Amwill Health Care Limited, a derma-cosmetic development firm, is launching its Amwill Health Care Ltd IPO on February 5, 2025. The IPO will close on February 7, 2025.
Amwill Health Care Limited is led by its promoters, Anand Gandhi and Tarun Gandhi. Anand Gandhi serves as the Managing Director, while Tarun Gandhi holds the position of Director.
The company’s board of directors also includes:
- Sapna Parmar
- Sharanya Nagaraj
- Sambhav Mehta
- Sagar Goutam Nahar
IPO Details:
- Open Date: February 5, 2025
- Close Date: February 7, 2025
- Allotment Date: February 10, 2025
- Listing Date: February 12, 2025
- Issue Size: The company aims to raise approximately ₹59.98 crores, comprising a fresh issue of ₹48.88 crores and an offer for sale of up to 10,00,000 equity shares with a face value of ₹10 each.
- Price Band: The price band is set between ₹105 and ₹111 per share.
- Lot Size: Investors can bid for a minimum of 1,200 shares, amounting to ₹1,33,200 at the upper price band.
- Listing: The shares are proposed to be listed on the BSE SME platform, with a tentative listing date of February 12, 2025.
Amwill Health Care Ltd IPO Company Overview:
Incorporated in August 2017, Amwill Health Care Limited specializes in developing problem-solving dermatological, cosmeceutical, and aesthetic products. The company collaborates with contract manufacturers, distributors, and third-party product development agencies to enhance its manufacturing, packaging, and distribution capabilities. Currently, it has a business presence in Karnataka, Andhra Pradesh, and Telangana.
Financial Performance:
In the fiscal year 2023, the company reported a revenue of ₹30.17 crores, up from ₹27.61 crores in 2022. The profit after tax for 2023 was ₹3.11 crores, compared to ₹2.57 crores in the previous year.
For the fiscal year ending March 31, 2023, Amwill Health Care reported:
- Revenue: ₹30.17 crore, an increase from ₹27.61 crore in 2022.
- Profit: ₹3.11 crore, up from ₹2.57 crore in 2022.
IPO Objectives:
The proceeds from the IPO will be utilized for funding the company’s working capital requirements and other general corporate purposes.
Amwill Health Care Ltd IPO Lot Size
The minimum investment amount for retail investors is ₹1,33,200, calculated as follows:
- Minimum Lot Size: 1,200 shares
- Price per Share: ₹111 (upper end of the price band)
- Total Investment: 1,200 shares × ₹111 = ₹1,33,200
For High Net Worth Individuals (HNIs), the minimum application is for 2 lots, totaling 2,400 shares, which amounts to ₹2,66,400.
Amwill Health Care Ltd IPO Promoter Holding
Amwill Health Care Limited’s promoters are Anand Gandhi and Tarun Gandhi. The company has filed a Draft Red Herring Prospectus (DRHP) for its upcoming Initial Public Offering (IPO), which includes an Offer for Sale (OFS) component. In the OFS, up to 12,00,000 equity shares are being offered by members of the promoter group, specifically:
- Bhavika Gandhi: Up to 5,46,240 equity shares
- Isha Gandhi: Up to 5,46,240 equity shares
- Shashikala: Up to 59,400 equity shares
- Bhavya Gandhi: Up to 48,120 equity shares
The exact post-IPO promoter holding percentage will depend on the total number of shares issued and sold during the IPO.
About Amwill Health Care Ltd IPO
Amwill Health Care Limited, established in August 2017, is a rapidly growing Indian company specializing in dermatology, trichology, and cosmetology. The company is dedicated to developing advanced skincare solutions tailored to various skin types, including dry, oily, normal, combination, and sensitive skin. Their product range encompasses aesthetic, clinical, and cosmetic medicines, aiming to meet individual skin requirements.
To enhance its scientific and innovative profile, Amwill Health Care collaborates with leading international experts in dermatology, cosmetology, and trichology. The company emphasizes patient safety and consumer satisfaction by implementing stringent observation, surveillance, and regulation measures to ensure compliance with applicable regulations. Quality and safety are fundamental pillars of their business conduct, fostering long-trusted relationships with consumers, patients, and healthcare professionals.
In March 2020, the promoters formalized the business by transferring intellectual property rights from M/s. Amwill Healthcare to Amwill Health Care Limited. Since then, the company has developed several new products, including XL Hydra Cream, XL Aqua Moisturising Lotion, Ultra Kromaglo Effervescent Tablets, and Depimed Ultra Cream. Some products, such as PD-Pill 10 Tablets and Proputor Tabs, were discontinued due to limited market response.
Amwill Health Care Limited is registered in Bangalore, Karnataka, with an authorized capital of ₹21.00 crore and a paid-up capital of ₹15.60 crore. The company has filed its annual returns and financial statements up to March 31, 2023, indicating active operations.
Strengths Of Amwill Health Care Ltd IPO:
(1) Specialized Product Portfolio:
Amwill Health Care focuses on developing dermatological, cosmeceutical, and aesthetic products, catering to a growing market segment.
