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Anondita Medicare IPO
Anondita Medicare Ltd
₹1,37,000 /1000 sharesMinimum Investment
Anondita Medicare IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹145.00 | ₹275.50 | ₹130.50 (90.00%) |
Anondita Medicare IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 22 Aug ‘25 - 26 Aug ‘25 | ₹2,74,000 | 1,000 | ₹137 - ₹145 |
| Issue Size | IPO Doc |
|---|---|
| 69.50Cr | RHP PDF |
Subscription rate
As of 26 Aug'25, 04:01 PM
| Qualified Institutional Buyers | 70.50x |
| Non-Institutional Investor | 379.12x |
| Retail Individual Investor | 210.46x |
| Total | 190.37x |
About Anondita Medicare
Founded in
2024
Managing director
Mr Anupam Ghosh
Parent organisation
Anondita Medicare Ltd
Strengths & Financials of Anondita Medicare
Strengths
Risks
The company claims to be well-recognised in North India and offers a diverse range of products. Despite operating in a competitive market with larger players, Anondita Medicare claims that its cost-effective, standardised, and quality-conscious offerings provide a competitive advantage, particularly in price-sensitive segments.
Anondita Medicare Limited claims to have a detailed quality control process for latex condoms, covering every stage from raw material quarantine to final packaging. The company states that 100 percent of its condoms undergo electronic testing and visual inspection to detect defects, in addition to in-process checks during compounding, dipping, post-treatment, and foiling.
Anondita Medicare operates manufacturing facilities in Noida, Uttar Pradesh, with a built-up area of about 100,000 square feet. As per a certificate issued by a chartered engineer in June 2025, the company had an annual production capacity of 5,620 lakh condoms supported by 11 operational manufacturing lines. Each line is stated to have an average of 1,100 moulds, capable of producing approximately 12,100 condoms in three minutes at full capacity.
Anondita Medicare Limited holds ISO 13485:2016 certification for medical devices and ISO 9001:2015 certification for its quality management systems.
The company has witnessed a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 35.91 crore in FY23 to Rs 46.43 crore in FY24 and Rs 76.99 crore in FY25. PAT increased from Rs 0.35 crore in FY23 to Rs 3.84 crore in FY24 and Rs 16.42 crore in FY25.
The company reported negative cash flow from operating activities amounting to Rs 0.07 crore in FY24 and Rs 9.50 crore in FY23. This was largely due to an increase in trade receivables and trade advances. Additionally, negative cash flow from investing activities amounted to Rs 22.93 crore in FY25, Rs 6.54 crore in FY24, and Rs 0.25 crore in FY23, owing to the purchase of fixed assets and capital advances. Furthermore, the company reported negative cash flow from financing activities amounting to Rs 4 crore in FY24. This was mainly due to the payment of finance costs and withdrawal of capital. Continued negative cash flows could adversely impact the company’s business operations, growth plans, and financial condition.
The top 10 customers accounted for Rs 60.19 crore (99.46 percent) of the company’s revenue in FY25, Rs 44.25 crore (95.31 percent) in FY24, and Rs 34.65 crore (96.49 percent) in FY23. Any failure to retain these key customers, expand the customer base, or a loss of business from them can adversely affect the company’s business and financial standing.
Anondita Medicare Limited derives a significant portion of its revenue from government tenders for the supply of condoms under public health initiatives, which are subject to strict regulatory compliance and quality standards. In 2020, the company was debarred for one year from the tender process of Rajasthan Medical Services Corporation Ltd for the supply of gloves, though the order was later stayed by the Rajasthan High Court. Such instances of suspension and blacklisting from such tenders affect the company’s reputation and, consequently, its business.
The company is involved in certain ongoing civil and criminal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
A significant portion of the company’s revenue is derived from two states, Delhi and Uttar Pradesh. Delhi accounted for Rs 44.69 crore (73.85 percent) of the company’s revenue in FY25, Rs 22.82 crore (49.15 percent) in FY24, and Rs 18.53 crore (51.59 percent) in FY23. Uttar Pradesh accounted for Rs 15.04 crore (24.86 percent) of the company’s revenue in FY25, Rs 17.05 crore (36.72 percent) in FY24, and Rs 12.97 crore (36.12 percent) in FY23. Any disruption in the business environment of these regions could hurt the company’s revenues and profitability.
Anondita Medicare was incorporated on March 12, 2024, and therefore has limited operational experience and historical performance data, which makes it difficult to accurately assess future growth and scalability. While the company has acquired the running business of its promoter’s proprietorship, its success continues to rely heavily on the promoter’s expertise, raising dependence and continuity risks.
As of FY25, the company had trade receivables of Rs 16.60 crore, a slight increase from Rs 12.48 crore in FY24. Any sharp increase in trade receivables or failure to collect these receivables on time or at all can negatively impact the business and its financial condition.
The cost of materials consumed accounted for Rs 33.77 crore (72.71 percent) of the company’s total expenses in FY25, Rs 31.47 crore (76.01 percent) in FY24, and Rs 28.88 crore (80.95 percent) in FY23. A sudden increase in the costs of such raw materials could adversely impact the pricing and supply of the company’s products, harming its business and financial condition.
As of FY25, the company had outstanding financial indebtedness of Rs 27.39 crore. Any failure to service or repay these loans can hurt the company’s operations and financial position.
Anondita Medicare Financials
*All values are in Rs. Cr
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Application Details of Anondita Medicare IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Individual investor | ₹137 - 145 | ₹2 - 5 Lakh |
For Anondita Medicare IPO, eligible investors can apply as Individual investor.