Veeda Clinical Research IPO Date, Review, Price and Key Information

Veeda Clinical Research IPO is fully book build issue and it includes both fresh issue and offer for sale. The issue contains a fresh issue worth ₹185 crores. and offer for sale upto 1.3 crore shares.

The dates for the Veeda Clinical Research IPO have not been announced yet.

The allotment process is expected to be finalized by [.]. The Veeda Clinical Research IPO is scheduled to list on BSE, NSE, with a tentative listing date of [.].

The price band for the Veeda Clinical Research IPO has not been announced yet.

Registrar for this IPO is MUFG Intime India Private Limited and lead managers for Veeda Clinical Research IPO are Axis Capital Limited, CLSA India Private Limited, IIFL Capital Services Limited, SBI Capital Markets Limited.

IPO Schedule

IPO Open Date	-
IPO Close Date	-
IPO Allotment Date	-
Refund Initiation	-
Share credit in Demat	-
Listing Date	-

Key Details

Price Band	TBA
Lot Size	TBA
Face Value	₹2 Per Equity Share
Total Issue Size	13,008,128 Shares + ₹185 Crores
Fresh Issue	₹185.00 Crores
OFS Issue	13,008,128 Shares
Issue Type	Fresh Issue and Offer for Sale
Listing At	BSE, NSE

Share Reservation

Investor Category	Shares Offered
QIB	75%
Retail	10%
NII/HNI	15%

About Veeda Clinical Research Limited Company

Veeda Clinical Research Limited is a global, full-service Contract Research Organization (CRO) offering comprehensive services across the drug development value chain. These range from non-clinical and pre-clinical development and testing, to early phase clinical pharmacology, bioavailability and bioequivalence studies, and early to late phase clinical trials.

Our expertise extends to various drug modalities, including novel chemical entities, novel biological entities, generics, and biosimilars, as well as medical devices. Veeda's services include: Clinical Trials (Phase I-IV), Healthy Volunteer Studies (HVS), Pre-Clinical studies, and Biopharma Services. Veeda is one of the few Indian CROs with expertise in Novel Monoclonal Antibody therapeutics (mAb) and has an in-house Electronic Data Capture (EDC) platform.

With a strong presence in North America, Europe, and Asia, Veeda's revenue from contracts with customers for the six months ended September 30, 2024, was ₹305.3 crore. Our team includes over 900 subject matter experts with scientific knowledge. Our Total Addressable Market (TAM) is expected to grow from USD 65.4 billion in 2023 to USD 110.7 billion in 2028, growing at a CAGR of 11.1%.

Veeda Clinical Research Limited Financial Details

Period Ended	30 Sep 2024	30 Sep 2023	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	1891.86	888.11	2040.21	734.77	677.54
Revenue	305.30	180.66	388.78	409.58	288.03
Profit After Tax	-24.93	6.36	-0.36	42.42	50.46
Net Worth	1067.01	607.05	1065.00	462.93	437.28
Reserves and Surplus	1048.91	592.54	1047.37	446.58	419.58
Total Borrowing	405.49	38.63	261.69	48.57	47.20

₹ In Crore

Key Performance Indicator

Basic EPS (in ₹)	Return on Net Worth (RoNW)	Net Asset Value (NAV)	Debt-Equity Ratio	Return on Equity (ROE)	Return on Capital Employed (ROCE)
(0.04)	(0.02)	189.04	0.32

Offer Objectives

The Offer includes a fresh issue of equity shares aggregating up to ₹ 18.50 crore and an offer for sale of up to 13,008,128 equity shares by the Selling Shareholders. The company will not receive any proceeds from the Offer for Sale.

Object of the Fresh Issue: The company plans to use the net proceeds from the fresh issue for several key objectives:

Capital expenditure towards procurement of equipment and machinery for our Company (₹ 50.00 crore)
Investment in Bioneeds India Private Limited for capital expenditure towards procurement of equipment and machinery (₹ 35.00 crore)
Investment in Bioneeds India Private Limited for repayment/prepayment of certain borrowings (₹ 10.89 crore)
Funding organic growth through marketing and promotional activities, technology upgrades, and adoption of modern digital solutions (₹ 33.00 crore)
General corporate purposes.

The company expects to benefit from the listing of Equity Shares, increased visibility, and the creation of a public market for its shares.

The estimated schedule for deploying the net proceeds involves utilizing funds across Financial Years 2026, 2027, and 2028 for capital expenditures and organic growth initiatives, with a portion allocated to repayment of borrowings in FY26.