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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.

Sorich Foils IPO Details

Issue OpenMay 24, 2018 - May 25, 2018
Issue TypeFixed Price Issue IPO
Issue Size2,500,000 Eq Shares of Rs 10
(aggregating up to Rs 4.00 Cr)
Face ValueRs 10 Per Equity Share
Issue PriceRs 16 Per Equity Share
Market Lot8000 Shares
Min Order Quantity8000 Shares
Listing AtNSE SME

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Sorich Foils IPO Withdrawn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Sorich Foils IPO has been withdrawn.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 (Bidding Detail)

Sorich Foils IPO how much subscribed?

No. of Times Issue Subscribed (BSE + NSE)

As on Date & Time

NII

RII

Total

Shares Offered

1,150,000

1,150,000

2,300,000

May 25, 2018 17:00

0.23x

0.13x

0.18x

Sorich Foils IPO Prospectus

Sorich Foils IPO Rating

32
3.7
Rating:Rated 3.7 stars

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Sorich Foils IPO Reviews / Ratings

Company Contact Information

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

Phone: +91 260 2780670
Email: cs@sorichfoils.in
Website: http://www.sorichfoils.in

Sorich Foils IPO Registrar

Link Intime India Private Ltd
   Link Intime India Private Ltd
   C 101, 247 Park, L.B.S.Marg,
   Vikhroli (West), Mumbai - 400083

Phone: +91-22-4918 6270
Email: sorich.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

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Sorich Foils IPO Review / Comments

Small Investor
7. Small Investor  May 29, 2018 17:00 I Like It. | Report Abuse
IPO Mentor IPO Mentor (800+ Posts, 300+ Likes)
Company ki okat nhi h IPO lane ki
Hiteshji
6. Hiteshji  May 27, 2018 18:45 I Like It. | Report Abuse
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Must apply to this ipo. Will get very good returns. This one is fancy among all ipos of current month.
anujsme
6.1. anujsme  May 28, 2018 10:10 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
anujsme
6.2. anujsme  May 28, 2018 13:31 I Like It. | Report Abuse
Hiteshji aapka toh issue hi cancel hogaya. lol
black & white hat
5. black & white hat  May 21, 2018 13:44 I Like It. 1 | Report Abuse
the LM-saffron performance is not good even well valued ipo issued by it not performing well.
Anupindi Chakradhar
5.1. Anupindi Chakradhar  May 23, 2018 14:50 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
black & white hat
5.2. black & white hat  May 28, 2018 13:21 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....
v for vendetta
4. v for vendetta  May 28, 2018 12:22 I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
Issue has been withdrawn by Company.
Withdrawal letter is attached at NSE SME website link for this IPO.
v for vendetta
3. v for vendetta  May 28, 2018 11:57 I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
Sorich Foils Limited      24-May-2018      25-May-2018      Closed      

above from NSE SME website.
v for vendetta
3.2. v for vendetta  May 28, 2018 12:04 I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
I don't know, it's surprising.
anujsme
3.3. anujsme  May 28, 2018 12:11 I Like It. | Report Abuse
It cant be closed

must have been issue is cancelled. must have been some obligation
DownriteVJ
2. DownriteVJ  May 28, 2018 10:30 I Like It. 1 | Report Abuse
IPO Guru IPO Guru (1100+ Posts, 1000+ Likes)
Closing Today

Debock Sales and Marketing 0.29X
Affordable Robotic and Automation Limited 0.39X
Sorich Foils Limited 0.17X
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Closing Tomorrow

Arihant Institute Limited 0.59X
Nakoda Group 0.91X
winvest
1. winvest  May 24, 2018 10:30 I Like It. 2 | Report Abuse
I am happy that investors and promoters have put money 6 cr pre ipo at the issue price of 16



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