Vaishali Pharma Ltd IPO (Vaishali Pharma IPO) Detail

August 7, 2017 - August 10, 2017

Vaishali Pharma IPO is a book built issue of Rs 14.23 crores.

Vaishali Pharma IPO bidding started from August 7, 2017 and ended on August 10, 2017. The shares got listed on NSE SME on August 22, 2017.

Vaishali Pharma IPO price band is set at ₹71 to ₹72 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹115,200.

Pantomath Capital Advisors Pvt Ltd is the book running lead manager of the Vaishali Pharma IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Refer to Vaishali Pharma IPO DRHP for detailed information.

Vaishali Pharma IPO Details

IPO Date	August 7, 2017 to August 10, 2017
Listing Date	August 22, 2017
Face Value	₹10 per share
Price Band	₹71 to ₹72 per share
Lot Size	1600 Shares
Total Issue Size	1,976,000 shares (aggregating up to ₹14.23 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME

Vaishali Pharma IPO Reservation

Vaishali Pharma IPO offers 1,976,000 shares. 988,000 (50.00%) to NII, 988,000 (50.00%) to RII.

Investor Category	Shares Offered
Anchor Investor Shares Offered	-
Market Maker Shares Offered	-	-
NII (HNI) Shares Offered	988,000 (50.00%)
Retail Shares Offered	988,000 (50.00%)
Total Shares Offered	1,976,000 (100%)

Vaishali Pharma IPO Lot Size

Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (Min)	1	1600	₹115,200
Retail (Max)	1	1600	₹115,200
Lot Size Calculator

About Vaishali Pharma Ltd

Incorporated in 2008, Vaishali Pharma Ltd is a pharmaceutical company engaged in pharmaceutical formulations, APIs, surgical products, veterinary supplements, herbal & nutraceutical products. They are operating both in domestic and export markets. They have also established office in the Vietnam. At present they are supplying in around 10 countries.

In domestic markets, they are majorly into trading of APIs whereas in export markets, they are into trading and marketing of APIs, formulations, surgical products and others. Recently they have applied for 186 registrations in 13 countries for some of their products and received 71 approvals from 7 countries.

They export Formulations, Surgical & APIs to Kenya, Sri Lanka, Russia, DR Congo, Myanmar, Tajikistan, Bangladesh, Kazakhstan, Cameroon, Jordan, Burkina -Faso, Nicaragua, Senegal, Pakistan, Ukraine, Yemen, Cambodia, Turkey, Congo, Zimbabwe, Ethiopia, Tanzania, Vietnam, Armenia, Costa Rica, Nigeria, C.A.R. and Guinea-Bissau.

Company Financials

Summary of financial Information (Consolidated)
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	4464.87	4941.31	4579.50	5342.97	4858.17
Total Revenue	6711.22	6989.13	9882.37	12156.90	11909.85
Profit After Tax	66.37	(3.03)	16.15	30.05	60.00

Objects of the Issue (Vaishali Pharma IPO Objectives)

The objects to the Issue are:

1. Working Capital requirements;
2. General Corporate Purposes.

Vaishali Pharma IPO Review (Avoid)

[Dilip Davda] Exorbitantly priced issue with declining top lines is a high risk bet, hence no harm in giving it a miss. Read detail review...

Vaishali Pharma IPO Subscription Status (Bidding Detail)

The Vaishali Pharma IPO is subscribed 1.89 times on August 10, 2017 5:00:00 PM. The public issue subscribed 1.91 times in the retail category, times in the QIB category, and 1.87 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category	Subscription (times)
NII	1.87
Retail	1.91
Total	1.89

Vaishali Pharma IPO Prospectus

› Vaishali Pharma IPO DRHP

Vaishali Pharma IPO Rating

3.5

Rating:

Vote Here ...

