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Aakaar Medical Technologies IPO
Aakaar Medical Technologies Ltd
₹1,08,800 /1600 sharesMinimum Investment
Aakaar Medical Technologies IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹72.00 | ₹75.00 | ₹3.00 (4.17%) |
Aakaar Medical Technologies IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 20 Jun ‘25 - 24 Jun ‘25 | ₹1,08,800 | 1,600 | ₹68 - ₹72 |
| Issue Size | IPO Doc |
|---|---|
| 27.00Cr | RHP PDF |
Subscription rate
As of 24 Jun'25, 05:00 PM
| Qualified Institutional Buyers | 2.33x |
| Non-Institutional Investor | 1.63x |
| Retail Individual Investor | 1.67x |
| Total | 1.72x |
About Aakaar Medical Technologies
Founded in
2013
Managing director
Mr Dilip Ramesh Meswani
Parent organisation
Aakaar Medical Technologies Ltd
Strengths & Financials of Aakaar Medical Technologies
Strengths
Risks
As of FY24, Aakaar Medical Technologies claims to have a customer base of 5,205, comprising doctors and clinic chains across India. The company further claims that its top 10 customers contributed only 10.96 percent of its revenue in the same year, indicating a low dependency on any single client and a diversified customer mix.
The company claims to operate across multiple product categories and reported a product portfolio of 154 stock-keeping units (SKUs) as of FY25. It further claims that it sold 5,41,754 units across various segments, including home care, professional care, injectables, contouring products, and medical aesthetic devices.
Aakaar Medical Technologies claims to have partnered with Parekh Integrated Services Pvt. Ltd. (PISPL) as its consignment sales partner. The company further claims to have access to 21 warehousing centres through PISPL, which it states allows distribution coverage across India and helps reduce order-to-delivery timelines for its clients.
The company has witnessed a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 32.78 crore in FY23 to Rs 46.11 crore in FY24 and Rs 61.58 crore in FY25. PAT increased from Rs 2.15 crore in FY23 to Rs 2.87 crore in FY24 and Rs 6.04 crore in FY25.
A substantial portion of the company’s revenue is derived from the distribution of imported brands. They accounted for Rs 38.47 crore (62.47 percent) of the company’s revenue in FY25, Rs 32.17 crore (69.78 percent) in FY24, and Rs 25.04 crore (76.38 percent) in FY23. Any disruption in global supply chains, currency fluctuations, regulatory changes or international trade restrictions could adversely impact the company’s supply, pricing, and revenue stream.
The company relies entirely on third-party manufacturers for its product supply, which subjects it to risks outside its direct control. Volatility in raw material prices, utility rates, and transportation costs at the manufacturer level can reduce profit margins or lead to increased product prices. Additionally, operational issues, regulatory actions, labour disputes, and logistics delays at the third-party manufacturing sites could negatively affect the company’s production schedules, cost structure, and overall financial condition.
Aakaar Medical Technologies depends heavily on third-party contract manufacturers and loan licensing partners for products sold under its own brand. They accounted for Rs 23.11 crore (37.53 percent) of the company’s revenue in FY25, Rs 13.94 crore (30.22 percent) in FY24, and Rs 7.74 crore (23.62 percent) in FY23. Any breakdown in these partnerships could disrupt supply continuity, raise compliance risks, and impact the company’s operations and reputation.
The company’s operations require a consistently high level of working capital. It increased from Rs 15.00 crore in FY23 to Rs 26.93 crore in FY24 and Rs 39.08 crore in FY25. Any failure to meet these growing needs could impair the company’s ability to maintain inventory, extend credit to customers, or fund business expansion, ultimately affecting profitability and financial stability.
A substantial portion of the company’s revenue is derived from Maharashtra. It accounted for Rs 9.65 crore (15.68 percent) of the company’s revenue in FY25, Rs 8.87 crore (19.24 percent) in FY24, and Rs 6.54 crore (19.94 percent) in FY23. Any adverse political, social, or economic developments in this state could negatively impact the company’s operations, revenue, and growth prospects.
The company relies extensively on PISPL for the storage, distribution, and delivery of its products. Sales through PISPL accounted for Rs 49.81 crore (80.88 percent) of the company’s revenue in FY25, Rs 25.55 crore (55.41 percent) in FY24, and Rs 5.17 crore (15.77 percent) in FY23. Any non-performance, logistical inefficiencies, or termination of the consignment sales agent (CSA) agreement with PISPL could disrupt order fulfilment and cash flows, thereby adversely affecting Aakaar Medical Technologies’ operational continuity and profitability.
The company reported negative cash flow from operating activities amounting to Rs 5.41 crore in FY25, Rs 8.04 crore in FY24, and Rs 2.93 crore in FY23. Additionally, negative cash flow from investing activities amounted to Rs 0.05 crore in FY25, Rs 0.04 crore in FY24, and Rs 0.32 crore in FY23. If cash outflows continue to exceed inflows in the future, the company may face liquidity challenges.
The company’s operations are subject to seasonal variations, with a significant portion of annual sales concentrated in the second half of the financial year. Demand typically peaks during festive periods, the wedding season, and other culturally significant events. Any inability to address this fluctuation in demand could adversely affect the company’s business and financial condition.
The company, its promoters, and directors are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
As of FY25, the company had trade receivables amounting to Rs 28.00 crore, a sharp increase from Rs 16.26 crore in FY24 and Rs 10.23 crore in FY23. Any failure to collect these receivables on time or at all can negatively impact the business and its financial condition.
As of April 30, 2025, the company had outstanding financial indebtedness amounting to Rs 22.01 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Aakaar Medical Technologies Financials
*All values are in Rs. Cr
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Application Details of Aakaar Medical Technologies IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹68 - 72 | ₹2 - 5 Lakh |
| High Networth Individual | ₹68 - 72 | ₹2 - 5 Lakh |
For Aakaar Medical Technologies IPO, eligible investors can apply as Regular.