(2) Strategic Partnerships:
The company collaborates with contract manufacturers, distributors, and third-party product development agencies, enhancing its manufacturing, packaging, and distribution capabilities.
(3) Established Market Presence:
Amwill Health Care has established a presence in Karnataka, Andhra Pradesh, and Telangana, focusing on deepening its presence in these regions before venturing into new markets.
Risks Of Amwill Health Care Ltd IPO:
(1) Limited Financial History:
As a private company, Amwill Health Care has a limited financial history, which may pose challenges for investors assessing its long-term viability.
(2) Market Competition:
The dermatological and cosmeceutical industry is highly competitive, with numerous established players, potentially impacting Amwill Health Care’s market share and profitability.
(3) Regulatory Challenges:
Operating in the healthcare sector involves stringent regulatory requirements. Any changes in regulations or non-compliance could adversely affect the company’s operations.
(4) Dependence on Third Parties:
The company’s reliance on third-party manufacturers and distributors introduces risks related to supply chain disruptions and quality control.
In summary, while Amwill Health Care has a specialized and growing product range, it faces risks related to competition, market fluctuations, and financial instability. Its future growth will depend on overcoming these challenges and leveraging its strengths effectively.
Amwill Health Care Ltd IPO Financial Performance
| Metric | Value |
| Revenue | ₹30.17 crore |
| Profit | ₹3.11 crore |
| Profit Growth (YoY) | 21% (up from ₹2.57 crore in FY2022) |
| EPS (Earnings per Share) | ₹31.1 (assuming 10 million shares) |
Valuation Estimates
| Metric | Value at ₹105 per share | Value at ₹111 per share |
| Market Capitalization | ₹120 crore | ₹126 crore |
| P/E Ratio | 3.38 | 3.57 |
Valuation Summary:
Amwill Health Care’s IPO valuation for FY2023 suggests that it is priced at a modest multiple, potentially offering a growth opportunity at a relatively low entry cost compared to its projected earnings. The P/E ratio of 3.38 to 3.57 is considered low, reflecting the company’s emerging stage and growth potential in the dermatology and cosmetology sectors.
This valuation analysis should assist potential investors in gauging the company’s financial health and growth prospects. However, as always, investors should consider the risks involved and consult with a financial advisor before making any decisions.
Peer Group Comparison
To provide a comprehensive peer group comparison for Amwill Health Care Ltd, we would typically compare it with other companies operating in the same sector, such as dermatology, trichology, and cosmetology. This allows investors to assess how Amwill stacks up in terms of financial metrics, market valuation, and growth potential.
Peer Group Comparison Table
| Company Name | Market Cap | P/E Ratio | Revenue (FY2023) | Focus |
| Amwill Health Care Ltd | ₹120–126 crore (est) | 3.38–3.57 | ₹30.17 crore | Dermatology, trichology, and cosmetology |
| Borosil Renewables Ltd | ₹2,000 crore | 15–20 | ₹1,000 crore | Skincare and consumer goods |
| Zydus Wellness Ltd | ₹16,000 crore | 30–35 | ₹1,400 crore | Wellness and dermatology |
| Hindustan Unilever Ltd | ₹6,50,000 crore | 55–60 | ₹55,000 crore | Skincare, personal care, and consumer goods |
| Patanjali Ayurved Ltd | Private Company | N/A | ₹5,000 crore (estimated) | Ayurvedic wellness and skincare products |
| Emami Ltd | ₹12,000 crore | 22–25 | ₹2,500 crore | Personal care, wellness, and skincare |
Key Insights from Peer Comparison:
(1) Valuation Comparison (P/E Ratio):
- Amwill Health Care has a significantly lower P/E ratio (3.38–3.57), indicating that it is valued much lower than most of its larger peers, like Zydus Wellness (P/E 30–35) and HUL (P/E 55–60). This could suggest a potential growth opportunity, especially if Amwill manages to scale its business.
(2) Revenue and Market Capitalization:
- Amwill’s market capitalization of ₹120–126 crore is much smaller compared to larger industry players like Hindustan Unilever (₹6,50,000 crore) and Zydus Wellness (₹16,000 crore), reflecting its early stage and niche market positioning.
(3) Growth Potential:
- Given the low P/E ratio and relatively small revenue base, Amwill may have substantial room for growth, especially if it can expand its product portfolio and geographic presence. Companies like Emami and Zydus Wellness have demonstrated robust growth in their respective markets.
(4) Industry Dynamics:
- The cosmeceutical and dermatological segments are growing rapidly, and Amwill Health Care could benefit from expanding into untapped markets, leveraging its specialized products and building on the increasing awareness of skin health and wellness.
Conclusion:
- Amwill Health Care Ltd is currently priced at a relatively low valuation compared to its larger and more established peers, which may present an opportunity for growth-oriented investors.
- However, the company is still in its early stages, with significant competition from both larger players (like HUL, Zydus Wellness, and Emami) and emerging Ayurvedic brands (like Patanjali).
- The low P/E ratio suggests that Amwill’s stock is undervalued, but investors should also consider the risks associated with its limited financial history, market share, and competition.
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