Vaishali Pharma IPO Listing Details

Listing Date	August 22, 2017
BSE Script Code
NSE Symbol	VAISHALI
ISIN	INE972X01014
Final Issue Price	₹72 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade

NSE SME
₹72.00
₹71.90
₹66.55
₹73.00
₹70.35

Check IPO Performance…

Vaishali Pharma Ltd Contact Details

Vaishali Pharma Ltd
706 to 709 7th Floor,
Aravali Business Centre,
Borivali(W) , Mumbai - 400092
Phone: + 91-22-28928833
Email: investor@vaishalipharma.com
Website: http://www.vaishalipharma.com

Vaishali Pharma IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html

Vaishali Pharma IPO - Buy or Not

Vaishali Pharma IPO Recommendation Summary

Review By	Subscribe	Neutral	Avoid
Brokers	0	0	1
Members	0	0	0

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Vaishali Pharma IPO Lead Manager(s)

Pantomath Capital Advisors Pvt Ltd (Past IPO Performance)

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Vaishali Pharma IPO FAQs

Vaishali Pharma IPO is a SME IPO of 1,976,000 equity shares of the face value of ₹10 aggregating up to ₹14.23 Crores. The issue is priced at ₹71 to ₹72 per share. The minimum order quantity is 1600 Shares.

The IPO opens on August 7, 2017, and closes on August 10, 2017.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

The Vaishali Pharma IPO opens on August 7, 2017 and closes on August 10, 2017.

Vaishali Pharma IPO lot size is 1600 Shares, and the minimum amount required is ₹115,200.

You can apply in Vaishali Pharma IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Vaishali Pharma IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Vaishali Pharma IPO allotment status.

The Vaishali Pharma IPO listing date is on August 22, 2017.

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Vaishali Pharma IPO Message Board

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30 Comments

Stock Discussion

22. Jon snow | Link | Bookmark |September 20, 2017 6:22:12 PM

Worth investing under HNI ? Please advise.

21. Chandumench | Link | Bookmark |August 14, 2017 1:54:46 PM

Listing kab hai.....

20. dipak | Link | Bookmark |August 13, 2017 7:53:33 AM

Anyone have any knowledge regarding metropolitan stock exchange (msei) unlisted shares which are available at 2.5rs and what can b the future of the company....kindly suggest@septa eagle eye and all the knowledge person

19. DownriteVJ | Link | Bookmark |August 10, 2017 1:55:37 PM

IPO Guru (1400+ Posts, 1200+ Likes)

77%

18. DownriteVJ | Link | Bookmark |August 9, 2017 5:46:08 PM

IPO Guru (1400+ Posts, 1200+ Likes)

60% subscribed. Good.

17. PKP Gotka Mrt | Link | Bookmark |August 9, 2017 5:17:12 PM

Subscription report?
Vaisala Pharma and
Ashok masala

16. ~~STOCKT~~ | Link | Bookmark |August 9, 2017 12:50:20 PM

Pathetic .sales and profits decreasing and asking such high pe .not even worth 40 rs
Stay away
Also looking at such high subscription of recent sme not performing well this one doesn''t e even worth looking at

15. ~~ANUJ TAHLAN~~ | Link | Bookmark |August 4, 2017 8:20:36 AM

NEW IN IPO PLZZZ TELL ME ABOUT SME
WHERE I INVEST MY MONEY
IN WHICH IPO I CAN APPLY FOR GOOD PROFIT I HAVE LIMITED FUNDS

15.1. Mumbai DON | Link | Bookmark |August 4, 2017 5:10:26 PM (200+ Posts, 200+ Likes)

To enter in current market is little bit risky as u r new.so better go for mutual fund or sip .

14. Prabhakaran Kuppusamy | Link | Bookmark |July 31, 2017 6:24:18 PM (400+ Posts, 300+ Likes)

Pros:
ROE/ROCE is at PAR
Cons:
D/E is dangerously going beyond 6
Cash flow is mixed
Sales is decreasing gradually (but the net is increasing) - confusing

There is nothing positive about this issue.
Even if the issue price is below 50, I wouldn''t have subscribed to this.

