India’s IPO market continues to grow in 2025 with a variety of companies tapping into public funding. Among them, Vijaypd Ceutical Limited offers a promising investment opportunity in the pharmaceutical distribution sector. The company is all set to launch its IPO on September 29, 2025, with ₹19.25 crore in fresh capital, providing investors an exciting chance to be a part of this growing business.
About Vijaypd Ceutical Ltd.
Vijaypd Ceutical Limited, incorporated in October 1971, is a well-established distributor of pharmaceutical products and consumer goods. The company acts as a distributor, stockist, agent, and supplier, catering to both the pharmaceutical and FMCG sectors. Their product portfolio includes medicines such as injections, tablets, capsules, ointments, and liquid oral products, along with vitamins, hormones, wellness tonics, serums, diagnostic test kits, personal care items, and even ayurvedic and cosmetic products.
As of March 31, 2025, the company serves over 2,100 pharmacies, clinics, and nursing homes across four districts in India, covering 20 locations. Vijaypd Ceutical collaborates with over 170 healthcare product manufacturers, offering access to over 19,000 SKUs. The company’s certifications from the FDA, FSSAI, and BMC ensure high standards in its operations.
The company’s commitment to providing high-quality products and its expansive distribution network position it as a strong player in the growing pharmaceutical market.
Competitive Strengths:
- Strong relationships with clients and partners
- Extensive and diversified product portfolio
- Streamlined supply chain management
- Experienced management with proven execution capabilities
Vijaypd Ceutical IPO Details
The Vijaypd Ceutical IPO is a fixed price issue amounting to ₹19.25 crore. The entire issue consists of 0.55 crore shares with an issue price of ₹35 per share. The IPO is set to open for subscription on September 29, 2025, and close on October 1, 2025.
IPO Timeline:
| Event | Date (Tentative) |
| IPO Open Date | Sep 29, 2025 |
| IPO Close Date | Oct 1, 2025 |
| Tentative Allotment | Oct 3, 2025 |
| Initiation of Refunds | Oct 6, 2025 |
| Credit of Shares to Demat | Oct 6, 2025 |
| Tentative Listing Date | Oct 7, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Oct 1, 2025 |
Key IPO Details:
| Parameter | Details |
| Face Value | ₹10 per share |
| Issue Price | ₹35 per share |
| Lot Size | 4,000 shares |
| Total Issue Size | 55,00,000 shares (aggregating up to ₹19.25 Cr) |
| Reserved for Market Maker | 2,84,000 shares (aggregating up to ₹0.9940 Cr) Shreni Shares Ltd. |
| Net Offered to Public | 52,16,000 shares (aggregating up to ₹18.26 Cr) |
| Sale Type | Fresh Issue |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Shareholding Pre-Issue | 1,40,28,686 shares |
| Shareholding Post-Issue | 1,95,28,686 shares |
Investor Category Reservation:
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 2,84,000 (5.16%) |
| NII (HNI) Shares Offered | 26,08,000 (47.42%) |
| Retail Shares Offered | 26,08,000 (47.42%) |
| Total Shares Offered | 55,00,000 (100.00%) |
Lot Size & Investment:
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 8,000 | ₹2,80,000 |
| Retail (Max) | 2 | 8,000 | ₹2,80,000 |
| HNI (Min) | 3 | 12,000 | ₹4,20,000 |
Promoter Holding:
The promoters of the company are Samit Madhukar Shah, Bhavin Dhirendra Shah, Rahul Dhirendra Shah, Narendra Nagindas Shah, Dina Madhukar Shah, and Hemanti Jitendra Shah.
- Pre-IPO: 78.30%
- Post-IPO: 56.25%
Book Running Lead Manager: Smart Horizon Capital Advisors Pvt. Ltd.
Registrar: Kfin Technologies Ltd.
Market Maker: Shreni Shares Ltd.
Vijaypd Ceutical Ltd.: Financials
Financial Highlights (₹ Crore):
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 57.15 | 33.27 | 32.87 |
| Total Income | 107.59 | 54.34 | 50.59 |
| Profit After Tax | 4.80 | 1.65 | 0.18 |
| EBITDA | 8.59 | 4.87 | 1.32 |
| Net Worth | 32.17 | 1.00 | 4.93 |
| Reserves & Surplus | 18.14 | – | – |
| Total Borrowing | 21.77 | 30.04 | 25.56 |
Key Performance Indicators (FY2025):
| KPI | Value |
| ROE (Return on Equity) | 28.91% |
| ROCE (Return on Capital Employed) | 17.30% |
| Debt/Equity | 0.68 |
| RoNW (Return on Net Worth) | 14.91% |
| PAT Margin | 4.49% |
| EBITDA Margin | 8.04% |
Vijaypd Ceutical IPO Objectives
The net proceeds from the IPO will be used for the following purposes:
| Object | Amount (₹ Crore) |
| Funding Capital Expenditure for the pharmaceutical plant | 10.83 |
| Repayment/prepayment of borrowings | 5.10 |
| General Corporate Purposes | 0.74 |
Industry Outlook
India’s pharmaceutical sector continues to grow, driven by:
- Increasing demand for healthcare products, especially in the generics and wellness sectors
- Expanding healthcare infrastructure in both urban and rural regions
- Growing global presence of Indian pharmaceutical companies, driven by export opportunities
Vijaypd Ceutical, with its established relationships and diverse portfolio, is well-positioned to leverage this growth.
Conclusion
Vijaypd Ceutical Ltd. presents a valuable opportunity for investors seeking exposure to the pharmaceutical distribution space. With strong financial growth, a wide product range, and a robust distribution network, the company has significant potential. However, investors should consider risks like the dependence on key clients and fluctuations in pharmaceutical demand.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO to stay updated on the latest market offerings.
