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Sudarshan Pharma Industries IPO is a book build issue of ₹50.10 crores. The issue is entirely a fresh issue of 0.69 crore shares of ₹50.10 crore.
Sudarshan Pharma Industries IPO bidding started from Mar 9, 2023 and ended on Mar 14, 2023. The allotment for Sudarshan Pharma Industries IPO was finalized on Mar 17, 2023. The shares got listed on BSE SME on Mar 22, 2023.
Sudarshan Pharma Industries IPO price band is set at ₹73.00 per share . The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,13,600 (1600 shares). The minimum lot size investment for HNI is 2 lots (3,200 shares), amounting to ₹2,33,600.
Gretex Corporate Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The market maker of the company is Gretex Share Broking Pvt.Ltd..
Refer to Sudarshan Pharma Industries IPO RHP for detailed Information.
| IPO Date | March 9, 2023 to March 14, 2023 |
| Listing Date | March 22, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹71 to ₹73 per share |
| Issue Price Final | ₹73 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 68,62,400 shares (aggregating up to ₹50.10 Cr) |
| Reserved for Market Maker | 3,44,000 shares Gretex Share Broking Pvt.Ltd. (aggregating up to ₹2.51 Cr) |
| Net Offered to Public | 65,18,400 shares (aggregating up to ₹47.58 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 95,46,998 shares |
| Share Holding Post Issue | 1,29,86,998 shares |
Sudarshan Pharma Industries IPO offers total 68,62,400 shares. Out of which 13,02,400 (18.98%) allocated to QIB, 5,21,600 (7.60%) allocated to QIB, 15,64,800 (22.80%) allocated to NII, 36,51,200 (53.21%) allocated to RII and 7,80,800 (11.38%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,44,000 (5.01%) |
| QIB Shares Offered | 13,02,400 (18.98%) |
| − Anchor Investor Shares Offered | 7,80,800 (11.38%) |
| − QIB (Ex. Anchor) Shares Offered | 5,21,600 (7.60%) |
| NII (HNI) Shares Offered | 15,64,800 (22.80%) |
| Retail Shares Offered | 36,51,200 (53.21%) |
| Total Shares Offered | 68,62,400 (100.00%) |
Sudarshan Pharma Industries IPO raises ₹5.70 crore from anchor investors. Sudarshan Pharma Industries IPO Anchor bid date is March 8, 2023. Sudarshan Pharma Industries IPO Anchor Investors list
| Bid Date | March 8, 2023 |
| Shares Offered | 7,80,800 |
| Anchor Portion Size (In Cr.) | 5.70 |
| Anchor lock-in period end date for 50% shares (30 Days) | April 16, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | June 15, 2023 |
Sudarshan Pharma Industries IPO opens on March 9, 2023, and closes on March 14, 2023.
| IPO Open Date | Thu, Mar 9, 2023 |
| IPO Close Date | Tue, Mar 14, 2023 |
| Tentative Allotment | Fri, Mar 17, 2023 |
| Initiation of Refunds | Mon, Mar 20, 2023 |
| Credit of Shares to Demat | Tue, Mar 21, 2023 |
| Tentative Listing Date | Wed, Mar 22, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Mar 14, 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 | ₹1,16,800 |
| Retail (Max) | 1 | 1,600 | ₹1,16,800 |
| HNI (Min) | 2 | 3,200 | ₹2,33,600 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2008, Mumbai based Sudarshan Pharma Industries Limited (SPIL) has a contract manufacturing facility to source and supply generic formulations. It is also engaged in import & export activities, and supply of specialty chemicals, API (Active Pharmaceutical Ingredients), and Intermediates. Based on clients' specifications and requirements, they outsource the manufacturing facility from the suppliers in India and abroad.
The generic products supplied by the company have a wide application in paint, food, pharma, and adhesive industry. The company is involved in a contract manufacturing facility, supply and outsource of medicines and pharma formulation to hospitals, NGO, government and healthcare institutes. SPIL has 50 pharma formulations which are supplied under the brand name in the form of tablets, ointment, capsules, and injectable.
The company has its own sales force and distribution network in 5 states for ethical marketing of pharmaceutical formulation & products under the brand name in Indian and international markets. It also offers formulation development and QC services and provides customised solutions.
The competitive strengths of the company are:
1. Customer-centric and order-driven business model
2. Wide range of product offerings
3. Contract manufacturing facility arrangements
4. Strong distribution, marketing, and sales network
5. Diversified business operations
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-21 | 9,926.02 | 19,372.82 | 267.12 | 2,250.74 | 1,296.05 | 2,977.09 |
| 31-Mar-22 | 13,752.18 | 35,755.89 | 530.37 | 2,977.53 | 2,002.63 | 3,059.24 |
| 30-Sep-22 | 16,402.22 | 19,589.87 | 360.70 | 5,108.79 | 3,996.89 | 4,940.50 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Sudarshan Pharma Industries IPO is ₹175.68 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 24.33 |
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
[Dilip Davda] SPIL which failed to sail through its maiden IPO in June 2019 is trying for the second time for nearly double the amount. It is spending whooping Rs. 7.90 cr. (over 10 times projected for the first try) for this IPO process. It has changed the lead manager for this offer and the list of listed peers. Higher borrowings (Rs. 49.41 cr.), and tax notices of Rs. 7.41 cr. (excluding interest/penalty thereon) raises concern. Though it has posted growth in its financial data, it is fully mirrored including the near-term positives in the asking price. Off late we are witnessing a faded out of fancy for the pharma/healthcare segment post-pandemic. There is no harm in skipping this “High-Risk/Low-Return” bet. Read detail review...
| Listing Date | March 22, 2023 |
| BSE Script Code | 543828 |
| NSE Symbol | |
| ISIN | INE00TV01015 |
| Final Issue Price | ₹73 per share |
| BSE Listing Group | M |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹73.00 |
| Open | ₹73.00 |
| Low | ₹69.35 |
| High | ₹73.25 |
| Last Trade | ₹69.35 |
Sudarshan Pharma Industries Ltd.
301,3rd Floor, Aura Biplex,
Above Kalyan Jewellers S. V. Road, Borivali (West)
Mumbai - 400092
Mumbai, Maharashtra
Phone: 022- 42221111
Email: compliance@sudarshanpharma.com
Website: http://www.sudarshanpharma.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://ipostatus.kfintech.com/
Sudarshan Pharma Industries IPO is a SME IPO of 68,62,400 equity shares of the face value of ₹10 aggregating up to ₹50.10 Crores. The issue is priced at ₹73 per share. The minimum order quantity is 1600.
The IPO opens on March 9, 2023, and closes on March 14, 2023.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Sudarshan Pharma Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Sudarshan Pharma Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sudarshan Pharma Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sudarshan Pharma Industries IPO opens on March 9, 2023 and closes on March 14, 2023.
Sudarshan Pharma Industries IPO lot size is 1600, and the minimum amount required for application is ₹1,16,800.
You can apply in Sudarshan Pharma Industries 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 Sudarshan Pharma Industries IPO will be done on Friday, March 17, 2023, and the allotted shares will be credited to your demat account by Tuesday, March 21, 2023. Check the Sudarshan Pharma Industries IPO allotment status.
The Sudarshan Pharma Industries IPO listing date is on Wednesday, March 22, 2023.
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