Load more comments (5 replies)

14.6. ~~SecTheta~~ | Link | Bookmark |August 3, 2017 8:00:32 PM

Lexus apply and rest avoid

14.7. Hiro Devrani | Link | Bookmark |August 3, 2017 9:45:21 PM

Thank you sec theta sir

13. sento | Link | Bookmark |August 3, 2017 3:49:51 PM

Vaishali Pharma Ltd IPO good or not

12. Ankitxyz | Link | Bookmark |August 1, 2017 12:31:15 AM (300+ Posts, 300+ Likes)

Prabhakaran Kuppusamy

I completely agree with you, there is nothing positive about this company. The story of Radhika Jeweltech Ltd is likely to get repeated. There is negative growth in revenue,PAT,EBITDA and cash flows. Rational investors will not apply in this IPO.

11. Hiren K. | Link | Bookmark |July 31, 2017 6:49:57 PM

Upcoming SME IPO LEXUS GRANITO..on 9th Aug.

10. Prabhakaran Kuppusamy | Link | Bookmark |July 31, 2017 6:19:20 PM (400+ Posts, 300+ Likes)

Key operating ratios

Year end      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
EPS(Rs)      2.21      -      3.23      6.01      12.00
Book value(Rs)      12.90      64.09      64.70      61.47      55.46
CEPS(Rs)      3.03      6.80      12.20      6.80      12.60
NPM(%)      1.00      -0.04      0.17      0.25      0.51
OPM(%)      6.63      5.59      4.20      2.77      1.57
ROCE(%)      16.07      12.75      13.97      19.13      14.68
ROE(%)      18.67      -0.93      5.07      10.27      21.66
Debt/equity      6.22      7.16      6.95      4.86      3.47
Interest cover      1.32      1.00      1.04      1.23      1.95

9. Prabhakaran Kuppusamy | Link | Bookmark |July 31, 2017 6:19:04 PM (400+ Posts, 300+ Likes)

Cash flow analysis(Rs.in Crs.)
Year end      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
NOPAT      2.70      -      3.75      1.62      1.23
Operating cash flow      0.85      4.59      -3.72      -7.04      3.80
Free cash flow      0.86      4.67      -2.19      -6.56      3.81

8. Prabhakaran Kuppusamy | Link | Bookmark |July 31, 2017 6:18:49 PM (400+ Posts, 300+ Likes)

Key financials (Rs.in Crs.)
Year end      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
Net sales      66.05      66.71      94.56      120.71      118.81
Operating profit      4.38      3.73      3.97      3.34      1.86
Net profit      0.66      -0.03      0.16      0.30      0.60
Equity cap pd      3.00      0.50      0.50      0.50      0.50

7. Prabhakaran Kuppusamy | Link | Bookmark |July 31, 2017 6:18:27 PM (400+ Posts, 300+ Likes)

Variance (Half Yearly)
Year      201703      201603      Var(%)
Type      Full Year      Full Year
Sales Turnover      66.05      66.71      -0.99
Other Income      1.06      3.18      -66.67
Total Income      67.11      69.89      -3.98
Total Expenditure      62.73      66.16      -5.18
Operating Profit      4.38      3.73      17.43
Interest      3.12      3.37      -7.42
Gross Profit      1.26      0.36      250.00
Depreciation      0.25      0.37      -32.43
Tax      0.36      0.04      800.00
Reported PAT      0.66      -0.03      N.A.
Dividend (%)      0.00      0.00      N.A.

6. Prabhakaran Kuppusamy | Link | Bookmark |July 31, 2017 6:17:59 PM (400+ Posts, 300+ Likes)

P & L Account(Rs.in Crs.)

