Gujarat-based Medicap Healthcare files DRHP with Sebi to raise Rs 240 crore

Medicap Healthcare Limited has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). The company plans to raise Rs 240 crore by issuance of fresh equity with no offer for sale (OFS) component as per its draft papers.

About the company

Medicap Healthcare is a prominent player in the Indian pharmaceutical packaging sector, specialising in the production of pharmaceutical closures, including Euro Head caps and bottle preforms. The company operates from a 6,732 square meter manufacturing facility, located at Vadodara’s Manjusar. The total annual installed capacity of manufacturing approximately 751 million units — 389 million units in pharma packaging Euro Head Caps, 149 million units in bottle preforms and 213 million units in other protector caps. The company produced 454 million units in FY2025.

As of FY25, the company had a pan-India presence across 21 states and 5 Union territories while its sales presence is across 14 countries, the DRHP claimed.

The company’s promoters are Kamalkumar Aggarwal, Rajveer Kamal Aggarwal and Minal Aggarwal.

Medicap Healthcare financials

As of FY2025, the company’s 80.02% revenue from operations came from domestic sales and the balance 19.98% was from exports to 14 countries. The company has about 1.4% of the global market share and more than 40% domestic market share for Euro Head caps, the DRHP said, citing F&S Report.

Medicap Healthcare IPO proceeds

The Gujarat-based company plans to purchase plant & machinery for its existing manufacturing unit, aggregating up to Rs 74.37 Crore). Up to Rs 32.90 crore from the IPO proceeds is expected to be utilised for repayment or pre-payment of certain borrowings availed by the company.

Moreover, the company will make investment in its subsidiary KASR Healthcare Private Limited for repayment or pre-payment of loans amounting up to Rs 52.80 crore). The balance will be utilised for general corporate purposes.

Medicap Healthcare IPO lead managers

Aryaman Financial Services Limited is the sole Book Running Lead Manager (BRLM) for the issue.Also Read: NSB BPO Solutions IPO: GMP, price band among key details to know before subscription

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