Curis Lifesciences IPO Details is launching its SME IPO on the NSE platform from November 7 to November 11, 2025, with a price band of ₹120 to ₹128 per share. Learn about IPO details, objectives, financial performance, and analyst insights in simple words.
IN THIS ARTICLE
About Curis Lifesciences Limited
Curis Lifesciences Limited is a pharmaceutical manufacturing company based in Sanand, Gujarat, engaged in making and marketing high-quality formulations. The company works mainly on a contract and loan license manufacturing model, serving over 100 corporate clients. It also sells products under its own brand name in select international markets like Yemen, Kenya, and other African countries.
The company focuses on tablets, capsules, ointments, and syrups, ensuring strict quality control and compliance with industry standards. Its mission is to provide affordable and reliable medicines while expanding its footprint globally.
Company Highlights
- Experienced management team with years of experience in pharma manufacturing.
- Strong financial growth and consistent profits over the past three years.
- A modern manufacturing facility equipped with advanced quality systems.
- A diversified client base across domestic and international markets.
- A clear plan to use IPO proceeds for capacity expansion, storage facilities, and working capital.
Curis Lifesciences IPO Details
| Feature | Details |
|---|---|
| IPO Open Date | November 7, 2025 (Friday) |
| IPO Close Date | November 11, 2025 (Tuesday) |
| Issue Price Band | ₹120 to ₹128 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,000 shares |
| Total Issue Size | 21,50,000 shares (₹27.52 crore) |
| Net Issue to Public | 20,42,000 shares (₹26.14 crore) |
| Listing At | NSE SME |
| Issue Type | Book Building Issue |
| Market Maker | RS Wealth Management Pvt. Ltd. (1,08,000 shares reserved) |
In short:
The Curis Lifesciences IPO will be open from November 7 to November 11, 2025, with shares priced between ₹120 and ₹128. The IPO will list on the NSE SME platform, offering investors an opportunity to invest in a growing pharmaceutical company.
Tentative IPO Timeline
| Event | Date |
|---|---|
| IPO Opens | Friday, November 7, 2025 |
| IPO Closes | Tuesday, November 11, 2025 |
| UPI Mandate Cut-off | 5 PM on November 11, 2025 |
| Allotment Date | Wednesday, November 12, 2025 |
| Refunds Initiation | Thursday, November 13, 2025 |
| Credit of Shares | Thursday, November 13, 2025 |
| Listing Date | Friday, November 14, 2025 |
Explanation:
Investors can apply between Nov 7–11, and allotment will likely be finalized on Nov 12. Shares are expected to be listed on Nov 14, making it a quick turnaround for early investors.
Reservation Structure
| Category | Shares Offered | Percentage |
|---|---|---|
| QIB (Qualified Institutional Buyers) | 10,18,000 | 47.35% |
| NII (Non-Institutional / HNI) | 3,08,000 | 14.33% |
| Retail Investors | 7,16,000 | 33.30% |
| Market Maker | 1,08,000 | 5.02% |
| Total | 21,50,000 | 100.00% |
Explanation:
About one-third of the issue is reserved for retail investors, giving individual applicants a fair chance to participate in this IPO.
Minimum and Maximum Application Details
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min & Max) | 2 | 2,000 | ₹2,56,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,84,000 |
| S-HNI (Max) | 7 | 7,000 | ₹8,96,000 |
| B-HNI (Min) | 8 | 8,000 | ₹10,24,000 |
In short:
Retail investors can apply for 2,000 shares (2 lots) with an investment of around ₹2.56 lakh, while HNI investors need to apply for at least 3,000 shares or more.
Objectives of the IPO
Curis Lifesciences aims to use the IPO proceeds for expansion, modernization, and working capital needs.
| Purpose | Proposed Amount (₹ in Crore) |
|---|---|
| Upgradation of Existing Manufacturing Facilities | 2.44 |
| Construction of Storage Facility | 3.62 |
| Product Registrations in Other Countries | 2.69 |
| Prepayment/Repayment of Secured Loans | 1.86 |
| Funding Working Capital Requirements | 11.25 |
| General Corporate Purposes | Balance Amount |
Explanation:
A large part of the funds will go toward working capital and facility improvement, ensuring smooth business operations and future growth. The repayment of loans will help reduce debt pressure and strengthen the balance sheet.
Company Financial Performance
| Period Ended | 31 Jul 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr) | 56.29 | 42.53 | 33.88 | 29.75 |
| Total Income (₹ Cr) | 19.51 | 49.65 | 35.87 | 36.42 |
| Profit After Tax (₹ Cr) | 2.87 | 6.11 | 4.87 | 1.88 |
| EBITDA (₹ Cr) | 4.24 | 9.54 | 8.39 | 3.28 |
| Net Worth (₹ Cr) | 19.10 | 16.23 | 5.87 | 1.01 |
| Total Borrowings (₹ Cr) | 15.32 | 15.62 | 17.09 | 16.19 |
In simple words:
Curis Lifesciences has shown strong growth over the years. Revenue grew from ₹36 crore in FY23 to ₹49 crore in FY25, while profits rose from ₹1.88 crore to ₹6.11 crore. This steady improvement shows the company’s solid business model and demand in the pharma sector.
Key Performance Indicator
- Return on Equity (ROE): 55.25% (as of March 31, 2025)
- Promoter Holding Pre-Issue: 92.68%
- Promoter Holding Post-Issue: 68.03%
Explanation:
A high ROE indicates efficient use of capital, while a strong promoter holding reflects confidence in the company’s long-term potential.
Anchor Investors
Before the IPO opened to the public, Curis Lifesciences raised ₹7.80 crore from anchor investors on November 6, 2025.
| Detail | Information |
|---|---|
| Shares Offered | 6,09,000 |
| Anchor Portion Size | ₹7.80 crore |
| Lock-in (50% Shares) | Till December 12, 2025 |
| Lock-in (Remaining 50%) | Till February 10, 2026 |
In short:
The participation of anchor investors adds credibility and market trust to the IPO, often attracting strong retail interest.
Valuation and Analyst View
Based on FY25 earnings, the IPO is priced at a P/E ratio of about 16.95x, which is considered reasonable compared to peers in the SME pharma sector. Analysts expect that post-IPO, the valuation could further improve as the company reduces its debt and increases capacity.
Analyst Highlights:
- Strong revenue and profit growth over the last three years.
- Efficient use of IPO funds for expansion and working capital.
- Focused strategy to increase exports and international sales.
- Low debt-to-equity ratio post-IPO.
However, some experts note that SME IPOs carry liquidity risk, and investors should consider a medium to long-term horizon before investing.
Risk Factors
- The company operates in a highly competitive pharma manufacturing market.
- Dependence on a limited number of clients for revenue.
- Any changes in regulatory policies can affect business operations.
- Being an SME listing, post-listing liquidity may be limited compared to mainboard IPOs.
Conclusion
The Curis Lifesciences IPO 2025 presents an interesting opportunity for investors looking to invest in a growing pharmaceutical manufacturing company with consistent financial growth and a clear expansion strategy.
The company’s strong fundamentals, efficient management, and strategic use of IPO proceeds make it a promising candidate for long-term investors. However, like all SME issues, investors should consider liquidity and market risks before investing.
Disclaimer
This post is for informational and educational purposes only. Investing in IPOs and stock markets involves risks. Always read the Red Herring Prospectus (RHP) carefully and consult a qualified financial advisor before investing.
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