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Cotec Healthcare has filed its draft papers with SEBI and is looking to raise ₹295 crore.
Cotec Healthcare is a Dehradfun-based pharmaceutical company that manufactures tablets, capsules, ointments, injectables etc. They cater to a wide market that covers Central Asia, Ukraine, and Africa.
The deets: the issue will consist of fresh issuance worth ₹295 crore and an offer-for-sale of 6,00,00 shares.
The big picture: India’s CDMO market is projected to double in the next five years. It is expected to grow at a CAGR of 14.67% and reach a valuation of $44.63 billion by 2029. Although there are listed competitors in the space like CapTab, Sai Life Sciences, Windlas Biotech etc. Amid this, Cotec can double-down on its international market presence and wide offerings to make the most of this growth.
