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Sudarshan Pharma Industries Ltd IPO (Sudarshan Pharma Industries IPO) Detail

March 9, 2023 - March 14, 2023

Sudarshan Pharma Industries IPO is a book built issue of Rs 50.10 crores. The issue is entirely a fresh issue of 68.62 lakh shares.

Sudarshan Pharma Industries IPO bidding started from March 9, 2023 and ended on March 14, 2023. The allotment for Sudarshan Pharma Industries IPO was finalized on Friday, March 17, 2023. The shares got listed on BSE SME on March 22, 2023.

Sudarshan Pharma Industries IPO price band is set at ₹71 to ₹73 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹116,800. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹233,600.

Gretex Corporate Services Limited is the book running lead manager of the Sudarshan Pharma Industries IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Sudarshan Pharma Industries IPO is Gretex Share Broking.

Refer to Sudarshan Pharma Industries IPO RHP for detailed information.

Sudarshan Pharma Industries IPO Details

IPO Date March 9, 2023 to March 14, 2023
Listing Date March 22, 2023
Face Value ₹10 per share
Price Band ₹71 to ₹73 per share
Lot Size 1600 Shares
Total Issue Size6,862,400 shares
(aggregating up to ₹50.10 Cr)
Fresh Issue6,862,400 shares
(aggregating up to ₹50.10 Cr)
Issue Type Book Built Issue IPO
Listing At BSE SME
Market Maker portion344,000 shares
Gretex Share Broking

Sudarshan Pharma Industries IPO Reservation

Sudarshan Pharma Industries IPO offers 7,206,400 shares. 521,600 (7.24%) to QIB, 1,908,800 (26.49%) to NII, 3,651,200 (50.67%) to RII 780,800 (10.83%) to Anchor investors.

Investor Category Shares Offered
Anchor Investor Shares Offered780,800 (10.83%)
Market Maker Shares Offered344,000 (4.77%)
QIB Shares Offered521,600 (7.24%)
NII (HNI) Shares Offered1,908,800 (26.49%)
Retail Shares Offered3,651,200 (50.67%)
Total Shares Offered7,206,400 (100%)

Sudarshan Pharma Industries IPO Anchor Investors Details

Sudarshan Pharma Industries IPO raises Rs 5.70 crore from anchor investors. Sudarshan Pharma Industries IPO Anchor bid date is March 8, 2023. Sudarshan Pharma Industries IPO Anchor Investors list

Bid Date March 8, 2023
Shares Offered 780,800
Anchor Portion Size (In Cr.) 5.70
Anchor lock-in period end date for 50% shares (30 Days) April 16, 2023
Anchor lock-in period end date for remaining shares (90 Days) June 15, 2023

Sudarshan Pharma Industries IPO Timeline (Tentative Schedule)

Sudarshan Pharma Industries IPO opens on March 9, 2023, and closes on March 14, 2023.

IPO Open Date Thursday, March 9, 2023
IPO Close Date Tuesday, March 14, 2023
Basis of Allotment Friday, March 17, 2023
Initiation of Refunds Monday, March 20, 2023
Credit of Shares to Demat Tuesday, March 21, 2023
Listing Date Wednesday, March 22, 2023
Cut-off time for UPI mandate confirmation 5 PM on March 14, 2023

Sudarshan Pharma Industries 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 ₹116,800
Retail (Max) 1 1600 ₹116,800
HNI (Min) 2 3,200 ₹233,600
Lot Size Calculator

Sudarshan Pharma Industries IPO Promoter Holding

Mr. Hemal Vasantrai Mehta and Mr. Sachin Vasantrai Mehta are the Promoters of the company.

Share Holding Pre Issue 80.28%
Share Holding Post Issue

About Sudarshan Pharma Industries Ltd

Incorporated in 2008, Mumbai based Sudarshan Pharma Industries Limited (SPIL) has a contract manufacturing facility to source and supply generic formulations. It is also engaged in import & export activities, and supply of specialty chemicals, API (Active Pharmaceutical Ingredients), and Intermediates. Based on clients' specifications and requirements, they outsource the manufacturing facility from the suppliers in India and abroad.

The generic products supplied by the company have a wide application in paint, food, pharma, and adhesive industry. The company is involved in a contract manufacturing facility, supply and outsource of medicines and pharma formulation to hospitals, NGO, government and healthcare institutes. SPIL has 50 pharma formulations which are supplied under the brand name in the form of tablets, ointment, capsules, and injectable.

The company has its own sales force and distribution network in 5 states for ethical marketing of pharmaceutical formulation & products under the brand name in Indian and international markets. It also offers formulation development and QC services and provides customised solutions.

The competitive strengths of the company are:

1. Customer-centric and order-driven business model
2. Wide range of product offerings
3. Contract manufacturing facility arrangements
4. Strong distribution, marketing, and sales network
5. Diversified business operations

Company Financials

Sudarshan Pharma Industries Ltd Financial Information (Restated Consolidated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
31-Mar-219,926.0219,372.82267.122,250.741,296.052,977.09
31-Mar-2213,752.1835,755.89530.372,977.532,002.633,059.24
30-Sep-2216,402.2219,589.87360.705,108.793,996.894,940.50
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Sudarshan Pharma Industries IPO is Rs 175.68 Cr.

