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Curis Lifesciences IPO underlines momentum toward formulation-led small-cap pharma scaling
This IPO provides another test case of public willingness to reward niche high-margin formulation led biotech commercial models in India’s expanding SME pharma issuance stack.
₹27.52 crore is being raised through Curis Lifesciences IPO via fresh issue of 21.5 lakh shares without OFS leakage. The business model leans on formulation-driven niche pharma where low incremental capex and higher gross margin structures enable non-linear orderbook compounding faster than API arbitrage commodity cycles. Investors say this issue is another signal that public markets continue allocating premium to specialised biotech commercial models rather than legacy generic factories. The IPO outcome will help benchmark small-cap pharma credibility and pricing conviction inside India’s SME issuance stack.