214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9804.70 Crs.  Total funds raised in 2,025.00

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

Vijaypd Ceutical IPO Review

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Vijaypd Ceutical IPO Date
  • IPO Open Date:
    29 Sep 2025
  • IPO Close Date:
    1 Oct 2025
  • IPO Allotment Date:
    3 Oct 2025
  • Tentative Refund Date:
    6 Oct 2025
  • IPO Listing:
    7 Oct 2025
Check Vijaypd Ceutical IPO GMP

Vijaypd Ceutical IPO Overview

Sector Update

Vijaypd Ceutical caters to Pharmaceutical sector; distributor and supplier of the pharmaceutical products and consumer goods sectors, offering a comprehensive range of services. The API (Active Pharmaceutical Ingredients) sector is projected to grow at a CAGR of 7-8% by 2029, positioning India as a critical player in the global pharmaceutical supply chain.

Growth drivers

Leverages advanced technology to deliver comprehensive healthcare solutions to pharmacies, nursing homes, and clinics across Western Suburban Mumbai, South Mumbai, Ratnagiri, Aurangabad and Akola. As of March 31, 2025, the customer base includes over 2,109 pharmacies, clinics, and nursing homes across four districts, covering 20 locations. Positioning itself to expand its market presence by diversifying into the manufacturing of active pharmaceutical ingredient.

Financial Update:
(comparison of FY24 FY25 )
Revenue ₹59.20 cr ₹117.09 cr (+97.79%)
PAT ₹1.65 cr ₹4.79 cr (+190.30%)
PAT Margin 2.79 % 4.09 % (+46.59%)
EBITDA ₹4.86 cr ₹9.36 cr (+92.59%)
EBITDA Margin 8.21 % 7.99 % (-2.68%)
ROE 25.04 % 14.89 % (-40.54%)
ROCE 14.61 % 17.30 % (+18.41%)
D/E 3.71 0.68 (-81.67%)
Business Diversification

The company is into distribution of healthcare products to retail pharmacies, nursing homes and healthcare clinics in Maharashtra. Investment in technology at warehouses to enhance fulfilment rates, reliability and product availability. Samarth Software is utilised to ensure that inventory records are updated real-time and accurate. This system is also integrated to ensure that orders are processed in a timely manner.

IPO Valuation

PE Ratio: 14.23x Average Sector PE Ratio: 20.39x

Vijaypd Ceutical IPO Reservation

Vijaypd Ceutical IPO Share Allocation
NII (HNI) Shares Offered: 2608000
Retail Shares Offered: 2608000
Total Shares Offered: 5216000
Vijaypd Ceutical IPO Lot Size
Application Lot Shares Amount
Individual investors (Retail) (Max) 2 8000 ₹280000
S-HNI (Min) 3 12000 ₹420000

Interesting facts about IPO

IPO Size: ₹ 19.25 Cr.

Avg IPO Size (Sector Based):

₹ 21.71 cr.


SME IPO so far in this sector:

42

Merchant Banker: Smart Horizon

SME IPO by BRLM so far:

15


SME IPO so far in this city:

306

PE Ratio: 14.23

Average Sector PE Ratio:

20.39 X

Price Band (Upper): ₹ 35.00

Listing Price:

₹ 35.00

Business Profile

Vijaypd Ceutical is engaged in the business of distributor and supplier of the pharmaceutical products and consumer goods sectors, offering a comprehensive range of services. Thier roles include being representatives, dealers, agents, stockists, suppliers, traders, and packers. They provide a wide range of products, serving both the pharmaceutical and wellness industries, as well as the fast moving consumer goods (FMCG) market, including pharmaceutical and wellness products such as medicines, including injections, tablets, capsules, ointments, suppositories, ophthalmic preparations, and liquid oral products; vitamins, hormones, enzymes, and wellness tonics; serums and diagnostic test kits, and fast-moving consumer goods, such as personal care and toiletries like soaps, sanitizers, and baby care items; ayurvedic product; cosmetics and food products and additionally, they provide dental products, crude drugs. Their Company VijayPD Ceutical Limited was originally incorporated as M/s. Vijay Pharma, as a partnership firm, in the year 1971 before being converted into a public limited company.