Pre IPO Post IPO
P/E (x) 24.33

Objects of the Issue (Sudarshan Pharma Industries IPO Objectives)

The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects:

  1. Working Capital Requirements
  2. General Corporate Purposes.

Sudarshan Pharma Industries IPO Review (Avoid)

[Dilip Davda]  SPIL which failed to sail through its maiden IPO in June 2019 is trying for the second time for nearly double the amount. It is spending whooping Rs. 7.90 cr. (over 10 times projected for the first try) for this IPO process. It has changed the lead manager for this offer and the list of listed peers. Higher borrowings (Rs. 49.41 cr.), and tax notices of Rs. 7.41 cr. (excluding interest/penalty thereon) raises concern. Though it has posted growth in its financial data, it is fully mirrored including the near-term positives in the asking price. Off late we are witnessing a faded out of fancy for the pharma/healthcare segment post-pandemic. There is no harm in skipping this “High-Risk/Low-Return” bet. Read detail review...


Sudarshan Pharma Industries IPO Subscription Status (Bidding Detail)

The Sudarshan Pharma Industries IPO is subscribed 1.06 times on March 14, 2023 7:02:00 PM. The public issue subscribed 1.20 times in the retail category, 1.01 times in the QIB category, and 0.81 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB1.01
NII0.81
Retail1.20
Total1.06

Total Application : 3,005 (1.32 times)

Sudarshan Pharma Industries IPO Rating

12
1.8
Rating:Rated 1.8 stars
Vote Here ...

Sudarshan Pharma Industries IPO Listing Details

Listing Date March 22, 2023
BSE Script Code 543828
NSE Symbol
ISIN INE00TV01015
Final Issue Price ₹73 per share

Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE SME
₹73.00
₹73.00
₹69.35
₹73.25
₹69.35

Check IPO Performance…

Sudarshan Pharma Industries Ltd Contact Details

Sudarshan Pharma Industries Ltd
301,3rd Floor, Aura Biplex,
Above Kalyan Jewellers S. V. Road, Borivali (West)
Mumbai - 400092
Phone: 022- 42221111
Email: compliance@sudarshanpharma.com
Website: http://www.sudarshanpharma.com/

Sudarshan Pharma Industries IPO Registrar

Kfin Technologies Limited

Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/

Sudarshan Pharma Industries IPO - Buy or Not

Sudarshan Pharma Industries IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 0 0 1
Members 1 0 5

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Sudarshan Pharma Industries IPO FAQs

Sudarshan Pharma Industries IPO is a SME IPO of 6,862,400 equity shares of the face value of ₹10 aggregating up to ₹50.10 Crores. The issue is priced at ₹71 to ₹73 per share. The minimum order quantity is 1600 Shares.

The IPO opens on March 9, 2023, and closes on March 14, 2023.

Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Zerodha customers can apply online in Sudarshan Pharma Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Sudarshan Pharma Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Sudarshan Pharma Industries IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Sudarshan Pharma Industries IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Sudarshan Pharma Industries IPO opens on March 9, 2023 and closes on March 14, 2023.

Sudarshan Pharma Industries IPO lot size is 1600 Shares, and the minimum amount required is ₹116,800.

You can apply in Sudarshan 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 Sudarshan Pharma Industries IPO will be done on Friday, March 17, 2023, and the allotted shares will be credited to your demat account by Tuesday, March 21, 2023. Check the Sudarshan Pharma Industries IPO allotment status.

The Sudarshan Pharma Industries IPO listing date is on March 22, 2023.
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Sudarshan Pharma Industries IPO Message Board

Ranked Members of Chittorgarh.com Forum  Ranked Members | Members with Most Likes

