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 Open	May 24, 2018 - May 25, 2018
Issue Type	Fixed Price Issue IPO
Issue Size	2,500,000 Eq 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
Min Order Quantity	8000 Shares
Listing At	NSE SME

IPO Notices

Sorich Foils IPO Withdrawn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Sorich Foils IPO has been withdrawn.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

› Draft Prospectus
› Red Herring Prospectus

Sorich Foils IPO Rating

3.7

Rating:

Vote Here ...

Sorich Foils IPO Reviews / Ratings

Dilip Davda - Avoid

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

Sorich Foils IPO Lead Manager(s)

Saffron Capital Advisors Private Limited

Lead Manager Reports

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Sorich Foils IPO Review / Comments

7. Small Investor May 29, 2018 17:00

IPO Mentor (800+ Posts, 300+ Likes)

Company ki okat nhi h IPO lane ki

6. Hiteshji May 27, 2018 18:45

Top Contributor (200+ Posts, 100+ Likes)

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

2 |

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 13:31

Hiteshji aapka toh issue hi cancel hogaya. lol

5. black & white hat May 21, 2018 13:44

1 |

the LM-saffron performance is not good even well valued ipo issued by it not performing well.

5.1. Anupindi Chakradhar May 23, 2018 14:50

2 |

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 13:21

1 |

@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

Top Contributor (200+ Posts, 300+ 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

Top Contributor (200+ Posts, 300+ Likes)

Sorich Foils Limited 24-May-2018 25-May-2018 Closed

above from NSE SME website.

Load more comments (1 replies)

3.2. v for vendetta May 28, 2018 12:04

Top Contributor (200+ Posts, 300+ Likes)

I don't know, it's surprising.

3.3. anujsme May 28, 2018 12:11

It cant be closed

must have been issue is cancelled. must have been some obligation

2. DownriteVJ May 28, 2018 10:30

1 |

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
Latteys Industries Limited 0.64X

Closing Tomorrow

Arihant Institute Limited 0.59X
Nakoda Group 0.91X

1. winvest May 24, 2018 10:30

2 |

I am happy that investors and promoters have put money 6 cr pre ipo at the issue price of 16

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