Veeda Clinical Research Ltd. IPO Details
Veeda Clinical Research Ltd. was incorporated on April 23, 2004. The company is a global full-service contract research organization (CRO) providing end-to-end drug development services, from preclinical testing to late-phase clinical trials, for novel drugs, generics, biosimilars, and medical devices
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 13.0 M | - | - | ₹1,850.0 M | DRHP DOC |
Veeda Clinical Research issue details
Veeda Clinical Research has 13.0 M shares on offer
Veeda Clinical Research IPO issue size is ₹ 1,850.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
Veeda Clinical Research IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Veeda Clinical Research NUMBER OF SHARES ON OFFER
Veeda Clinical Research FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY25 | -249.3 | 3,053.0 | 252.5 | 57.1 | 25.1% |
| H1FY24 | 63.6 | 1,806.6 | 341.3 | 34.2 | 22.5% |
| FY24 | -3.6 | 3,887.8 | 588.9 | -242.6 | 18.3% |
| FY23 | 424.2 | 4,095.8 | 1,056.7 | 298.4 | 27.2% |
| FY22 | 504.6 | 2,880.3 | 359.1 | 78.0 | 35.1% |
Veeda Clinical Research INFORMATION ON IPO ISSUE
About Veeda Clinical Research
Veeda Clinical Research Ltd. was incorporated on April 23, 2004. The company is a global full-service contract research organization (CRO) providing end-to-end drug development services, from preclinical testing to late-phase clinical trials, for novel drugs, generics, biosimilars, and medical devices
Object of the Issue
- Capital expenditure towards procurement of equipment and machinery for the company
- Investment in a material subsidiary, Bioneeds India, for capital expenditure towards procurement of equipment and machinery
- Investment in the material subsidiary, Bioneeds India, for repayment/pre-payment, in part or full of certain borrowings of its subsidiary
- Funding organic growth of the company, its material subsidiaries, Bioneeds India and Health Data Specialists (Holdings) through marketing and promotional activities, updation of technology and adoption of modern digital solutions in their workflows to enhance the efficiency and quality assurance of its operating processes and data management
- General corporate purposes
Veeda Clinical Research - PROMOTERS
| Name |
|---|
| Khataab Ahmad Khodabux |
| Bilal Ibrahim Sassa |
| Doonaye Sookye |
Veeda Clinical Research Book Running Lead Manager
Axis Capital Limited
veeda.ipo@axiscap.in
CLSA India Private Limited
veeda.IPO@clsa.com
IIFL Capital Services Limited
veeda.ipo@iiflcap.com
SBI Capital Markets Limited
veeda.ipo@sbicaps.com
Veeda Clinical Research Registrar to the Offer
MUFG Intime India Private Limited
Veedalifesciences.ipo@linkintime.co.in
Veeda Clinical Research Strengths
Comprehensive drug development
Through strategic organic and inorganic expansion, the company has evolved from a generics-focused CRO in 2015 to offering comprehensive drug development services, including novel chemical and biological entities. Key milestones include a Phase I Clinical facility at Vedant in 2020 and the acquisition of Bioneeds India in 2021, enhancing preclinical trial capabilities
Scientific capabilities
The company’s scientific expertise enables it to conduct complex studies across various therapeutic areas, supported by its global infrastructure and facilities in India. With the acquisition of Heads, the company gains access to a network of key opinion leaders (KOLs) in hemato-oncology, enhancing its scientific knowledge and clinical trial capabilities from Phase I to Phase IV
Quality control
The company has a robust Quality Management System (QMS) that ensures compliance with global standards, monitors performance, and addresses deviations through corrective and preventive actions. The QMS follows guidelines from global regulatory authorities, ICH-GCP, GLP, and other relevant local and international standards
Veeda Clinical Research Risks
Contract cancellation
The loss or delay of large contracts or key client agreements could adversely affect financial results, as the backlog-revenue relationship fluctuates and may not be fully realized if contracts are cancelled
Employee attrition
The company depends on an experienced workforce, including management and scientific staff. Losing key personnel or failure to recruit qualified staff could impact business operations
Investigator & patient recruitment
Timely selection of investigators and recruitment of patients, including female volunteers, is crucial for conducting clinical trials. Investigators oversee drug administration, data collection, and protocol compliance at hospitals, clinics, or other sites
IPO FAQs
The promoters of the company are Khataab Ahmad Khodabux, Bilal Ibrahim Sassa and Doonaye Sookye.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.