Bookbuilding IPO | ₹50 Cr | Listed at BSE SME | Thu, Mar 9, 2023 - Tue, Mar 14, 2023
Sudarshan Pharma Industries IPO is a book build issue of ₹50.10 crores. The issue is entirely a fresh issue of 0.69 crore shares of ₹50.10 crore.
Sudarshan Pharma Industries IPO bidding started from Mar 9, 2023 and ended on Mar 14, 2023. The allotment for Sudarshan Pharma Industries IPO was finalized on Mar 17, 2023. The shares got listed on the BSE SME on Mar 22, 2023.
Sudarshan Pharma Industries IPO is set final issue price at ₹73 per share. The lot size for an application is 1,600 shares. The minimum amount of investment required by an individual investor (retail) is ₹1,16,800 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,33,600.
Gretex Corporate Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Gretex Share Broking Pvt.Ltd.
Refer to Sudarshan Pharma Industries IPO DRHP for detailed Information.
IPO Open
Thu, Mar 9, 2023
IPO Close
Tue, Mar 14, 2023
Issue Price
₹73 per share
Market Cap (Pre-IPO)
₹175.68 Cr
| IPO Date | 9 to 14 Mar, 2023 |
| Listed on | Wed, Mar 22, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹71 to ₹73 |
| Issue Price | ₹73 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 68,62,400 shares (agg. up to ₹50 Cr) |
| Reserved for Market Maker | 3,44,000 shares Gretex Share Broking Pvt.Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 65,18,400 shares (agg. up to ₹48 Cr) |
| Net Offered to Public | 65,18,400 shares (agg. up to ₹48 Cr) |
| Share Holding Pre Issue | 1,72,03,487 shares |
| Share Holding Post Issue | 2,40,65,887 shares |
| BSE Script Code | 543828 |
| ISIN | INE00TV01023 |
Sudarshan Pharma Industries IPO comprises a total issue size of 68,62,400 shares. The net offer to the public is 65,18,400 shares, after excluding 3,44,000 shares allotted on a firm basis. Of the Net offer 13,02,400 (19.98%) are allocated to QIB, 15,64,800 (24.01%) allocated to NII 36,51,200 (56.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 13,02,400 | 19.98% | 18.98% |
| − Anchor Investor Shares Offered | 7,80,800 | 11.38% | |
| − QIB (Ex. Anchor) Shares Offered | 5,21,600 | 7.60% | |
| NII (HNI) Shares Offered | 15,64,800 | 24.01% | 22.80% |
| Retail Shares Offered | 36,51,200 | 56.01% | 53.21% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,44,000 | 5.01% | |
| Total Shares Offered | 68,62,400 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,16,800 |
| Retail (Max) | 1 | 1,600 | ₹1,16,800 |
| HNI (Min) | 2 | 3,200 | ₹2,33,600 |
Sudarshan Pharma Industries IPO raises ₹5.70 crore from anchor investors. Sudarshan Pharma Industries IPO Anchor bid date is March 8, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Mar 8, 2023 |
| Shares Offered | 7,80,800 |
| Anchor Portion (₹ Cr.) | 5.70 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Apr 16, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Jun 15, 2023 |
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
| Period Ended | 30 Sep 2022 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 164.02 | 137.52 | 99.26 |
| Total Income | 195.90 | 357.56 | 193.73 |
| Profit After Tax | 3.61 | 5.30 | 2.67 |
| NET Worth | 51.09 | 29.78 | 22.51 |
| Reserves and Surplus | 39.97 | 20.03 | 12.96 |
| Total Borrowing | 49.41 | 30.59 | 29.77 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Rite Zone Chemcon India Ltd. | SME | ₹8.96 Cr | ₹75 | 90.36 | ₹86.95 | +15.93% | ₹23.80 (+4.85%) |
| Vital Chemtech Ltd. | SME | ₹64.64 Cr | ₹101 | 14.94 | ₹163.10 | +61.49% | ₹55.00 (-1.79%) |
