Fixed Price IPO | ₹4 Cr | Listing at NSE SME | Thu, May 24, 2018 - Mon, May 28, 2018
Sorich Foils IPO is a fixed issue price of ₹4.00 crores. The issue is entirely a fresh issue of 0.25 crore shares of ₹4.00 crore.
Sorich Foils IPO bidding started from May 24, 2018 and ended on May 28, 2018. The allotment for Sorich Foils IPO was finalized on May 29, 2018. Sorich Foils IPO will list on the NSE SME with a tentative listing date fixed as May 31, 2018.
Sorich Foils IPO is set final issue price at ₹16 per share. The lot size for an application is 8,000 shares. The minimum amount of investment required by an individual investor (retail) is ₹1,28,000 (8000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (16,000 shares), amounting to ₹2,56,000.
Saffron Capital Advisors Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Saffron Equity Advisors Pvt.Ltd.
Refer to Sorich Foils IPO RHP for detailed Information.
IPO Open
Thu, May 24, 2018
IPO Close
Mon, May 28, 2018
Issue Price
₹16 per share
Market Cap (Pre-IPO)
To be declared
| IPO Date | 24 to 28 May, 2018 |
| Listing Date | Thu, May 31, 2018T |
| Face Value | ₹10 per share |
| Issue Price | ₹16 per share |
| Lot Size | 8,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 25,00,000 shares (agg. up to ₹4 Cr) |
| Reserved for Market Maker | 2,00,000 shares Saffron Equity Advisors Pvt.Ltd. (agg. up to ₹0.3200 Cr) |
| Fresh Issue (Ex Market Maker) | 23,00,000 shares (agg. up to ₹4 Cr) |
| Net Offered to Public | 23,00,000 shares (agg. up to ₹4 Cr) |
| Share Holding Pre Issue | 58,33,334 shares |
| Share Holding Post Issue | 83,33,334 shares |
Sorich Foils IPO comprises a total issue size of 27,00,000 shares. The net offer to the public is 25,00,000 shares, after excluding 2,00,000 shares allotted on a firm basis. Of the Net offer 11,50,000 (50.00%) allocated to NII 11,50,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 11,50,000 | 50.00% | 42.59% |
| Retail Shares Offered | 11,50,000 | 50.00% | 42.59% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,00,000 | 7.41% | |
| Total Shares Offered | 27,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 8,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 8,000 | ₹1,28,000 |
| Retail (Max) | 1 | 8,000 | ₹1,28,000 |
| HNI (Min) | 2 | 16,000 | ₹2,56,000 |
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.
| Period Ended | 31 Jan 2018 | 31 Mar 2017 | 31 Mar 2016 | 31 Mar 2015 |
|---|---|---|---|---|
| Assets | 27.57 | 15.99 | 16.63 | 15.28 |
| Total Income | 23.13 | 26.59 | 26.90 | 25.07 |
| Profit After Tax | 0.57 | 0.33 | 0.19 | 0.22 |
| NET Worth | 9.64 | 2.93 | ||
| Reserves and Surplus | 3.80 | 1.93 | 1.60 | 1.41 |
| Total Borrowing | 9.02 | 7.06 | 4.98 | 5.26 |
| Amount in ₹ Crore | ||||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| MMP Industries Ltd. | SME | ₹84.60 Cr | ₹188 | null | ₹199.50 | +6.12% | ₹282.45 (-0.69%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Part Repayment / prepayment of Unsecured Loans availed by the Company | 3.00 |
| 2 | General corporate purposes | 0.50 |
The Sorich Foils IPO IPO subscription status. Full data available on IPOMatrix.com.
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Applications |
|---|---|---|---|---|
| Total | - | - | - | - |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead management fees, printing and distribution expenses and payment to other intermediaries such as registrars, market makers, bankers etc | 0.43 |
| 2 | Regulatory fees & Other expenses | 0.02 |
| 3 | Marketing and other expenses | 0.05 |
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.'
Lead Manager Reports
Sorich Foils IPO is a SME IPO of 25,00,000 equity shares of the face value of ₹10 aggregating up to ₹4 Crores. The issue is priced at ₹16 per share. The minimum order quantity is 8000.
The IPO opens on Thu, May 24, 2018, and closes on Mon, May 28, 2018.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Sorich Foils IPO using UPI as a payment gateway. Zerodha customers can apply in Sorich Foils IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sorich Foils IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sorich Foils IPO opens on Thu, May 24, 2018 and closes on Mon, May 28, 2018.
Sorich Foils IPO lot size is 8000, and the minimum amount required for application is ₹1,28,000.
You can apply in Sorich Foils IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Sorich Foils IPO will be done on Tuesday, May 29, 2018, and the allotted shares will be credited to your demat account by Wed, May 30, 2018. Check the Sorich Foils IPO allotment status.
The Sorich Foils IPO listing date is not yet announced. The tentative date of listing is Thu, May 31, 2018.
