Curis Lifesciences SME: Check IPO Date, Live Subscription and Key Details
Curis Lifesciences Limited is a pharmaceutical manufacturing company specializing in a wide range of dosage forms, including tablets, capsules, oral liquids, external preparations, and sterile ophthalmic ointments. The company operates through three main business models: Loan License Manufacturing (job worker for domestic clients), Contract Manufacturing (supplying finished products to domestic suppliers and merchant exporters to countries like Kenya, Nigeria, and the UK), and Direct Export / Own Brand Manufacturing (exporting products under its own brands to regions like Yemen and Kenya). The company's manufacturing facility in Sanand, Gujarat, has significant annual capacities across its various product forms and is utilizing IPO proceeds for major capacity upgrades, construction of a storage facility, and product registrations in new countries.
Key Metrics
Check Live GMP
Timeline
IPO Opens
7 Nov
IPO Closes
11 Nov
Allotment
12 Nov
Listing
14 Nov
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 7 November 2025 | Subscription starts |
| IPO Close Date | 11 November 2025 | Subscription ends |
| Allotment Date | 12 November 2025 | Allotment |
| Listing Date | 14 November 2025 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,56,000 |
SHNI (Min) | 3 | ₹3,84,000 |
SHNI (Max) | 7 | ₹8,96,000 |
BHNIAbove ₹10,00,000 | 8 | ₹10,24,000 |
IPO Objectives
- Capital Expenditure towards Upgradation/Improvement of the existing Manufacturing Facilities (₹2.44 Cr).
- Capital Expenditure towards Construction of a Storage Facility (₹3.62 Cr).
- Pre-payment/Repayment of outstanding Secured Loans (₹1.86 Cr).
- Product Registrations in other countries (₹2.69 Cr).
- Funding our Working Capital Requirements (₹11.25 Cr).
- General Corporate Purposes.
Strengths
- The company has a wide range of products and dosage forms, offering comprehensive manufacturing capabilities across tablets, capsules, liquids, and sterile ointments.
- It is backed by an experienced Promoters and Management Team with deep industry knowledge in pharmaceutical manufacturing.
- The strategic location of its manufacturing facility in GIDC Sanand-II aids in supply chain and logistics efficiency.
- The scalable Business Model uses Loan License and Contract Manufacturing, reducing direct market risk while utilizing capacity.
- It shows strong financial growth, with revenue up 38% and profit after tax (PAT) rising by 25% (FY24-FY25), and maintains healthy return ratios.
Weaknesses
- There is high dependence on contract and loan license manufacturing, which leads to limited direct pricing power and reliance on brand owners' marketing.
- The company has High Working Capital Requirements (₹11.25 Cr from Fresh Issue) and debt levels (Debt/Equity 0.59), which can strain liquidity.
- It faces intense competition in the pharmaceutical contract manufacturing sector from numerous domestic and international players.
- The business has exposure to regulatory risks, where compliance failure with strict domestic and foreign bodies (e.g., US FDA) could halt operations.
- The Direct Export/Own Brand segment currently contributes less than 1% of revenue, limiting immediate high-margin growth potential.
Financial Performance
| Period Ended | 31 Jul 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 56.29 | 42.53 | 33.88 | 29.75 |
| Revenue (₹ Cr.) | 19.51 | 49.65 | 35.87 | 36.42 |
| PAT (₹ Cr.) | 2.87 | 6.11 | 4.87 | 1.88 |
| Net Worth (₹ Cr.) | 19.1 | 16.23 | 5.87 | 1.01 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Curis Lifesciences Limited | 12.64 | 12.01 | 55.25% | 15.53 |
| Sotac Pharmaceuticals Limited | 2.68 | 15.38 | 15.07% | 58.42 |
| Lincoln Pharmaceuticals Limited | 1.57 | 12.19 | 12.26% | 672 |
Subscription Details
Daily Bids Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 8.34x | 8.34x | 96.17x |
| NII | 1.19x | 4.06x | 115.46x |
| S-HNI | 0.5x | 2.95x | 60.38x |
| B-HNI | 1.53x | 4.6x | 142.74x |
| RII | 0.87x | 3.8x | 44.28x |
| Total | 3.07x | 5.15x | 74.39x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 4,09,000 | 3,93,35,000 | 503.49 |
| NII | 3,08,000 | 3,55,63,000 | 455.21 |
| Small NII | 1,02,000 | 61,59,000 | 78.84 |
| Big NII | 2,06,000 | 2,94,04,000 | 376.37 |
| RII | 7,16,000 | 3,17,06,000 | 405.84 |
| Total | 14,33,000 | 10,66,04,000 | 1,364.53 |
Company Details
- Curis Lifesciences Ltd.
- PF-23, GIDC Sanand - II, Industrial Estate, Sanand, Ahmedabad, Gujarat-382110
- +91 99045 22543
- cs@curisls.com
- https://curisls.com/
Registrar Details
- MUFG Intime India Pvt.Ltd.
- +91-22-4918 6270
- curislifesciences.smeipo@in.mpms.mufg.com
- https://linkintime.co.in/Initial_Offer/public-issues.html