Amanta Healthcare IPO: Amanta Healthcare shares to list tomorrow. Here’s what GMP indicates ahead of debut

Ahmedabad-based Amanta Healthcare is set to make its market debut on Tuesday. Ahead of the listing, the GMP is quoting at about Rs 9 over the upper end of the issue price of Rs 126. That works out to a 7% premium, indicating modest but steady demand in the unofficial market. The Rs 126 crore public offer of Amanta Healthcare was open for subscription between September 1 and September 3.

The issue was entirely a fresh share sale, with the company issuing about one crore shares. The price band was fixed at Rs 120–126 per share. Post issue, promoter shareholding will reduce from 85.6% to 63.6%, signalling a reasonable dilution for growth funding.

Company backgroundFounded in 1994, Amanta Healthcare develops and markets sterile liquid pharmaceutical products and medical devices. Its product basket includes large and small volume parenterals (IV fluids and injectables), ophthalmic solutions, respiratory care products and irrigation fluids. The company also manufactures medical devices such as first-aid solutions and eye lubricants.

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It operates a large facility in Hariyala, Kheda district, Gujarat, with advanced manufacturing lines based on Aseptic Blow-Fill-Seal (ABFS) and Injection Stretch Blow Moulding (ISBM) technology. With over 45 generics marketed under its own brands, the company sells across India through 320 distributors and also exports to Africa, Latin America, the UK, and 19 other countries.

Financials and growth strategyAmanta’s revenue stood at Rs 274.7 crore in FY25, almost flat year-on-year, while profit after tax rose sharply to Rs 10.5 crore from Rs 3.6 crore in FY24. Margins improved with EBITDA at Rs 59.6 crore, translating into an EBITDA margin of over 21%.The company plans to use Rs 70 crore from the IPO proceeds for a new SteriPort manufacturing line and about Rs 30 crore for a new SVP line, while the rest will go toward general corporate purposes.The strategy is to deepen branded generics sales under its SteriPort brand, expand international reach, and add manufacturing capacity to ease current supply constraints.

OutlookAnalysts say the IPO is priced at about 47x FY25 earnings on a post-issue basis, making valuations appear expensive compared to some listed peers. Still, investors are betting on the company’s strong presence in sterile injectables and its export-led growth.

With a GMP of around 7%, expectations for listing gains remain moderate. The stock’s actual performance will depend on sustained demand for parenterals and how quickly the company can scale up its new manufacturing lines.