Anlon Healthcare IPO - Listing Performance & Details

Anlon Healthcare Limited was established in 2013, began commercial manufacturing in 2017, and is headquartered in Rajkot, Gujarat. It works in the pharmaceutical chemicals sector, manufacturing pharmaceutical intermediates and active pharmaceutical ingredients (APIs).

The company manufactures high-purity pharmaceutical intermediates used in API production, along with APIs used in medicines, nutraceuticals, personal care and veterinary products, following Indian and international pharmacopeia standards such as IP, BP, EP, JP and USP. It derives revenue mainly from two segments, APIs and finished dosage formulation, and is one of the few Indian manufacturers of loxoprofen sodium dihydrate, an API used in pain and inflammation management, with regulatory approvals from Brazil, China and Japan. Its top 10 customers accounted for about 77.7% of FY25 revenue, and its entire production runs from a single facility in Rajkot. The promoters are Punitkumar R. Rasadia, Meet Atulkumar Vachhani and Mamata Punitkumar Rasadia.

Revenue fell from Rs 113.12 crore in FY23 to Rs 66.69 crore in FY24 due to a regulatory-related disruption, before recovering to Rs 120.46 crore in FY25; profit after tax rose from Rs 5.82 crore in FY23 to Rs 9.66 crore in FY24 and Rs 20.52 crore in FY25, as per the RHP. The IPO was a mainboard book-built issue of about Rs 121.03 crore on the NSE and BSE, structured entirely as a fresh issue of 1,33,00,000 equity shares of face value Rs 10 each, with no offer for sale, priced at Rs 91 per share, and it listed on 3 September 2025. Net proceeds from the fresh issue are proposed to be used for expansion of the manufacturing facility, repayment of debt, meeting working capital requirements, and general corporate purposes, as detailed in the RHP.