| Bhatia Colour Chem Ltd. | SME | ₹40.00 Cr | ₹80 | 166 | ₹42.00 | -47.50% | ₹44.60 (-0.89%) |
| Archean Chemical Industries Ltd. | Mainboard | ₹1,462.30 Cr | ₹407 | 16.78 | ₹458.15 | +12.57% | ₹527.45 (+0.48%) |
| Aether Industries Ltd. | Mainboard | ₹808.04 Cr | ₹642 | 72.3 | ₹774.40 | +20.62% | ₹1,500.80 (+0.54%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To set up a dedicated manufacturing facility for Pharmaceutical Business | 12.50 |
| 2 | Distribution and Warehousing Centre‘s & Purchase of Corporate Office | 4.50 |
| 3 | Additional Working Capital | 5.25 |
| 4 | General Corporate Expenses | 2.80 |
| KPI | |
|---|---|
| ROE | 17.81% |
| ROCE | 38.59% |
| Debt/Equity | 1.09 |
| RoNW | 17.81% |
| PAT Margin | 1.49% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.52 | |
| P/E (x) | 24.33 | |
| Promoter Holding | 80.28% | 57.39% |
| Market Cap | ₹175.68 Cr. |
| Category | QIB | NII | Retail | Total | ||
|---|---|---|---|---|---|---|
| Ex. Anchor | Anchor Investor | Total QIB | ||||
| Allocation (No. of shares) | 5,21,600 | 7,80,800 | 13,02,400 | 15,64,800 | 36,51,200 | 65,18,400 |
| Allotment price (₹) | 73 | 73 | 73 | 73 | 73 | 73 |
| No. of applications | 2 | 2 | 4 | 41 | 2,670 | 2,715 |
| No. of shares applied | 5,21,600 | 8,24,000 | 13,45,600 | 9,44,000 | 42,72,000 | 65,61,600 |
| Amount collected (₹ Cr.) | 3.81 Cr | 6.02 Cr | 9.82 Cr | 6.89 Cr | 31.19 Cr | 47.90 Cr |
| No. of times subscribed | 1.00 | 1.06 | 1.03 | 0.60 | 1.17 | 1.01 |
| No. of shares allotted | 5,21,600 | 7,80,800 | 13,02,400 | 9,44,000 | 42,72,000 | 65,18,400 |
| Amount allotted (₹ Cr.) | 3.81 Cr | 5.70 Cr | 9.51 Cr | 6.89 Cr | 31.19 Cr | 47.58 Cr |
| No. of allottees | 2 | 2 | 4 | 41 | 2,670 | 2,715 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manger Fees including Underwriting Commission | 0.18 |
| 2 | Market Making Charges for first year of Listing | 0.04 |
| 3 | Fees Payable to Registrar to the Issue | 0.01 |
| 4 | Fees Payable to Advertising and Marketing Expenses | 0.35 |
| 5 | Fees Payable to Regulators including Stock Exchanges | 0.02 |
| 6 | Payment for Printing & Stationery, Distribution, Postage, etc | 0.02 |
| 7 | Others (Fees Payable to Peer Review Auditor, Fees to Legal Advisors, Marketing Expenses, Brokerage, Processing Fees for Application and Miscellaneous Expenses) | 0.14 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹73.00 |
| Open | ₹73.00 |
| Low | ₹69.35 |
| High | ₹73.25 |
| Last Trade | ₹69.35 |
Lead Manager Reports
Sudarshan Pharma Industries IPO is a SME IPO of 68,62,400 equity shares of the face value of ₹10 aggregating up to ₹50 Crores. The issue is priced at ₹73 per share. The minimum order quantity is 1600.
The IPO opens on Thu, Mar 9, 2023, and closes on Tue, Mar 14, 2023.
Kfin Technologies Ltd. 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
Visit Zerodha IPO Application Process Review for more detail.
The Sudarshan Pharma Industries IPO opens on Thu, Mar 9, 2023 and closes on Tue, Mar 14, 2023.
Sudarshan Pharma Industries IPO lot size is 1600, and the minimum amount required for application is ₹1,16,800.
You can apply in Sudarshan Pharma Industries 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 Sudarshan Pharma Industries IPO will be done on Friday, March 17, 2023, and the allotted shares will be credited to your demat account by Tue, Mar 21, 2023. Check the Sudarshan Pharma Industries IPO allotment status.
The Sudarshan Pharma Industries IPO listing date is on Wed, Mar 22, 2023.
