager of the IPO, while KFin Technologies serves as the registrar.

The company's shares will be listed on the National Stock Exchange (NSE) and BSE (formerly Bombay Stock Exchange).

About Cotec Healthcare

Cotec Healthcare is the second-largest contract development and manufacturing organisation (CDMO) in India in terms of number of dosage forms, with capabilities across 24 distinct formulation types, according to the F&S report. Its offerings include products across various dosage forms, including tablets, injectables, capsules, eye drops, ampoules, ointments, vials, liquid and dry syrups, and infusions, among others.

The company's CDMO offerings include formulation, loan licensing and commercial production of off-patent products, including complex generics, in delivery forms like modified and sustained release forms, for private and institutional customers.

On the financial front, Cotec Healthcare's net profit stood at ₹20 crore during fiscal 2025, while revenue from operations was ₹192.2 crore.

Its manufacturing facility is located at Roorkee, Uttarakhand, with an aggregate installed capacity of 4,051.38 million units.