Mono Pharmacare Limited IPO: All You Need to Know

Mono Pharmacare Limited is a pharmaceutical products distributor based in Ahmedabad, Gujarat. The company was founded in 1994 and has been growing steadily ever since. In the financial year 2022-23, the company reported a revenue of INR 137.8 crores and a net profit of INR 5.3 crores.

Mono Pharmacare is targeting to raise INR 14.84 crores through its initial public offering (IPO). The IPO will open on August 28, 2023, and close on August 30, 2023. The price band for the IPO is set at INR 26-28 per share.

The proceeds from the IPO will be used to finance the company's growth plans, including:

• Expanding its product portfolio

• Increasing its marketing and distribution network

• Making strategic acquisitions

The IPO is being managed by Axis Capital and ICICI Securities. The registrar for the IPO is Bigshare Services Pvt Ltd.

The shares of Mono Pharmacare Limited are proposed to be listed on the National Stock Exchange (NSE) SME Exchange.

Know more about Mono Pharmacare LTD IPO.