Claroid Pharmaceuticals Files IPO Papers With Sebi For ₹168-Crore Ahmedabad Plant

Claroid Pharmaceuticals, a Gujarat-based pharmaceutical formulations manufacturer, has filed draft red herring prospectus (DRHP) with market regulator Sebi for an initial public offering. The IPO comprises a fresh issue of up to 74.50 lakh equity shares and an offer for sale of 51.50 lakh shares, totalling 1.26 crore shares.

Proceeds from the fresh issue will fund a new manufacturing facility in Ahmedabad estimated to cost ₹167.97 crore. The facility will produce injectables, ampoules, vials, dry powder, pre-filled syringes and eye-drop products with a capacity of 15 lakh units monthly. The company currently operates a plant at Pirana, Ahmedabad, manufacturing tablets, capsules and ointments.

Claroid has developed 129 pharmaceutical formulations and maintains export presence across Nigeria, Tanzania, Kenya, Myanmar and other African markets. Revenue from operations grew to ₹169.72 crore in FY26 from ₹62.98 crore in FY24, registering 64.13 per cent CAGR.