Further their Company has acquired the running business of M/s. P.D. Doshi, a Partnership firm on going concern basis vide Business Transfer Agreement dated April 1, 2024 entered by and between M/s. P.D. Doshi, Partnership firm and their company. A pharmaceutical supply chain consists of various stages, ranging from manufacturing to distribution and the delivery of medicines and vaccines to consumers. This supply chain encompasses several processes such as drug distribution, inventory management, pharmaceutical logistics, and overall supply chain management. In addition to these processes, it involves multiple entities, including manufacturers, suppliers, distributors, logistics partners, shippers and pharmaceutical retailers.

Strengths and Challenges as per DRHP

Strengths Image
  • Comprehensive product portfolio
  • Streamlined supply chain management
Strengths Image
WEAKNESSES Image
  • The pharmaceutical industry is highly regulated
  • Geographical concentration
  • Sudden increase in profits needs to be tracked
Strengths Image
S
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Comparison of Vijaypd Ceutical IPO with Listed peers/Listing Gains (as per DRHP)

Company Name
CMP
Face Value
Basic & Diluted EPS
PE Ratio
RoNW
NAV per Share
Vijaypd Ceutical Limited
35
10
3.84
9.11
14.91
25.78
Medplus Health Services Limited
853.60
2
3.37
253.29
3.32
103.63
Entero Healthcare Solutions Limited
1,227.40
10
4.41
278.32
1.17
379.33
Company Name CMP Face Value Basic & Diluted EPS PE Ratio RoNW NAV per Share
Vijaypd Ceutical Limited 35 10 3.84 9.11 14.91 25.78
Medplus Health Services Limited 853.60 2 3.37 253.29 3.32 103.63
Entero Healthcare Solutions Limited 1,227.40 10 4.41 278.32 1.17 379.33
Notes
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Comparison of Vijaypd Ceutical IPO with some Listed peers/Listing Gains in the Similar sector

Select Listed IPO for Comparison:
Basis
Vijaypd Ceutical IPO
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IPO Date
7th Oct 2025


IPO Size
₹ 19.25 Cr.

Total Assets
₹ 57.14 Cr.

Revenue
₹ 117.09 Cr.

PAT
₹ 4.79 Cr.

PAT Margin
4.09 %

Leverage Ratio
0.68 x

PE Multiple
14.23 x

EV/EBITDA
9.30 x

Notes:
1) All the above data is at the time of IPO
2) Revenue and Pat is taken on annualised basis

Vijaypd Ceutical IPO Objectives (Objects of Offer) and expected Utilisation

Funding of capital expenditure requirements of company towards the construction of Pharmaceutical API/ Intermediates and Chemicals manufacturing plant and purchase of machineries in MIDC – Shrirampur, Ahmednagar, Maharashtra
10.83

Repayment/prepayment of all or certain of the borrowings availed of by the Company
5.10

General Corporate Purposes
0.74

Track Record of (Merchant Banker)/merchant Banker Report

Smart Horizon Capital Advisors Private Limited, based in Mumbai is the Lead Manager (BRLM) of Vijaypd Ceutical IPO. Smart Horizon Capital Advisors Private Limited has handled (17) SME IPOs till date of which (76%) of the SME IPOs have been listed with listing gains. Read full review of Smart Horizon Capital Advisors Private Limited .

Read more details of this IPO

Peer Companies Of This Sector

FAQs

Vijaypd Ceutical IPO may offer opportunites, depending on your investment strategy. For in-depth analysis, risk factors, and KPIs, check our detailed report on Vijaypd Ceutical Financial Review Page

Vijaypd Ceutical IPO subscription was 1.37 X. IPO subscription refers to applications received in an IPO by each quota, i.e., QIB, Retail, and NII. In some IPOs, Eligible employee quota and shareholder’s quota are also present. Learn more about IPO subscriptions here.

Vijaypd Ceutical IPO listed at a listing price of 35.00 against the offer price of 35.00.

The current market price of Vijaypd Ceutical is 37.65.

Services

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