Published: 7 May 2026 | 5.54 AM
Last Updated: 19 May 2026 | 9.30 AM
Listed @ Rs. 59.75 (38.95% Gain)
IPO Overview
Goldline Pharmaceutical IPO is an SME book-built issue of Rs. 11.61 crore. The issue comprises entirely a fresh issue of 27 lakh shares. The IPO opens for subscription on 12 May 2026 and closes on 14 May 2026. The company is proposed to be listed on the BSE SME platform on 19 May 2026. Goldline Pharmaceutical Limited operates in the pharmaceutical marketing business under the “Goldline” brand, offering products across physician, cardiology, diabetic, pediatric, wellness and specialty healthcare segments through an asset-light distribution model across multiple Indian states.
👉 | GMP | Reviews | Subscription | Allotment
Key Highlights
| Particulars |
Details |
| IPO Type |
SME Book Build IPO |
| Issue Size |
Rs. 11.61 Cr |
| Business |
Pharmaceutical Marketing |
| Listing Exchange |
BSE SME |
| Issue Nature |
Fresh Issue Only |
| Price Band |
Rs. 41 to Rs. 43 |
| Retail Application |
2 Lots Mandatory |
| Listing Date |
19 May 2026 |
| Lead Manager |
Cumulative Capital Pvt. Ltd. |
| Registrar |
Bigshare Services Pvt. Ltd. |
Goldline Pharmaceutical IPO GMP – Latest Update
| Particulars |
Details |
| IPO GMP Today |
Rs. 15 |
| Kostak |
NA |
| Subject to Sauda |
Rs.34,200 |
| GMP Trend |
Very Hot |
Goldline Pharmaceutical IPO Subscription Status – Live Update
| Investor Category |
Subscription Status |
| QIB |
180.22x |
| NII |
1662.04x |
| Retail |
881.15x |
| Total |
840.74x |
IPO Details at a Glance
| Particulars |
Details |
| IPO Date |
12 May to 14 May 2026 |
| Listing Date |
19 May 2026 |
| Face Value |
Rs. 10 per share |
| Price Band |
Rs. 41 to Rs. 43 |
| Lot Size |
3,000 Shares |
| Issue Type |
Bookbuilding IPO |
| Sale Type |
Fresh Issue Only |
| Listing At |
BSE SME |
| Total Issue Size |
27,00,000 Shares (Rs. 11.61 Cr) |
| Market Maker Portion |
1,38,000 Shares (Rs. 0.59 Cr) |
| Fresh Issue (Ex-Market Maker) |
25,62,000 Shares (Rs. 11 Cr) |
| Net Offer to Public |
25,62,000 Shares (Rs. 11 Cr) |
| Shareholding Pre Issue |
69,00,000 Shares |
| Shareholding Post Issue |
96,00,000 Shares |
| Market Cap (Pre-IPO) |
Rs. 41.28 Cr |
IPO Timetable
| Event |
Date |
| IPO Open |
Tuesday, 12 May 2026 |
| IPO Close |
Thursday, 14 May 2026 |
| Allotment Finalisation |
Friday, 15 May 2026 |
| Refund Initiation |
Monday, 18 May 2026 |
| Credit of Shares |
Monday, 18 May 2026 |
| Listing Date |
Tuesday, 19 May 2026 |
Reservation
| Investor Category |
Shares Offered |
| QIB Shares Offered |
Not more than 50% of Issue |
| Retail Shares Offered |
Not less than 35% of Net Issue |
| NII Shares Offered |
Not more than 15% of Net Issue |
Lot Size
| Application |
Lots |
Shares |
Amount |
| Retail (Min) |
2 |
6,000 |
Rs. 2,58,000 |
| Retail (Max) |
2 |
6,000 |
Rs. 2,58,000 |
| S-HNI (Min) |
3 |
9,000 |
Rs. 3,87,000 |
| S-HNI (Max) |
7 |
21,000 |
Rs. 9,03,000 |
| B-HNI (Min) |
8 |
24,000 |
Rs. 10,32,000 |
Company Details
Goldline Pharmaceutical Limited operates in the pharmaceutical marketing business under the “Goldline” brand. The company offers a diversified portfolio of products catering to physicians, orthopedics, ENT specialists, diabetologists, cardiologists, pediatricians, intensivists and wellness-focused therapies.
