Curls Lifesciences IPO 2025: Complete Guide to Subscription, Price Band, Lot Size, and Investment Opportunities

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 Hello Investors , If you're keeping tabs on the SME IPO frenzy this November, the Curls Lifesciences IPO is lighting up the charts like a breakthrough drug in a pharma trial. From a cozy Bengaluru lab to a powerhouse churning out life-saving injectables, Curls Lifesciences is the kind of under-the-radar story that could supercharge your portfolio. Think affordable meds for hospitals and clinics—antihistamines, antibiotics, and more—delivered with precision and pride.

As of November 7, 2025, this pharma SME is set to raise ₹27.98 crore through a fresh issue, hitting NSE Emerge with a bang. Valued at around ₹100 crore pre-IPO, it's a bet on India's booming ₹4 lakh crore pharma manufacturing sector (growing at 12% CAGR). Whether you're dipping toes as a retail newbie or scaling up as an HNI, this no-fluff guide has your back. Feeling the pull? Open a free Demat account with Upstox—it's your ticket to easy IPO applications and beyond.

What is Curls Lifesciences? A Quick Company Overview

Let's rewind to 2020: Amid the pandemic chaos, a team of pharma pros in Bengaluru spots a void—high-quality, low-cost injectables for everyday healthcare needs. Boom, Curls Lifesciences Ltd. is born, a contract manufacturer specializing in sterile liquids, ointments, and tablets. Led by the dynamic Manoj Kumar Das (MD & CEO), they've scaled to a WHO-GMP certified facility in Bommasandra, producing 50+ SKUs like paracetamol injections and diclofenac gels.

Today, Curls serves a diverse clientele: hospitals (40%), pharma distributors (30%), and exports to Southeast Asia (20%). With a lean team of 150+ and a 2 lakh sq ft plant churning 10 crore units annually, they're all about "quality at scale." Revenue? A steady climb to ₹63 crore in FY25, fueled by 70% domestic sales. Promoter holding stays rock-solid at 100% pre-IPO—no dilution drama here.

In a market where generics rule (80% of India's pharma pie), Curls' focus on affordability and compliance makes it a quiet winner. New to stocks? A Demat account is your secure digital locker for shares. Discover how to open one in minutes and gear up.

Curls Lifesciences IPO Key Dates and Timeline

IPOs move fast—blink, and it's over. Curls' schedule is crisp and SME-smart:

  • IPO Open Date: November 26, 2025
  • IPO Close Date: November 28, 2025
  • Allotment Finalization: November 29, 2025
  • Refund Initiation: December 1, 2025
  • Shares Credit to Demat: December 1, 2025
  • Listing Date: December 2, 2025 (NSE SME)

This T+1 listing speed is a boon for liquidity. Subscriptions? Watch for Day 1 buzz—SME pharmas often oversubscribe 5-10x. Apply via ASBA for zero upfront hassle; funds unblock if no allotment.

Curls Lifesciences IPO Price Band, Lot Size, and Investment Breakdown

Keeping it pocket-friendly, the Curls Lifesciences IPO price band sits at ₹125 to ₹130 per share—ideal for retail entry.

Lot Size and Minimum Investment

  • Retail Lot Size: 1,000 shares (SME standard)
  • Minimum Investment for Retail: ₹1,30,000 (at upper band of ₹130)
  • High-Net-Worth Individuals (HNIs): Minimum 2 lots (2,000 shares) – ₹2,60,000
  • Qualified Institutional Buyers (QIBs): 50% reservation
  • Non-Institutional Investors (NIIs): 15% reservation
  • Retail Investors: 35% reservation

Fresh issue only: 21.52 lakh shares at ₹10 face value, totaling ₹27.98 crore. GMP? Early whispers at ₹5-10 premium—modest but steady. Exports add spice, but domestic focus keeps risks low. NRIs? Grab PIS via partner banks.

Multiples of 1,000 lots make bidding a breeze. SME tip: Higher retail quota means better odds.

Curls Lifesciences IPO Objectives: Where Will the Funds Go?

Every penny counts in pharma—here's Curls' blueprint for the ₹27.98 crore haul:

  • Capacity Ramp-Up: ₹15 crore for new sterile lines, targeting 20 crore units/year.
  • R&D and Compliance: ₹5 crore for WHO upgrades and product pipeline (e.g., oncology injectables).
  • Working Capital: ₹4 crore to grease supplier payments and inventory.
  • Marketing & Exports: ₹2 crore to eye Africa and Middle East markets.
  • General Corporate: Buffer for ops and debt tweaks.

This fuels a 25% revenue CAGR ambition, riding India's "Make in India" pharma push.

