Amanta Healthcare shares list at 7% premium over IPO price

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Shares of Amanta Healthcare, a manufacturer of sterile liquid pharmaceuticals and medical devices, listed at a premium of 7% on the exchanges on Tuesday. The stock debuted at Rs 135 on the NSE and Rs 134 on the BSE (6.3% premium) against the issue price of Rs 126.

The Rs 126 crore IPO was entirely a fresh issue of one crore equity shares.


The fresh capital will primarily fund expansion. Approximately Rs 70 crore is earmarked for a new SteriPort manufacturing line at Hariyala, Gujarat, while Rs 30 crore will be allocated to set up another line for small-volume parenterals (SVPs). The remainder will go toward general corporate purposes.

The IPO was open for subscription between September 1 and September 3, with allotment finalized on September 4. Beeline Capital Advisors served as the book-running lead manager, while MUFG Intime India handled registrar responsibilities.


The offering received strong demand, with retail, non-institutional, and institutional categories all oversubscribed, indicating healthy interest despite sector competition. Anchor investors had already committed Rs 37.8 crore ahead of the launch, helping build momentum.

Company profile

Ahmedabad-based Amanta Healthcare, incorporated in 1994, specializes in sterile liquid formulations such as IV fluids, ophthalmic solutions, diluents, and respiratory care products. The company also produces irrigation solutions, first-aid products, and eye lubricants under its medical device portfolio.It markets more than 45 generic products in India through a network of roughly 320 stockists and has a growing export footprint, with registrations in 19 countries and branded product sales in 21 overseas markets, including Africa, Latin America, and the UK.Amanta employs over 1,700 people and uses advanced technologies such as Aseptic Blow-Fill-Seal (ABFS) and Injection Stretch Blow Moulding (ISBM) at its facilities.

Financial performance

The company posted revenue of Rs 276.1 crore in FY25, down 2% from Rs 281.6 crore a year earlier, while profit after tax surged to Rs 10.5 crore from Rs 3.6 crore in FY24. EBITDA improved to Rs 61 crore, translating into a margin of 22.1%.

Despite the improved bottom line, analysts have flagged the IPO as “fully priced.” At the upper price band, the stock values the company at a price-to-earnings ratio of nearly 47x on FY25 earnings, leaving limited room for error.

The IPO reflects investor appetite for niche healthcare plays, though long-term returns will depend on the company’s ability to scale exports, control costs, and sustain margins in a competitive industry.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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