The company follows an asset-light business model and does not manufacture medicines directly. It partners with third-party manufacturers for production while focusing on product development, branding, marketing and distribution. Products are sold through a network of distributors and healthcare supply channels across Maharashtra, Madhya Pradesh, Odisha, Jharkhand, Tamil Nadu, Rajasthan and Bihar.
Competitive strengths include experienced promoters, scalable operations, diversified product categories, established distributor relationships and a growing healthcare network presence.
| Particulars |
Details |
| Registered Office |
Maharashtra, India |
| Business Segment |
Pharmaceutical Marketing |
| Product Categories |
Goldline Pharma, Cardinal, Aayushman, InLife & Wellness |
| Manufacturing Model |
Third-Party Manufacturing |
| Distribution Network |
15 Manufacturers & 7 Distributors |
| Operating States |
Maharashtra, MP, Odisha, Jharkhand, Tamil Nadu, Rajasthan, Bihar |
| Particulars |
Details |
| Lead Manager |
Cumulative Capital Pvt. Ltd. |
| Registrar |
Bigshare Services Pvt. Ltd. |
| Market Maker |
NA |
Financials
| Particulars (Rs. Cr.) |
FY25 |
FY24 |
FY23 |
| Assets |
26.28 |
22.93 |
19.39 |
| Total Income |
28.06 |
23.57 |
19.85 |
| Profit After Tax |
2.83 |
1.81 |
0.26 |
| EBITDA |
5.83 |
4.30 |
2.19 |
| Net Worth |
10.35 |
7.87 |
5.89 |
| Reserves & Surplus |
1.65 |
3.76 |
2.08 |
| Total Borrowings |
11.03 |
11.13 |
10.83 |
Valuation
| Objects of the Issue |
Estimated Amount (Rs. Cr.) |
| Repayment / Prepayment of Borrowings |
8.90 |
| General Corporate Purpose |
Balance |
| KPI |
FY25 |
| ROE |
35.84% |
| ROCE |
38.46% |
| Debt/Equity |
1.50 |
| RoNW |
27.38% |
| PAT Margin |
10.10% |
| EBITDA Margin |
20.79% |
| Price to Book Value |
3.47 |
| Particulars |
Pre IPO |
Post IPO |
| EPS (Rs.) |
4.11 |
2.95 |
| P/E (x) |
10.47 |
14.56 |
| Promoter Holding |
79.70% |
NA |
| Market Cap |
Rs. 41.28 Cr |
NA |
Chanakya View
Goldline Pharmaceutical IPO operates in the pharmaceutical marketing segment where brand positioning, doctor engagement and distribution scalability remain key growth drivers. The company has reported healthy improvement in revenue and profitability during FY25, while maintaining an asset-light business structure.
The diversified product portfolio and expanding geographical presence provide growth opportunities. However, the company remains dependent on third-party manufacturers and operates in a highly competitive pharmaceutical industry with pricing and regulatory risks.
| Parameter |
Chanakya View |
| Business Model |
Asset-Light Pharma Marketing |
| Financial Trend |
Improving |
| Margin Profile |
Healthy |
| Valuation |
Reasonably Priced |
| Risk Level |
Moderate |
| Listing Appeal |
Moderate |
| Long-Term Appeal |
Selective |
Chanakya View: Goldline Pharmaceutical IPO appears to be a Selective SME IPO suitable for investors with moderate risk appetite looking at niche pharmaceutical marketing businesses with improving profitability.
