Curis Lifesciences Limited IPO: Date, Price, GMP, Review, Details
Company Overview
Curis Lifesciences Limited (CIN U24230GJ2016PLC086559) is an Indian pharmaceutical company headquartered in Ahmedabad, Gujarat. The company is engaged in contract manufacturing, loan-license manufacturing, and exports of pharmaceutical formulations. It operates a manufacturing facility in the GIDC Sanand-II Industrial Estate, Ahmedabad, Gujarat. Discover Curis Lifesciences Limited IPO: opens 7 Nov 2025, price band ₹120-128, issue size ~₹27.5 crore, SME pharma manufacturer, strengths, risks and investor insight.
Business Model & Strengths
- The company offers a wide range of dosage forms: tablets, capsules, external preparations, oral liquids, and ophthalmic ointments.
- It serves both domestic markets and overseas markets via direct exports and contract manufacturing. For example, as of FY 2024-25 it had obtained product registrations in countries such as Kenya and Yemen.
- Some of its key strengths: an experienced promoter/management team, a location in Gujarat (industrial hub), scalable manufacturing model and quality‐focus.
Curis Lifesciences Limited IPO Key Details
- Issue opens: 7 November 2025; closes: 11 November 2025.
- Price band: ₹120 to ₹128 per equity share of face value ₹10 each.
- Issue size: Up to 22,50,000 equity shares (face value ₹10) aggregating to about ₹27.52 crore.
- Lot size: Minimum 2,000 shares for retail category (per some sources) or 1,000 shares reported elsewhere (SME IPO category).
- Listing: On the NSE EMERGE platform (SME segment) of National Stock Exchange of India (NSE) or relevant exchange.
- Objects of the Issue:
- Capital expenditure towards improvement of existing manufacturing facility.
- Construction of a storage facility.
- Product registrations in other countries.
- Working capital requirements.
- Pre-payment/repayment of secured loans.
Financials & Performance
- For the year ended March 31 2025, total income/revenue: ~ ₹49.132 crore (up from ~₹35.556 crore a year ago).
- Profit after tax (restated): ~ ₹6.105 crore in FY25 (vs ~ ₹4.867 crore in FY24).
- NAV per share: ~ ₹27.34 (as per FY25), Return on net worth ~37.62%.
Market Opportunity & Risks
Opportunity:
- The global and domestic pharmaceutical formulation market is large and growing, offering tailwinds for contract/loan‐license manufacturing and exports.
- Ability to register products abroad and export gives additional growth potential.
- The SME IPO size is modest (~₹27 crore), meaning listing gains may be more accessible but competition remains strong.
Risks:
- Being a smaller SME company, scale and brand recognition are limited compared to large pharma firms.
- Manufacturing cost pressures, raw-material price fluctuations and regulatory compliance risks are meaningful in pharma manufacturing.
- Reliance on third-party marketing/exports for some of the revenue, which may affect margins and control.
- Market for SME listed stocks can be less liquid and more volatile.
Outlook & Verdict
Curis Lifesciences presents an interesting opportunity for investors looking to participate in a smaller‐cap pharma manufacturing company with export ambitions and modest issue size. The financials show profit growth and decent returns on equity, which is positive. However, the scale is small, and the business faces typical manufacturing/regulatory risks. Investors should treat this as a higher‐risk, potentially higher‐return SME IPO play, rather than a blue‐chip listing.
