Fixed Price IPO | ₹9 Cr | Listed at NSE SME | Thu, Aug 31, 2023 - Tue, Sep 5, 2023
Saroja Pharma IPO is a fixed price issue of ₹9.11 crores. The issue is entirely a fresh issue of 0.11 crore shares of ₹9.11 crore.
Saroja Pharma IPO bidding started from Aug 31, 2023 and ended on Sep 5, 2023. The allotment for Saroja Pharma IPO was finalized on Sep 8, 2023. The shares got listed on NSE SME on Sep 13, 2023.
Saroja Pharma IPO price is ₹84 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹1,34,400 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,68,800.
Swastika Investmart Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Swastika Investmart Ltd..
Refer to Saroja Pharma IPO RHP for detailed Information.
IPO Open
Thu, Aug 31, 2023
IPO Close
Tue, Sep 5, 2023
Issue Price
₹84 per share
Market Cap (Pre-IPO)
₹33.77 Cr
| IPO Date | 31 Aug to 5 Sep, 2023 |
| Listed on | Wed, Sep 13, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹84 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 10,84,800 shares (agg. up to ₹9 Cr) |
| Reserved for Market Maker | 54,400 shares Swastika Investmart Ltd. (agg. up to ₹0.4570 Cr) |
| Fresh Issue (Ex Market Maker) | 10,30,400 shares (agg. up to ₹9 Cr) |
| Net Offered to Public | 10,30,400 shares (agg. up to ₹9 Cr) |
| Share Holding Pre Issue | 29,35,686 shares |
| Share Holding Post Issue | 40,20,486 shares |
| NSE Symbol | SAROJA |
| ISIN | INE0PCL01011 |
Saroja Pharma IPO comprises a total issue size of 10,84,800 shares. The net offer to the public is 10,30,400 shares, after excluding 54,400 shares allotted on a firm basis. Of the Net offer 5,15,200 (50.00%) allocated to NII 5,15,200 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 5,15,200 | 50.00% | 47.49% |
| Retail Shares Offered | 5,15,200 | 50.00% | 47.49% |
| Firm Reservations | |||
| Market Maker Shares Offered | 54,400 | 5.01% | |
| Total Shares Offered | 10,84,800 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,34,400 |
| Retail (Max) | 1 | 1,600 | ₹1,34,400 |
| HNI (Min) | 2 | 3,200 | ₹2,68,800 |
Incorporated in 2019, Saroja Pharma Industries India Limited is engaged in trading, exporting and supplying Specialty Chemicals & API.
The company deals in three types of product categories:
1. Chemical, 2. Pharma Intermediary and 3. Veterinary Pharma API. The company supplies products such as Liquide Bromine, which is used as an agro-intermediate, Ethyl Acetate, which is used as an API solvent, and other pharmaceuticals used for human and veterinary drugs, and some of them are API solvents.
APIs, known as bulk drugs or bulk actives, are the principal ingredients used in making finished dosages in the form of capsules, tablets, liquid or other forms of dosage, with the addition of other APIs or inactive ingredients.
The company exports products mainly in Pakistan, Egypt, Russia, Jordan, Hong Kong, Singapore etc.
Competitive Strength:
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 21.34 | 15.51 | 8.22 |
| Total Income | 50.35 | 55.96 | 36.75 |
| Profit After Tax | 1.06 | 1.14 | 0.73 |
| NET Worth | 5.09 | 4.03 | 0.94 |
| Reserves and Surplus | 2.15 | 3.80 | 0.93 |
| Total Borrowing | 10.19 | 6.14 | 3.02 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To Set-up a Manufacturing Unit | 7.05 |
| 2 | To Repay the Unsecured Loans | 1.75 |
| KPI | Mar 31, 2023 |
|---|---|
| ROE | 15 |
| ROCE | 25 |
| Debt/Equity | 2.00 |
| RoNW | 20.85 |
| PAT Margin | 2.11% |
| EBITDA Margin | 5.73% |
| Price to Book Value | 4.85 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.61 | 2.64 |
| P/E (x) | 23.25 | 31.84 |
| Promoter Holding | 100.00% | 73.02% |
| Market Cap | ₹33.77 Cr. |
The Saroja Pharma IPO is subscribed 8.88 times on September 5, 2023 7:29:00 PM (Day 4). The public issue subscribed 14.83 times in the retail category, [.] times in the QIB category, and 2.90 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.90 | 5,15,200 | 14,94,400 |
| Retail | 14.83 | 5,15,200 | 76,40,000 |
| Total | 8.88 | 10,30,400 | 91,47,200 |
Total Applications: 4,775
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manger Fees including Underwriting Commission | 0.23 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable Advertising, Marketing Expenses and Printing Expenses | 0.03 |
| 4 | Fees Payable to Regulators including Stock Exchanges and other Intermediaries | 0.04 |
| 5 | Fees payable to Peer Review Auditor and other advisor | 0.01 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹84.00 |
| Open | ₹65.00 |
| Low | ₹65.00 |
| High | ₹68.25 |
| Last Trade | ₹68.25 |
Lead Manager Reports
Saroja Pharma IPO is a SME IPO of 10,84,800 equity shares of the face value of ₹10 aggregating up to ₹9 Crores. The issue is priced at ₹84 per share. The minimum order quantity is 1600.
The IPO opens on Thu, Aug 31, 2023, and closes on Tue, Sep 5, 2023.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Saroja Pharma IPO using UPI as a payment gateway. Zerodha customers can apply in Saroja Pharma IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Saroja Pharma IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Saroja Pharma IPO opens on Thu, Aug 31, 2023 and closes on Tue, Sep 5, 2023.
Saroja Pharma IPO lot size is 1600, and the minimum amount required for application is ₹1,34,400.
You can apply in Saroja Pharma 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 Saroja Pharma IPO will be done on Friday, September 8, 2023, and the allotted shares will be credited to your demat account by Tue, Sep 12, 2023. Check the Saroja Pharma IPO allotment status.
The Saroja Pharma IPO listing date is on Wed, Sep 13, 2023.