Year      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
Sales Turnover      66.05      66.71      94.56      120.71      118.81
Other Income      1.06      3.18      4.26      0.86      0.29
Stock Adjustments      -2.21      0.04      -4.83      2.80      -0.44
Total Income      64.90      69.93      93.99      124.37      118.66
Raw Materials      55.22      62.07      86.42      117.03      113.11
Excise Duty      0.00      0.00      0.00      0.00      0.00
Power & Fuel Cost      0.00      0.00      0.00      0.00      0.00
Other Manufacturing Expenses      0.00      0.00      0.00      0.00      0.00
Employee Cost      1.58      1.56      1.85      2.00      1.19
Selling and Administration Expenses      0.00      0.00      0.00      0.00      0.00
Miscellaneous Expenses      3.73      2.57      1.75      2.01      2.49
Less: Preoperative Expenditure Capitalised      0.00      0.00      0.00      0.00      0.00
Profit before Interest, Depreciation & Tax      4.38      3.73      3.97      3.34      1.86
Interest & Financial Charges      3.12      3.37      3.37      2.68      0.94
Profit before Depreciation & Tax      1.26      0.36      0.60      0.66      0.92
Depreciation      0.25      0.37      0.45      0.04      0.03
Profit Before Tax      1.01      0.00      0.15      0.61      0.89
Tax      0.35      0.03      -0.01      0.31      0.29
Profit After Tax      0.66      -0.03      0.16      0.30      0.60
Adjustment below Net Profit      -2.50      0.00      0.00      0.00      0.00
P & L Balance brought forward      2.70      2.74      2.57      2.27      1.67
Appropriations      0.00      0.00      0.00      0.00      0.00
P & L Bal. carried down      0.87      2.70      2.74      2.57      2.27
Equity Dividend      0.00      0.00      0.00      0.00      0.00
Preference Dividend      0.00      0.00      0.00      0.00      0.00
Corporate Dividend Tax      0.00      0.00      0.00      0.00      0.00
Equity Dividend (%)      0.00      0.00      0.00      0.00      0.00
Earning Per Share (Rs.)      2.21      0.00      3.23      6.01      12.00
Book Value      12.90      64.09      64.70      61.47      55.46
Extraordinary Items      0.00      0.00      0.00      0.00      0.00

5. Prabhakaran Kuppusamy | Link | Bookmark |July 31, 2017 6:17:35 PM (400+ Posts, 300+ Likes)

Balance Sheet(Rs.in Crs.)

Year      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
Share Capital      3.00      0.50      0.50      0.50      0.50
Reserves & Surplus      0.87      2.70      2.74      2.57      2.27
Total Shareholders Funds      3.87      3.20      3.24      3.07      2.77
Secured Loans      17.24      15.29      15.83      15.77      6.81
Unsecured Loans      5.88      5.92      9.40      3.10      2.88
Total Debt      23.12      21.21      25.23      18.87      9.69
Total Liabilities      26.99      24.41      28.47      21.94      12.46
Gross Block      2.51      2.51      2.42      0.54      0.43
Less: Accum. Depreciation      1.36      1.11      0.74      0.29      0.25
Net Block      1.15      1.40      1.68      0.25      0.18
Capital Work in Progress      0.00      0.00      0.00      0.36      0.00
Investments      0.38      0.38      0.38      0.17      0.00
Inventories      1.15      3.36      3.32      8.15      5.34
Sundry Debtors      37.91      40.42      34.36      38.20      37.64
Cash and Bank Balance      1.07      1.05      1.01      1.01      1.80
Loans and Advances      2.99      2.82      5.05      5.30      3.62
Current Liabilities      16.96      24.69      17.18      31.21      35.91
Provisions      0.70      0.31      0.16      0.29      0.20
Net Current Assets      25.46      22.65      26.40      21.16      12.29
Miscellaneous Expenses not w/o      0.00      0.00      0.00      0.00      0.00
Total Assets      26.99      24.43      28.46      21.94      12.47
Contingent Liabilities      0.34      0.38      0.32      0.32      0.32

4. Prabhakaran Kuppusamy | Link | Bookmark |July 31, 2017 6:17:04 PM (400+ Posts, 300+ Likes)

Capital History
Year      Equity Capital       Remarks
201705      4.615385        Loan Conversion
201703      3        Bonus Issue
201212      0.5        Loan Conversion
201003      0.1        Bonus Issue
200805      0.01        Subscriber to MOA

3. ~~SecTheta~~ | Link | Bookmark |July 31, 2017 11:03:57 AM

Loss in business last to last year and suddenly huge profit in last year (For IPO purpose only?)....
A BIG AVOID....Shame on Pantomath for bringing such companies to the market to trap innocent retail investors.
My Recommendation => STAY AWAY! Lots of better opportunities are in pipeline.

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