Pharmaceutical company COTEC Healthcare LTD has submitted provisional articles to Capital Markets Regulator Sebi to raise money through an initial public offer (IPO).
The proposed IPO consists of a new issue of shares that collect up to £ 295 crore, together with an offer for sale (OFS) of 60 Lakh shares, according to the Draft Red Herring Prospectus (DRHP) that were submitted on Thursday.
Under the OFS, promoters Hard Tiwari and Vandana Tiwari will each release 30 Lakh stock shares.
The company proposes to use the yield of the new edition worth £ 226.25 CRORE for setting up a new project aimed at improving existing production capacities and facilitating the production of new products. Moreover, part of the proceeds will also be used for general business purposes.
COTEC Healthcare is a leading player in the industry for contract development and production organization (CDMO) in India.
The CDMO offer includes formulation, loan letters and commercial production of off-patent products, including complex generic medicines, in more complex forms of delivery such as changed and sustainable release forms, for institutional and private customers.
According to the F&S report, the Indian Pharmaceutical Market (IPM) is expected to grow from $ 16.6 billion in 2019 to $ 38.3 billion against 2029. The market is expected to expand with a CAGR of 8 percent between 2019 and 2024 to reach $ 20.13 billion between 202 and 2024 and 2024 and in accelerator.
Worldwide in third place in terms of pharmaceutical production volumes-driven by generic medicines, freely available (OTC) medicines, bulk medicines and a robust contract research and production industry, the IPM is counted to the fastest growing pharmaceutical industry in the world.
Pantomath Capital Advisors has been appointed as chief manager to support the company’s first public problem.
Published on September 11, 2025
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