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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 ₹84.00 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). The minimum lot size investment for 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 Date | August 31, 2023 to September 5, 2023 |
| Listing Date | September 13, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹84 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 10,84,800 shares (aggregating up to ₹9.11 Cr) |
| Reserved for Market Maker | 54,400 shares Swastika Investmart Ltd. (aggregating up to ₹0.4570 Cr) |
| Net Offered to Public | 10,30,400 shares (aggregating up to ₹8.66 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 29,35,686 shares |
| Share Holding Post Issue | 40,20,486 shares |
Saroja Pharma Industries IPO offers total 10,84,800 shares. Out of which 5,15,200 (47.49%) allocated to NII, 5,15,200 (47.49%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 54,400 (5.01%) |
| NII (HNI) Shares Offered | 5,15,200 (47.49%) |
| Retail Shares Offered | 5,15,200 (47.49%) |
| Total Shares Offered | 10,84,800 (100.00%) |
Saroja Pharma IPO opens on August 31, 2023, and closes on September 5, 2023.
| IPO Open Date | Thu, Aug 31, 2023 |
| IPO Close Date | Tue, Sep 5, 2023 |
| Tentative Allotment | Fri, Sep 8, 2023 |
| Initiation of Refunds | Mon, Sep 11, 2023 |
| Credit of Shares to Demat | Tue, Sep 12, 2023 |
| Tentative Listing Date | Wed, Sep 13, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Sep 5, 2023 |
Investors can bid for a minimum of 1,600 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 | 1,600 | ₹1,34,400 |
| Retail (Max) | 1 | 1,600 | ₹1,34,400 |
| HNI (Min) | 2 | 3,200 | ₹2,68,800 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 822.39 | 1,551.19 | 2,133.99 |
| Total Income | 3,674.67 | 5,595.67 | 5,035.09 |
| Profit After Tax | 73.13 | 114.01 | 106.06 |
| Net Worth | 93.59 | 402.60 | 508.66 |
| Reserves and Surplus | 92.59 | 380.02 | 215.09 |
| Total Borrowing | 301.77 | 613.88 | 1,018.86 |
The market capitalization of Saroja Pharma IPO is ₹33.77 Cr.
| KPI | Values |
|---|---|
| ROE | 0.15% |
| ROCE | 0.25% |
| Debt/Equity | 2.00 |
| RoNW | 20.85% |
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
1. To Set-up a Manufacturing Unit.
2. To Repay the Unsecured Loans.
3. Public Issue Expenses.
[Dilip Davda] SPIIL is currently in the trading of specialty chemicals and pharma APIs. It has posted inconsistency in its financial performance for the reported periods. The company plans to enter manufacturing activities soon. However, the asking price appears to be greedy based on its financial data so far. The small equity post-IPO indicates longer gestation for migration to the mainboard. There is no harm in skipping this “High Risk/Low Return” bet. Read detail review...
| Listing Date | September 13, 2023 |
| BSE Script Code | |
| NSE Symbol | SAROJA |
| ISIN | INE0PCL01011 |
| Final Issue Price | ₹84 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹84.00 |
| Open | ₹65.00 |
| Low | ₹65.00 |
| High | ₹68.25 |
| Last Trade | ₹68.25 |
Saroja Pharma Industries India Ltd.
305, Kailash Tower, Shiv Shristi Complex,
Goregaon Link Road,
Mulund West,
Mumbai, Maharashtra, 400080
Phone: +91 (022) 2081 0011
Email: info@sarojapharma.com
Website: https://www.sarojapharma.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: spiil.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Saroja Pharma IPO is a SME IPO of 10,84,800 equity shares of the face value of ₹10 aggregating up to ₹9.11 Crores. The issue is priced at ₹84 per share. The minimum order quantity is 1600.
The IPO opens on August 31, 2023, and closes on September 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 August 31, 2023 and closes on September 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 Tuesday, September 12, 2023. Check the Saroja Pharma IPO allotment status.
The Saroja Pharma IPO listing date is on Wednesday, September 13, 2023.
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