Curis Lifesciences SME IPO
ListedNSE SMEOpens 7 November 2025Closes 11 November 2025
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…
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.
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Key ratios
As per RHP / filingsTimeline
IPO Opens
7 Nov 2025
IPO Closes
11 Nov 2025
Allotment
12 Nov 2025
Listing
14 Nov 2025
IPO Timeline & Listing Details
| Event | Date |
|---|---|
| IPO Open Date | 7 November 2025 |
| IPO Close Date | 11 November 2025 |
| Allotment Date | 12 November 2025 |
| Listing Date | 14 November 2025 |
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
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Sources
We match Curis Lifesciences SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- MUFG Intime India Pvt.Ltd.Official site to check allotment status for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.