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Veeda Clinical Research Company Details
Veeda Clinical Research is one of the largest independent full service clinical research organization (“CRO”) in India as of March 31, 2020, on the basis of revenue . With over 16 years of experience, it has partnered with members of the pharmaceutical fraternity globally, to deliver efficacious clinical research solutions. It has forayed into the pre-clinical segment by acquiring 50.10% of Bioneeds, in tranches, between March and July 2021. Bioneeds is a preclinical CRO providing discovery, development and regulatory services to the pharmaceutical industry. Further, in February 2021, it established Ingenuity Biosciences Private Limited (“Ingenuity Biosciences”), which is its 50:50 joint venture with Somru BioScience Inc., (“Somru”) a Canadianbased biotechnology company, to enhance its capabilities in biosimilars.
Veeda Clinical Research offers a broad range of services across most aspects of the drug development and drug launch value chain throughout the global markets including North America, Europe and Asia. Its services include specialized bioanalytical services such as bioavailability and bioequivalence (“BA & BE”) studies, as well as a full suite of clinical trials including pre-clinical, early phase and late phase clinical trials, together with related services. It has expertise in pharmacokinetics (“PK”) studies as well as trials in generic molecules, new chemical entities (“NCEs”), large molecules and biosimilars.
As of March 31, 2021, it has successfully completed 85 global regulatory inspections by some of the most stringent regulatory authorities worldwide such as the United States Food and Drug Administration (“USFDA”), the United Kingdom Medicines and Healthcare Products Regulatory Agency (“UK-MHRA”), the World Health Organisation (“WHO”), the Brazilian Health Regulatory Agency (“ANVISA”), the Drugs Controller General of India (“DCGI”) and the European Medicines Agency (“EMA”) so far.
It has served clients in 27 countries in Europe, North America and Asia in the last fiscal. As of March 31, 2021, 84.95% of our BA and BE studies were conducted within regulated markets, with the USA and EU comprising 60.60% and 24.35%, respectively. It have completed studies for 157 clients during the Fiscal 2021 including some of the largest and fastest growing pharmaceutical companies in the world, for instance, some of its prominent clients in India include Dr. Reddy’s Laboratories Limited, Mankind Pharma Limited and Granules India Limited, and Laboratorios Liconsa, S.A (also known as Chemo) in Europe; Novugen Pharma (Malaysia) SDN. BHD. in Malaysia, Sunshine Lake Pharma Co.
Ltd and Qilu Pharmaceutical Co., Ltd in China; and Upsher-Smith Laboratories LLC and Osmotica
Pharmaceutical US LLC in the USA.
Veeda Clinical Research has grown from a single facility in Ahmedabad in 2004 with a total capacity of 62 beds and a capability of processing ~7,000 samples per month to four facilities at Ahmedabad and one at Mehsana, with a total capacity of 532 beds and a capability of processing ~100,000 samples per month as of March 31, 2021. With its acquisition of Bioneeds, it has now gained pre-clinical trial capabilities with two facilities in Bangalore having 99 exclusive experiment rooms designed as per international standards and self-contained chemistry, biopharma and analytical laboratories. Further, it has also established an innovation-centric bioanalytical laboratory in Ahmedabad under Ingenuity Biosciences.
Veeda Clinical Research has been recognized by the industry for our leading CRO services over the years with ‘Best Clinical Research Organisation in India’ award in 2018 by the Associated Chambers of Commerce of India; ‘Clinical Trial Company of the year’ award for the year 2018 at the Clinical Trials Awards organized by World Health and Wellness Congress and ‘Bharat Udhyog Ratan Award’ in 2018 by Economic Growth Foundation. More recently, it was recognized as the ‘Top CLRO Company’ in 2020 by Biospectrum India and were awarded the ‘Best Quality Clinical Research Services in India’ award in 2020 by Praxis Media Group.
For more information, click www.veedacr.com
The Promoters of Veeda Clinical Research
Basil Pvt ltd
Veeda Clinical Research IPO Main Objects
The Offer comprises of the Fresh Issue and Offer for Sale.
The Company proposes to utilise the Net Proceeds towards 1. Repayment/prepayment of certain indebtedness availed by its Subsidiary, Bioneeds; 2. Funding capital expenditure requirements of the Company; 3. Investment in its Subsidiary, Bioneeds for financing capital expenditure requirements; 4. Funding further acquisition of equity shares of Bioneeds; 5. Investment in its Joint Venture, Ingenuity BioSciences Private Limited through acquisition of equity shares;
6. Funding working capital requirements of the Company;
Veeda Clinical Research IPO Details
IPO opens on (?) , 2021
IPO closes on (?) ,2021
Issue Type: Book Built Issue IPO
Issue : up to (?) Shares /Rs 831.599 Crore
* Fresh Issue of (?) Sh/ Rs.331.599 Cr
* Offer for Sale Up to (?) Sh/ Rs. 500 Cr
Face Value per share : Rs. 2
Veeda Clinical Research IPO Price Band Per Equity Share: Rs. (?)
Veeda Clinical Research IPO Retail Lot Size (?) Shares
Veeda Clinical Research Listing will at BSE,NSE
Shares offered to
QIB (?%) ?Shares = Rs (?) Cr
NII (?%) ?Shares = Rs (?) Crs
RII (?%) ? Shares = Rs (?) Crs
Lot size: (?) Shares = (?) Forms
Min Retail Application : (?) Sh , Rs. (?)
Max Retail Application : (?) Sh, Rs (?)
Veeda Clinical Research IPO Tentative timeTable
Veeda Clinical Research IPO Allotment on ? 2021
Unblocking of ASBA ? 2021
Credit to Demat Accounts ? 2021
Data Patterns Listing on ? 2021
Veeda Clinical Research IPO Financial & Analytical Ratios
Earnings per Share 2019-20 Rs ( 0.01)
Earnings per Share 2020-21,Rs 15.39
Earnings per Share 2021-22 6M Rs ?
Book Value of the Share as on 31.3.2021 Rs 41.41
Return on Net Worth: 19-20 (0.05) %
Return on Net Worth: 20-21: 37.16 %
Return on Net Worth: 20-21 6M:( N.A.) %
Equity Shares prior to the IPO : ? Shares
Ratio Analysis
Upper Price Band/last EPS:
Upper offer price/Book Value Ratio
Upper offer price/BV after IPO Ratio:
Veeda Clinical Research IPO Peer Comparison:
There are no comparable listed companies in India that engage in a business similar to that of this Company.
Veeda Clinical Research IPO Lead Managers
SBI Capital Markets,ICICI Securities,JM Financial ,Stematix Corporate Services
Registrar to Veeda Clinical Research IPO
Linkintime India pvt ltd.
Registered Office of Veeda Clinical Research
Shivalik Plaza : A, 2nd Floor, Opposite AMA, Ambawadi, Ahmedabad 380 015
Contact Person : Mr. Nirmal Atmaram Bhatia
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Sir Jeevan life science (JSTL)is a only listed peer of veeda clinical