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Sorich Foils Limited IPO (Sorich Foils IPO) Detail

May 24, 2018 - May 25, 2018

Incorporated in 2011, Gujarat based Sorich Foils Private Limited is a company engaged in manufacturing and supplying a varied range of Aluminium Foils for Blister, Strip Foils, Cold Forming Foil, Coated Glassine Paper for Blister, Laminated Glassine Paper for Strip Pack, Child Resistant (CR) Foils, Aluminium Lid Foils, Triple Laminates, Flexible Packaging for Pharma & Food Industries, also FMCG packaging materials. These products are widely applicable in different industries such as Pharmaceutical Industries, FMCG packaging, Food and dairy industries, Confectionery / Chocolate industries & Personal Care Packaging.

The manufacturing facilities of the Company is currently located in Valsad, Gujrat. The company has 38 employees on its payroll.

Company Promoters:

The company is promoted by Chandrahas Kotian. He currently holds 27,48,024 Equity Shares, constituting 47.11% of the pre - Issue issued, subscribed and paid-up equity share capital of the Company.

Company Financials:

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Lakhs)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 1,599.39 1,663.38 1,528.47 959.68 956.16
Total Revenue 2,659.08 2,689.88 2,506.66 2,285.93 1,963.30
Profit After Tax 32.85 18.86 22.48 20.37 23.96

Objects of the Issue:

The Objects of the Issue are-
1. Part Repayment/prepayment of Unsecured Loans availed by the Company; and
2. General corporate purposes.

Issue Detail:

  »»  Issue Open: May 24, 2018 - May 25, 2018
  »»  Issue Type: Fixed Price Issue IPO
  »»  Issue Size: 2,500,000 Equity Shares of Rs 10 aggregating up to Rs 4.00 Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs 16 Per Equity Share
  »»  Market Lot: 8000 Shares
  »»  Minimum Order Quantity: 8000 Shares
  »»  Listing At: NSE SME

Sorich Foils IPO Reviews / Recommendations:

Dilip Davda - Avoid


IPO Notices

External Link

Sorich Foils IPO Withdrawn

Date: Mat 26, 2018

Sorich Foils IPO has been withdrawn. As per the notice received by NSE "The management has envisaged a project for which the capital requirements will be difficult than what is contemplated from the current IPO and hence evaluating other fund-raising options. Secondly, in view of the tepid response for our IPO, the Board feels the time is not apt presently to take our company public and in view of this our Board of Directors met today morning and has unanimously deceived to withdraw the IPO."

Sorich Foils IPO Subscription Status / Live Bidding Status

Sorich Foils IPO Subscription Status tells if Sorich Foils IPO subscribed or not. Investors can bid for IPO shares between 10 AM to 5 PM when public issue is open. Sorich Foils IPO oversubscribed if bids are received for more shares than what is offered by the company.

Sorich Foils IPO - How Many Times Subscribed?
Number of Bids Received
As on Date & TimeQIBNIIRIIOthersTotal
Shares Offered / Reserved01,150,0001,150,000200,0002,500,000
Day 1 - May 24, 2018 17:00 IST0264,00088,000-352,000
Day 2 - May 25, 2018 17:00 IST0264,000152,000-416,000

Sorich Foils IPO Prospectus

Sorich Foils IPO Rating

Rating:Rated 3.7 stars

Vote Here ...

Sorich Foils IPO News Alerts

  1. Monday, May 28, 2018 12:00:00 AM
    Sorich Foils IPO Closes on May 28, 2018
  2. Thursday, May 24, 2018 12:00:00 AM
    Sorich Foils IPO Opens on May 24, 2018

Company Contact Information

Sorich Foils Limited
Plot No. 4802/1, Plastic Zone
GIDC, Sarigam, Tal: Umbergaon,
Dist: Valsad, Gujrat-396155
Phone: +91 260 2780670

Sorich Foils IPO Registrar

Link Intime India Private Ltd   »  Report
   Link Intime India Private Ltd,
   C-13 Pannalal Silk Mills Compound,
   LBS Marg, Bhandup West, Mumbai 400078

Phone: +91-22-25963838
Fax: +91-22-25946969

Sorich Foils IPO Lead Manager(s)

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Sorich Foils IPO Review / Comments

7. Small Investor  May 29, 2018 5:00:23 PM IST I Like It. | Report Abuse Reply
Company ki okat nhi h IPO lane ki
6. Hiteshji  May 27, 2018 6:45:42 PM IST I Like It. | Report Abuse Reply
Must apply to this ipo. Will get very good returns. This one is fancy among all ipos of current month.
6.1. anujsme  May 28, 2018 10:10:41 AM IST I Like It. 2 | Report Abuse
aap bhar lo saare stocks sme mein apply karne ko kyon bolte ho.
koi aisa sme bhi hai jo aapko pasand nahi aata :)

waise most of recent listed sme are down
6.2. anujsme  May 28, 2018 1:31:43 PM IST I Like It. | Report Abuse
Hiteshji aapka toh issue hi cancel hogaya. lol
5. black & white hat  May 21, 2018 1:44:51 PM IST I Like It. 1 | Report Abuse Reply
the LM-saffron performance is not good even well valued ipo issued by it not performing well.
5.1. Anupindi Chakradhar  May 23, 2018 2:50:31 PM IST I Like It. 2 | Report Abuse
I applied in ipo in previous issue , I got superlative profits. current price is a temporary blip and is a good price to enter
5.2. black & white hat  May 28, 2018 1:21:28 PM IST I Like It. 1 | Report Abuse
@anupindi my point of view is that LM may cooked up the balance sheet to make it attractive as you know CADsys looks good but result is misleading. so CADsys gave listing gain as there is no history of LM and it looks promising company. but as this one was LM's second issue every investor will not take risk and listing gain may not be possible.

Also the LM cann't take benefit of happening/news of acquisition of US co. by CADsys as there was no time gap between result date and news date!!!!. it looks mismanagement....
4. v for vendetta  May 28, 2018 12:22:59 PM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
Issue has been withdrawn by Company.
Withdrawal letter is attached at NSE SME website link for this IPO.
3. v for vendetta  May 28, 2018 11:57:36 AM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
Sorich Foils Limited      24-May-2018      25-May-2018      Closed      

above from NSE SME website.
3.2. v for vendetta  May 28, 2018 12:04:41 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
I don't know, it's surprising.
3.3. anujsme  May 28, 2018 12:11:51 PM IST I Like It. | Report Abuse
It cant be closed

must have been issue is cancelled. must have been some obligation
2. DownriteVJ  May 28, 2018 10:30:11 AM IST I Like It. 1 | Report Abuse Reply
IPO Mentor IPO Mentor (800+ Posts, 600+ Likes)
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1. winvest  May 24, 2018 10:30:10 AM IST I Like It. 2 | Report Abuse Reply
I am happy that investors and promoters have put money 6 cr pre ipo at the issue price of 16
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