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166 Comments

112. judo |   Link |  Bookmark |March 27, 2023 9:47:44 AM
bought Sudarshan
112.1. Udayk |   Link |  Bookmark |March 27, 2023 11:55:23 AM (200+ Posts)
Any reason to buy?
111. Udayk |   Link |  Bookmark |March 24, 2023 8:02:00 PM (200+ Posts)
Kaha Jake LC rukegi? Ke paise bhul jaye
110. SJogi |   Link |  Bookmark |March 22, 2023 4:20:53 PM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
Size ke hisab se achi hi hui hai listing
I was expecting negative listing but it listed at par.
Then went negative.
Qibs ne abhi tak maal nahi becha hai pura
Yeh bhot girne wala hai ab.
109. ARJUN'S EYE |   Link |  Bookmark |March 22, 2023 9:12:08 AM
IPO Mentor IPO Mentor (800+ Posts, 600+ Likes)
Sudarshan Pharma Industries BSE SME IPO.
BSE Code:-543828
Symbol:-SUDARSHAN
Group:-MT
ISIN:-INE00TV01015
Issue Price:-73/-
Market Lot:-1600 Shares
Face Value:-10/-
Listing At:-BSE SME
109.1. Udayk |   Link |  Bookmark |March 22, 2023 10:21:26 AM (200+ Posts)
Gaya paisa
109.2. svh |   Link |  Bookmark |March 22, 2023 4:16:21 PM
IPO Guru IPO Guru (2400+ Posts, 3600+ Likes)
@ New Member , UdayKumar se vasuli karlo
🙏👍
108. PKRAJ |   Link |  Bookmark |March 22, 2023 2:07:03 PM
Sorry for the members who dare to apply and did/could not sell in pre open market. Some members were positive for listing gains but not happened. After listing Lowe Circuit.
In positive market bad listing, as expected by more members.
108.1. IPOmentor |   Link |  Bookmark |March 22, 2023 2:09:43 PM
Paisa apni jab me rakhne me dare karo na ki apply karne me.
107. NixNix |   Link |  Bookmark |March 22, 2023 1:58:13 PM
Alloted 1600 Shares , what i should do now?
107.1. IPOmentor |   Link |  Bookmark |March 22, 2023 2:07:37 PM
Nikal sako to nikal lo. ASAP. door locked.
106. IPOmentor |   Link |  Bookmark |March 22, 2023 1:07:09 PM
4.80 Lakhs share sold & collected approximately 3.48Cr. from retailrs
106.1. NixNix |   Link |  Bookmark |March 22, 2023 1:57:03 PM
Alloted 1600 Shares , What i should do now ?
105. IPOmentor |   Link |  Bookmark |March 22, 2023 10:45:23 AM
ho javo LC per LC pe ready. Window closed as prediction retailers trapped
104. Santosh IPO Investor |   Link |  Bookmark |March 17, 2023 3:37:07 PM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
firm allotment and may list above to issue price
104.5. Santosh IPO Investor |   Link |  Bookmark |March 19, 2023 10:47:42 AM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
I think no gmp but it listing will be positive possible
104.6. Udayk |   Link |  Bookmark |March 20, 2023 10:34:04 PM (200+ Posts)
Gmp 8.finger cross for listing
103. Santosh IPO Investor |   Link |  Bookmark |March 17, 2023 1:07:50 PM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
looks firm allotment in all categories
102. SJogi |   Link |  Bookmark |March 16, 2023 4:22:21 PM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
happy that i avoided.
101. SME INVESTOR |   Link |  Bookmark |March 15, 2023 12:49:25 PM (300+ Posts)
This IPO also may devolved like Patron Exim due to low subscription and technical rejection may be a concern and LM have to underwrite the unsubscribe portion.
101.1. SME INVESTOR |   Link |  Bookmark |March 21, 2023 4:34:06 PM (300+ Posts)
2nd IPO Devolved after Patrom Exim Limited SME IPO in 2023.

This issue 'Sudarshan Pharma" was also Devolved (Under subscribed) for valid application as per BOA and LM as underwriter has to subscribed for 4,22,400 equity shares worth Rs. 308.35 Lakhs from there own pocket 🙏 to save the listing and sail through.

A big setback for Merchant Banker's to do IPO's like this.

Hope Merchant Bankers will be more cautious while choosing the company proposed for listing in near future.
100. Romy HNI |   Link |  Bookmark |March 15, 2023 11:56:47 AM
IPO Mentor IPO Mentor (500+ Posts, 400+ Likes)
based on the listing of new SME IPOs....done right by not applying
99. GJ 😀 |   Link |  Bookmark |March 15, 2023 2:22:12 AM
IPO Mentor IPO Mentor (1600+ Posts, 400+ Likes)
Not applied
98. Anari Investor |   Link |  Bookmark |March 14, 2023 8:41:58 PM
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
Skipped. Seems full allotment.
97. Romy HNI |   Link |  Bookmark |March 14, 2023 7:52:59 PM
IPO Mentor IPO Mentor (500+ Posts, 400+ Likes)
Skipped
96. PKRAJ |   Link |  Bookmark |March 14, 2023 5:15:03 PM
Managed to subscribe. So sail through. Members know SUDARSHAN pills/tablets. Not good in taste at all. The same happened to this one. Most of this forum members have not invested in Pharma stock. I have not applied.
95. Sanchit Jain |   Link |  Bookmark |March 14, 2023 2:53:00 PM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
The IPO does not have enough firepower for me to be able to subscribe. The market is really choppy and investors mood is not that great. Otherwise, this company might surprise on listing.
94. Hope is life |   Link |  Bookmark |March 14, 2023 2:35:45 PM
IPO Mentor IPO Mentor (900+ Posts, 600+ Likes)
thanks to retailers

otherwise this ipo might withdrawn by promoters again...

totally avoided..
93. Arjun Rajkot |   Link |  Bookmark |March 14, 2023 2:24:28 PM
IPO Guru IPO Guru (1000+ Posts, 1900+ Likes)
Complete avoid