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Saroja Pharma Industries IPO is a fixed price issue of Rs 9.11 crores. The issue is entirely a fresh issue of 10.85 lakh shares.
Saroja Pharma Industries IPO bidding started from August 31, 2023 and ended on September 5, 2023. The allotment for Saroja Pharma Industries IPO was finalized on Friday, September 8, 2023. The shares got listed on NSE SME on September 13, 2023.
Saroja Pharma Industries IPO price is ₹84 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹134,400. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹268,800.
Swastika Investmart Ltd is the book running lead manager of the Saroja Pharma Industries IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Saroja Pharma Industries IPO is Swastika Investmart.
Refer to Saroja Pharma Industries IPO RHP for detailed information.
| IPO Date | August 31, 2023 to September 5, 2023 |
| Listing Date | September 13, 2023 |
| Face Value | ₹10 per share |
| Price | ₹84 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 1,084,800 shares (aggregating up to ₹9.11 Cr) |
| Fresh Issue | 1,084,800 shares (aggregating up to ₹9.11 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 2,935,686 |
| Share holding post issue | 4,020,486 |
| Market Maker portion | 54,400 shares Swastika Investmart |
Saroja Pharma Industries IPO offers 1,084,800 shares. 515,200 (47.49%) to NII, 515,200 (47.49%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 54,400 (5.01%) |
| Other Shares Offered | 515,200 (47.49%) |
| Retail Shares Offered | 515,200 (47.49%) |
| Total Shares Offered | 1,084,800 (100%) |
Saroja Pharma Industries IPO opens on August 31, 2023, and closes on September 5, 2023.
| IPO Open Date | Thursday, August 31, 2023 |
| IPO Close Date | Tuesday, September 5, 2023 |
| Basis of Allotment | Friday, September 8, 2023 |
| Initiation of Refunds | Monday, September 11, 2023 |
| Credit of Shares to Demat | Tuesday, September 12, 2023 |
| Listing Date | Wednesday, September 13, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 5, 2023 |
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 | ₹134,400 |
| Retail (Max) | 1 | 1600 | ₹134,400 |
| HNI (Min) | 2 | 3,200 | ₹268,800 |
| Lot Size Calculator | |||
Mr. Biju Gopinathan Nair and Mr. Manish Dasharath Kamble are the company promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.02% |
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 |
| Revenue | 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 Industries IPO is Rs 33.77 Cr.
| KPI | Values |
|---|---|
| ROE | 0.15% |
| ROCE | 0.25% |
| Debt/Equity | 2 |
| RoNW | 20.85% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.61 | |
| P/E (x) | 23.27 | 31.82 |
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...
The Saroja Pharma Industries IPO is subscribed 8.88 times on September 5, 2023 7:29:00 PM. 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 (times) |
|---|---|
| Other | 2.90 |
| Retail | 14.83 |
| Total | 8.88 |
Total Application : 4,775 (14.83 times)
| Listing Date | September 13, 2023 |
| BSE Script Code | |
| NSE Symbol | SAROJA |
| ISIN | INE0PCL01011 |
| Final Issue Price | ₹84 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹84.00 |
| ₹65.00 |
| ₹65.00 |
| ₹68.25 |
| ₹68.25 |
Saroja Pharma Industries India Limited
305, Kailash Tower, Shiv Shristi Complex,
Goregaon Link Road, Mulund West,
Mumbai (MH) – 400080
Phone: +91 (022) 2081 0011
Email: info@sarojapharma.com
Website: https://www.sarojapharma.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: spiil.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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Saroja Pharma Industries IPO is a SME IPO of 1,084,800 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 Shares.
The IPO opens on August 31, 2023, and closes on September 5, 2023.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Saroja Pharma Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Saroja Pharma Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Saroja Pharma Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Saroja Pharma Industries IPO opens on August 31, 2023 and closes on September 5, 2023.
Saroja Pharma Industries IPO lot size is 1600 Shares, and the minimum amount required is ₹134,400.
You can apply in Saroja Pharma Industries 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 Saroja Pharma Industries 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 Industries IPO allotment status.
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This is first time I am facing the issue since starting online application.
Anyone else facing the problem in Indusind Bank.
Technical problem is at Registrar side or Bank Side?
I have already emailed to Registrar yesterday itself and simultaneously compalined to Bank for Unblocking.