Veeda Clinical Research Limited IPO GMP Price, Date, Review Details – IPO Upcoming

Veeda Clinical Research Limited has filed a draft red herring prospectus (DRHP) with SEBI in order to raise funds through an initial public offering (IPO). The proposed offering would include new equity shares worth up to Rs 331.60 crore and a Rs 500 crore offer for sale (OFS) by the founders and present shareholders. CX Alternative Investment Fund may invest up to Rs 8.08 crore in the OFS; Arabelle Financial Services Limited may invest up to Rs 90.19 crore; Bondway Investment Inc. may invest up to Rs 259.77 crore; Stevey International Corporation may invest up to Rs 0.04 crore, and Basil Private Limited up to Rs 141.93 crore. SBI Capital Markets Limited, ICICI Securities Limited, JM Financial Limited, and Systematix Corporate Services Limited are the issue’s book-running lead managers.

Veeda Clinical Research Limited serves clients in North America, Europe, and Asia by covering the majority of the medication development and launch value chain. Bioanalytical services, such as bioavailability and bioequivalence (“BA and BE”) investigations, are provided, as is a comprehensive suite of clinical trials, including pre-clinical, early-phase, and late-phase clinical trials, as well as ancillary services. They have conducted pharmacokinetic (“PK“) investigations as well as generic, new chemical

entities (“NCEs“), big molecules, and biosimilar trials. They had grown from a single facility in Ahmedabad with a total capacity of 62 beds and a monthly capacity of 7,000 samples to four facilities in Ahmedabad and one in Mehsana with a total capacity of 532 beds and a monthly capacity of 100,000 samples as of March 31, 2021. They presently have pre-clinical trial capabilities with two facilities in Bangalore, each with 99 separate experiment rooms and self-contained chemistry, biopharmaceutical, and analytical laboratories.

Veeda Clinical Research Limited IPO Objectives:

Here are a few quick reasons why Veeda Clinical Research Limited is going public:

• Our subsidiary, Bioneeds, provided repayment/prepayment of certain liabilities (including accrued interest).
• Funding capital expenditure requirements of the Company.
• Investment in the Subsidiary, Bioneeds, for financing capital expenditure requirements.
• Funding further acquisition of equity shares in Bioneeds.
• Acquisition of equity shares in the Joint Venture, Ingenuity BioSciences Private Limited.
• Funding working capital requirements of the Company.

Veeda Clinical Research Limited IPO Financials

Why should you invest in Veeda Clinical Research Limited IPO?

• One of India’s largest independent full-service CROs, with a recent expansion into regulated markets in the US and the EU.
• The Indian CRO market accounts for around 3% of the global market by value, estimated at USD 2 billion in 2021, and is expected to be the fastest expanding market, with a CAGR of approximately 12% from 2021 to 2026.

Know before investing

Veeda Clinical Research Limited Noteworthy Highlights:

1. For Fiscal 2021, the company conducted research for 157 clients, including some of the world’s largest and fastest expanding pharmaceutical companies.
2. They are one of the leaders in offering clinical research services to their global clients in 27 countries spanning Europe, Asia, and North America in an effective and safe manner by combining their past experience, knowledge of the global pharma sector, and strong scientific competence.
3. To enable them provide excellent bioanalytical services, the organisation has established 45 Bioanalytical systems throughout the facilities, with a monthly processing capacity of 100,000 samples.

Veeda Clinical Research Limited IPO FAQs: