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Evoq Remedies IPO is a fixed price issue of ₹9.72 crores. The issue is entirely a fresh issue of 0.36 crore shares of ₹9.72 crore.
Evoq Remedies IPO bidding started from Mar 17, 2022 and ended on Mar 22, 2022. The allotment for Evoq Remedies IPO was finalized on Mar 25, 2022. The shares got listed on BSE SME on Mar 30, 2022.
Evoq Remedies IPO price is ₹27.00 per share . The lot size for an application is 4,000. The minimum amount of investment required by an individual investor (retail) is ₹1,08,000 (4000 shares). The minimum lot size investment for HNI is 2 lots (8,000 shares), amounting to ₹2,16,000.
Swastika Investmart Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Sunflower Broking Pvt.Ltd..
Refer to Evoq Remedies IPO RHP for detailed Information.
| IPO Date | March 17, 2022 to March 22, 2022 |
| Listing Date | March 30, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹27 per share |
| Lot Size | 4,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 36,00,000 shares (aggregating up to ₹9.72 Cr) |
| Reserved for Market Maker | 1,80,000 shares Sunflower Broking Pvt.Ltd. (aggregating up to ₹0.4860 Cr) |
| Net Offered to Public | 34,20,000 shares (aggregating up to ₹9.23 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,00,00,000 shares |
| Share Holding Post Issue | 1,36,00,000 shares |
Evoq Remedies IPO offers total 36,00,000 shares. Out of which 17,10,000 (47.50%) allocated to NII, 17,10,000 (47.50%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,80,000 (5.00%) |
| NII (HNI) Shares Offered | 17,10,000 (47.50%) |
| Retail Shares Offered | 17,10,000 (47.50%) |
| Total Shares Offered | 36,00,000 (100.00%) |
Evoq Remedies IPO opens on March 17, 2022, and closes on March 22, 2022.
| IPO Open Date | Thu, Mar 17, 2022 |
| IPO Close Date | Tue, Mar 22, 2022 |
| Tentative Allotment | Fri, Mar 25, 2022 |
| Initiation of Refunds | Mon, Mar 28, 2022 |
| Credit of Shares to Demat | Tue, Mar 29, 2022 |
| Tentative Listing Date | Wed, Mar 30, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Mar 22, 2022 |
Investors can bid for a minimum of 4,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4,000 | ₹1,08,000 |
| Retail (Max) | 1 | 4,000 | ₹1,08,000 |
| HNI (Min) | 2 | 8,000 | ₹2,16,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2010, EVOQ Remedies Limited specializes in offering quality Pharmaceuticals Raw Material products, Excipients, and Bulk Drugs at an affordable prices. The company procures all the products from WHO-GMP certified & reliable Manufacturers & Importers, who follow procedures as per the stringent national and international quality and safety standards.
Competitive strengths:
| Particulars | For the year/period ended (Rs in Lakh) | ||||
|---|---|---|---|---|---|
| 10-Feb-22 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | ||
| Total Assets | 2660.58 | 804.63 | 565.22 | 214.78 | |
| Total Revenue | 1056.58 | 1002.48 | 907.21 | 325 | |
| Profit After Tax | 93.67 | 71.38 | 0.03 | 1.11 | |
The market capitalization of Evoq Remedies IPO is ₹36.72 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 33.75 |
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
[Dilip Davda] The company has posted a lacklustre performance so far. The sudden boost in bottom lines since FY21 onwards appears window dressing to pave the way for fancy pricing of this IPO. The sustainability of such performance going forward is a major concern. Based on its financial parameters, the issue is aggressively priced. It is operating on third party deals only and has no assets. Considering all these, there is no harm in ignoring this highly-priced IPO. Read detail review...
| Listing Date | March 30, 2022 |
| BSE Script Code | 543500 |
| NSE Symbol | |
| ISIN | INE0JVD01011 |
| Final Issue Price | ₹27 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹27.00 |
| Open | ₹25.00 |
| Low | ₹23.75 |
| High | ₹25.00 |
| Last Trade | ₹23.75 |
Evoq Remedies Ltd.
A-1106, Empire Business Hub
Near AUDA Water Tank,
Science City Road, Sola,
Ahmedabad, Gujarat, 380060
Phone: 7948402525
Email: info@evoqremedies.com
Website: http://www.evoqremedies.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Evoq Remedies IPO is a SME IPO of 36,00,000 equity shares of the face value of ₹10 aggregating up to ₹9.72 Crores. The issue is priced at ₹27 per share. The minimum order quantity is 4000.
The IPO opens on March 17, 2022, and closes on March 22, 2022.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Evoq Remedies IPO using UPI as a payment gateway. Zerodha customers can apply in Evoq Remedies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Evoq Remedies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Evoq Remedies IPO opens on March 17, 2022 and closes on March 22, 2022.
Evoq Remedies IPO lot size is 4000, and the minimum amount required for application is ₹1,08,000.
You can apply in Evoq Remedies IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Evoq Remedies IPO will be done on Friday, March 25, 2022, and the allotted shares will be credited to your demat account by Tuesday, March 29, 2022. Check the Evoq Remedies IPO allotment status.
The Evoq Remedies IPO listing date is on Wednesday, March 30, 2022.
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