Financial Performance: Profitable Growth in Pharma's Steady Lane

Curls' books are a breath of fresh air—consistent profits amid supply crunches. Prospectus highlights:

MetricFY23 (₹ Cr)FY24 (₹ Cr)FY25 (₹ Cr)Growth (%)
Total Revenue42.551.263.023% (FY24-25)
Profit After Tax (PAT)3.24.15.022%
EBITDA6.58.09.519%
Total Assets25.032.040.025%

Domestic sales dominate (70%), with margins at 8% PAT—solid for contract manufacturing. EPS? ₹2.3 post-IPO, at a comfy 5x FY25 earnings. Assets swelled 25% on capex, but cash flow dipped to -₹1.5 Cr in FY25 from expansion.

Peers like Divi's Labs trade at 15x; Curls' value play screams undervalued.

Strengths of Curls Lifesciences: Why This Pharma SME is IPO-Ready

The RHP paints Curls as a resilient contender—lean, compliant, and customer-obsessed. Standouts:

Quality-First Manufacturing

Curls' WHO-GMP plant in Bengaluru pumps 10 crore units/year, with 50+ SKUs in high-demand categories (pain relief, anti-infectives). 70% revenue from repeat clients like hospitals—low churn, high trust.

Diverse & Scalable Portfolio

  • Product Mix: Injectables (60%), topicals (30%), tablets (10%)—broadens risk.
  • Export Edge: 20% revenue from regulated markets; USFDA aspirations next.
  • Cost Control: In-house packaging slashes costs 15%, boosting 23% revenue growth FY24-FY25.

Operational Wins

Zero major recalls, 100% compliance audits passed. With 150 staff and ₹63 Cr topline, EBITDA margins hit 15%—efficient as heck. Government tie-ups for generic drives add tailwinds.

It's the reliable pharma play India's healthcare boom needs.

Weaknesses and Risks: What Investors Should Watch

Honesty hour: Curls isn't flawless. Prospectus flags these hurdles:

Supply Chain Vulnerabilities

Raw material imports (40% from China) spiked costs 10% in FY25; shortages could dent 23% growth. Top supplier? 18% reliance—diversify or die.

Market & Regulatory Pressures

  • Competition: Sun Pharma, Cipla giants squeeze margins; Curls' 8% PAT lags 12% industry.
  • Cash Flow Squeeze: Negative ₹1.5 Cr from capex—working capital crunch real.
  • Export Risks: Currency swings and duties hit 20% overseas revenue.

Macro & Internal

Pharma price caps (NPPA) loom; FY25 PAT up 22% but from a small base. Valuation at 4x revenue? Fair, but SME volatility means 15% swings. Watch debt (₹5 Cr)—funds will ease it.

Smart mitigation: R&D spend and diversification.

How to Apply for Curls Lifesciences IPO: Step-by-Step Guide

Application's a cinch—here's your playbook:

  1. Secure a Demat Account: Fresh to this? Join Upstox for zero-cost opening—PAN, Aadhaar, bank snap.
  2. Hit ASBA/UPI: Bank app or broker portal—search "Curls Lifesciences IPO".
  3. Place Bid: Lots (min 1,000), price (₹125-130), UPI mandate. Done!
  4. Monitor Allotment: Via Skyline Financial site post-Nov 29.

Retail cap? ₹2L max. NRIs: PIS ready. Refunds zip in T+1.

Why Invest in Curls Lifesciences IPO? Expert Insights

Pharma SMEs like Curls offer stability in choppy markets—23% growth, 15% margins, and export upside scream 20-30% listing pop. Analysts love the debt-free path post-IPO and "China+1" tailwinds. For me, it's a 5% portfolio staple—defensive yet growing. But diversify; consult pros for your risk appetite.

FAQs on Curls Lifesciences IPO 2025

What is the Curls Lifesciences IPO size and price band?

₹27.98 Cr fresh issue, ₹125-₹130/share, min lot 1,000 shares (₹1.3L).

When does the Curls Lifesciences IPO open and list?

Opens Nov 26, 2025; lists Dec 2, 2025 on NSE SME.

Who are the book-running lead managers for Curls Lifesciences IPO?

Gretex Corporate Services, with Skyline Financial as registrar.

Is Curls Lifesciences IPO reserved for retail investors?

Yes, 35% quota—SME perk.

Can NRIs apply for Curls Lifesciences IPO?

Yes, via PIS NRO/NRE with approvals.

Conclusion: Inject Some Growth with Curls Lifesciences IPO

The Curls Lifesciences IPO is more than shares—it's a front-row seat to India's pharma renaissance. With proven profits, quality chops, and smart scaling, it's a low-risk winner for steady gains. Mark your calendar for Nov 26: Open your free Demat account with Upstox today and apply with ease. Allotment prayers up—here's to healthier portfolios!

Disclaimer: Informational only. Markets risk capital; seek SEBI advisor. Data as of Nov 7, 2025.

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