The IPO is a book-built issue entirely comprising a fresh issue of 21.5 lakh shares, priced between Rs 120 and Rs 128 per share. Investors can bid for a minimum of 2,000 shares, requiring an investment of Rs 2.56 lakh at the upper end of the price band.
Strong anchor backing before launch
Ahead of the issue opening, Curis Lifesciences raised Rs 7.81 crore from anchor investors, with 6.1 lakh shares allotted at the upper price band. The anchor lock-in period for half the shares ends on December 12, while the remainder will be locked until February 10, 2026.
What the company does
Curis Lifesciences is engaged in developing, manufacturing, and marketing pharmaceutical products for both domestic and international clients. The company operates primarily on a contract manufacturing (loan-licence) model and also produces drugs under its own brands in select overseas markets such as Yemen and Kenya.
Its portfolio includes tablets, capsules, oral liquids, external preparations, and sterile ophthalmic ointments. The company operates a state-of-the-art facility in Sanand, Gujarat, built to comply with stringent international quality standards. Curis serves over 100 corporate clients globally.
Financial performance
The company has delivered consistent growth in recent years. Revenue rose 38% to Rs 49.6 crore in FY25, while profit after tax increased 25% to Rs 6.1 crore. EBITDA stood at Rs 9.5 crore, translating to an EBITDA margin of 19.4% and a PAT margin of 12.4%.
Use of IPO proceeds
The company plans to use the proceeds for expanding and modernising its infrastructure. Around Rs 2.4 crore will go towards upgrading existing manufacturing facilities, Rs 3.6 crore for setting up a new storage facility, and Rs 1.9 crore for repayment of secured loans. Additionally, Rs 2.7 crore will be used for product registration in overseas markets, Rs 11.25 crore for working capital, and the remainder for general corporate purposes.
Outlook
With demand for contract manufacturing and global pharma outsourcing on the rise, Curis Lifesciences aims to leverage its manufacturing strength and regulatory approvals to expand into new markets. The IPO’s tentative allotment date is November 12, and successful applicants are expected to see shares credited by November 13, before the listing on November 14.
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