Goldline Pharmaceutical SME: Check IPO Date, Live Subscription and Key Details
Goldline Pharmaceutical Limited, incorporated in 2021, is a pharmaceutical marketing company that operates under an asset-light business model. The company markets a wide range of pharmaceutical formulations under its proprietary brand 'Goldline', across five specialized divisions: Pharma (General), Cardinal (Specialty), Aayushman (Pediatric), InLife (Critical Care), and Wellness (Supportive Care). Instead of in-house manufacturing, Goldline partners with 15 third-party manufacturers and utilizes a network of 7 distributors to supply products to retailers and hospitals across Maharashtra, Tamil Nadu, Rajasthan, and other states.
Price Range
₹41.0 - ₹43.0
Issue Size
₹11.61 Cr
Lot Size
3,000 shares
IPO Type
BSE SME
GMP
₹18(+41.86%)
Est. Listing Price
₹61
Estimate Profit
₹1,08,000
Retail Portion
35.13%
Key Metrics
Check Live GMPGMPFace Value
₹10
EPS
3.09
P/E Ratio
13.93
RoNW
27.37%
ROE
35.83%
Debt to Equity
1.07
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Timeline
IPO Opens
12 May
IPO Closes
14 May
Allotment
15 May
Listing
19 May
IPO Timeline & Listing Details
| Event | Date | Details |
|---|---|---|
| IPO Open Date | 12 May 2026 | Subscription starts |
| IPO Close Date | 14 May 2026 | Subscription ends |
| Allotment Date | 15 May 2026 | Allotment |
| Listing Date | 19 May 2026 | Listing |
Investment Categories
| Category | Lots | Amount |
|---|---|---|
Individual | 2 | ₹2,58,000 |
SHNI (Min) | 3 | ₹3,87,000 |
SHNI (Max) | 7 | ₹9,03,000 |
BHNIAbove ₹10,00,000 | 8 | ₹10,32,000 |
IPO Reservation Details
| Category | Reservation |
|---|---|
| QIB (Qualified Institutional Buyer) | 49.65% |
| NII (Non-Institutional Investor) | 15.22% |
| SHNI (Small Non-Institutional Investor) | 5.07% |
| BHNI (Big Non-Institutional Investor) | 10.15% |
| Retail | 35.13% |
| Market Maker | 5.11% |
| Total | 100.00% |
IPO Objectives
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company (₹8.35 Cr).
- General Corporate Purposes.
Strengths
- The company utilizes Asset-Light Scalability, focusing on branding and marketing while avoiding heavy capital expenditure on manufacturing facilities.
- It maintains a Diverse Product Portfolio with over 140 products across high-growth specialties like Neurology, Diabetology, and Oncology.
- The firm is led by Experienced Leadership, with promoters possessing deep domain knowledge and a proven track record in the pharmaceutical marketing sector.
- The business demonstrates Strong Financial Ratios, including a robust RoCE of 38.45% and a healthy PAT margin exceeding 10% in FY25.
- It has an Established Network involving partnerships with 15 manufacturers and a multi-state distribution system, ensuring a stable and diversified supply chain.
Weaknesses
- There is a heavy Third-Party Reliance, as the company is entirely dependent on external manufacturers for production, risking supply chain disruptions or quality issues.
- The business faces High Competition within a fragmented market characterized by low entry barriers for local marketing firms.
- The company has a Small Equity Base post-IPO, which may lead to limited trading liquidity and a longer timeframe for migration to the mainboard.
- It is subject to significant Regulatory Risk, specifically related to Drug Price Control Orders (DPCO) and healthcare regulations that can squeeze profit margins.
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Financial Performance
| Period Ended | 31 Dec 2025 (9M) | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 27.4 | 26.28 | 22.93 | 19.39 |
| Revenue (₹ Cr.) | 21.41 | 28.06 | 23.57 | 19.85 |
| PAT (₹ Cr.) | 2.22 | 2.83 | 1.81 | 0.26 |
| Net Worth (₹ Cr.) | 12.36 | 10.35 | 7.86 | 5.89 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Goldline Pharmaceutical | 3.47 | 13.93 | 35.83% | 12.36 |
| Mono Pharmacare Ltd. | 0.74 | 7.44 | 2.67% | 31.2 |
| Chandra Bhagat Pharma | 0.8 | 27.72 | 2.04% | 30.72 |
Subscription Details
Daily Bids Status
| Category | Day 1 |
|---|---|
| QIB | 1.31x |
| NII | 18.75x |
| S-HNI | 22.57x |
| B-HNI | 16.79x |
| RII | 30.1x |
| Total | 19.18x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 5,40,000 | 7,05,000 | 3.03 |
| NII | 3,90,000 | 73,11,000 | 31.44 |
| Small NII | 1,32,000 | 29,79,000 | 12.81 |
| Big NII | 2,58,000 | 43,32,000 | 18.63 |
| RII | 9,00,000 | 2,70,90,000 | 116.49 |
| Total | 18,30,000 | 3,51,06,000 | 150.96 |
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Company Details
- Goldline Pharmaceutical Ltd.
- 103, F-1, Leela Apartment, Shilpa HSG Society, Near Saptagiri Nagar, Shanidham, Narendra Nagar, Nagpur, Maharashtra, 440015
- +91 712 2786666
- info@goldlinepharma.in
- https://goldlinepharma.in/
Registrar Details
- Bigshare Services Pvt.Ltd.
- +91-22-6263 8200
- ipo@bigshareonline.com
- https://www.bigshareonline.com/
Frequently Asked Questions
What is the primary business model of Goldline Pharmaceutical?
Goldline Pharmaceutical follows an asset-light marketing model, where they design and brand pharmaceutical products and outsource the manufacturing to third-party partners.
When does the Goldline Pharmaceutical IPO open and close?
The IPO opens for subscription today, May 12, 2026, and closes on May 14, 2026.
What is the IPO price band and minimum retail investment?
The price band is ₹41 to ₹43 per share. Due to SME lot size rules, a retail investor must apply for a minimum of 2 lots (6,000 shares), costing ₹2,58,000.
What is the current Grey Market Premium (GMP) for Goldline Pharmaceutical?
As of May 11, 2026, the GMP is approximately ₹17, suggesting an estimated listing price of ₹60 (a ~39.53% premium).
How will the company use the IPO proceeds?
The company will utilize approximately ₹8.35 Cr of the proceeds to repay or prepay existing borrowings to strengthen its balance sheet.
Where will the shares be listed?
The shares are proposed to be listed on the BSE SME platform, with a tentative listing date of May 19, 2026.
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