AM
ClosedSMEHealthcare - Medical Aesthetics & Dermatology · Aesthetic Devices, Injectables, Skincare Products
Aakaar Medical Technologies Limited
AAKAAR·₹68 – ₹72·Opens 2025-06-20
★★★★☆4/5
🔗 Official WebsitePrice Band: ₹68 – ₹72
Min. Investment: 115200
Issue Size: 27.00
About the Company
What does this company do?
Aakaar Medical Technologies Limited is engaged in the manufacture, distribution and marketing of aesthetic and dermatological products and devices. The company operates across multiple product segments including professional skincare, home care, injectables, contouring, and medical devices. Products are sold under both…
IPO Details
Issue parameters, key dates and structure.
Total Issue Size
27.00
3750400
Fresh Issue
27.00
3750400
Proceeds go to company
Reservation Structure
QIB (Qualified Institutional Buyers)
50
1780800
Including Anchor Investor Portion
NII / HNI (Non-Institutional Investors)
15
561600
Non-Institutional Bidders
RII (Retail Individual Investors)
35
1320000
Retail Individual Bidders
Market Maker Reservation
1.33
188800
Alacrity Securities Limited
Products & Brands
Key offerings and brand portfolio of the company.
TUBELiTE GFC 360 kit: Injectable product - FY2025 revenue ₹474.41 lakhs
Scroll to see all 6 products/brands
Financial Performance
P&L, Balance Sheet and Cash Flow — all figures in ₹ Crores.
| Particulars (₹ Cr) | FY2025 |
|---|
All figures in ₹ Crores (INR). Data sourced from DRHP/RHP.
Key Financial Ratios
Valuation and profitability metrics at the IPO price.
EPS — Basic (₹)
3.95
FY2025
EPS — Diluted (₹)
—
FY2025
P/E Ratio
18.23
At upper band of ₹72
RoNW (%)
33.81
FY2025
NAV per Share (₹)
15.11
Pre-issue on face value capital of ₹153.60 lakhs
Debt/Equity
—
FY2025
EBITDA Margin (%)
15.81
FY2025
PAT Margin (%)
9.81
FY2025
Revenue CAGR
30.14
FY2023-FY2025
SWOT Analysis
Internal strengths & weaknesses; external opportunities & threats.
💪Strengths
Experienced management with 20+ years in sector
Diversified customer base of 5,236+ doctors and clinics
Pan-India distribution through 21 warehousing centres
Diversified product portfolio across 154 SKUs
Strong revenue growth with 30.14% CAGR
⚠️Weaknesses
Geographical concentration risk in Maharashtra and Karnataka
Complete dependence on third-party manufacturers
Reliance on PISPL for logistics and distribution
Heavy dependence on imported brand revenues
🚀Opportunities
Expansion into Tier 2 and Tier 3 markets
Growing demand for aesthetic and dermatological products in India
Increasing penetration in non-dermatology specialties
Growth in own brand revenue (72.75% CAGR)
🔥Threats
Changing regulatory environment in medical aesthetics
Competition from established players
Supply chain disruptions
Changes in consumer spending patterns
Competitive Strengths
Key advantages highlighted in the DRHP.
✓
Experienced Management & Leadership Team with founder Mr. Dilip Meswani being a qualified Biomedical Engineer with over two decades in the business, and CEO Dr. Rahul Sawakhande with extensive experience at market leaders like Galderma, Pfizer and Piramal Healthcare
✓
Diversified Customer Base with 5,236 doctors and aesthetic surgeons/clinic chains billed in FY2024-25, with top 10 customers contributing only 8.16% of revenue
✓
Diversified Product Portfolio with 154 SKUs across professional skincare, home care, injectables, contouring and devices
✓
Pan India reach through strategic partnership with Parekh Integrated Services Pvt. Ltd. (PISPL) which operates 21 warehousing centres providing accessibility to pin codes across India and minimizing lead times
✓
Strong Revenue Growth from Own Brands with CAGR of 72.75% from ₹774.47 lakhs in FY2023 to ₹2,311.15 lakhs in FY2024-25
✓
Strong Financial Performance with Revenue CAGR of 30.14% over FY2023-FY2025, EBITDA margin expansion to 15.81% in FY2025, and net profit growth of 180.58% over the period
Promoters & Shareholding
Pre & post-IPO shareholding pattern. Click a promoter card to learn more.
Promoters
Shareholding Pattern
73.5454.09
26.4645.91
PrePost
Key Risks
Material risk factors to consider before applying.
⚠
First public issue with no formal market for shares - no assurance regarding active trading or listing price
⚠
Geographical concentration with significant portion of revenue from Maharashtra and Karnataka making vulnerable to regional risks
⚠
Heavy dependence on PISPL as CSA agent for storage, delivery and distribution of products
⚠
Reliance on third-party contract manufacturers and loan licensing partners for manufacturing all products
⚠
Majority revenue from imported brand tie-ups which may expose to various risks including supplier dependencies
⚠
Need to accurately manage inventory and respond to changing consumer preferences in a rapidly evolving market
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Should You Apply?
Aakaar Medical Technologies is a well-positioned distributor and manufacturer of aesthetic and dermatological products operating across a diversified portfolio of 154 SKUs serving 5,000+ doctors and clinics pan-India. The company demonstrates strong financial momentum with 30.14% revenue CAGR over FY2023-25, EBITDA margin expansion to 15.81%, and PAT growth of 181%. With experienced leadership, diversified customer base (no concentration risk), and strategic partnership with PISPL for pan-India distribution, the company is well-positioned in the growing aesthetic segment. At the upper price band of ₹72 (18.23x FY2025 EPS of ₹3.95), the valuation appears reasonable for a high-growth SME with strong profitability, making it attractive for listing gains.
⚠️ This is not investment advice. CheckIPO provides information for educational purposes only. Always consult a SEBI-registered financial advisor before investing.
IPO Timeline
Key milestones from opening to listing.
📅
IPO Opens
2025-06-20
🔒
IPO Closes
2025-06-24
🏛️
Listing
2025-06-27
Lead Managers & Registrar
Institutions managing the issue and handling allotment.
Book Running Lead Managers (1)
Indorient Financial Services
Registrar to the Issue
📋
Bigshare Services Private Limited
Registrar to the Issue
Company Details
Registered information and contact details.
Company Name
Aakaar Medical Technologies Limited
CIN
U74900MH2013PLC244717
Registered Office
801, Heritage Plaza, Telli Galli Cross Road, Andheri (East), Mumbai - 400 069, Maharashtra, India
Contact Person
Anoopkumar Vishwanathan Pillai
Phone
+91 84528 44024
Website
www.aakaarmedical.in