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Sudarshan Pharma IPO is a fixed price issue of Rs 24.77 crores.
Sudarshan Pharma IPO bidding started from June 12, 2019 and ended on June 21, 2019. The allotment for Sudarshan Pharma IPO was finalized on Thursday, June 20, 2019. Sudarshan Pharma IPO will list on NSE SME with tentative listing date fixed as Tuesday, June 25, 2019.
Sudarshan Pharma IPO price is ₹72 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹115,200.
First Overseas Capital Limited is the book running lead manager of the Sudarshan Pharma IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Sudarshan Pharma IPO RHP for detailed information.
| IPO Date | June 12, 2019 to June 21, 2019 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹72 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,440,000 shares (aggregating up to ₹24.77 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Market Maker portion | 176,000 shares |
Sudarshan Pharma IPO offers 3,440,000 shares. 1,632,000 (47.44%) to NII, 1,632,000 (47.44%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 176,000 (5.12%) |
| Other Shares Offered | 1,632,000 (47.44%) |
| Retail Shares Offered | 1,632,000 (47.44%) |
| Total Shares Offered | 3,440,000 (100%) |
Sudarshan Pharma IPO opens on June 12, 2019, and closes on June 21, 2019.
| IPO Open Date | Wednesday, June 12, 2019 |
| IPO Close Date | Friday, June 21, 2019 |
| Basis of Allotment | Thursday, June 20, 2019 |
| Initiation of Refunds | Friday, June 21, 2019 |
| Credit of Shares to Demat | Monday, June 24, 2019 |
| Listing Date | Tuesday, June 25, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 21, 2019 |
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 | ₹115,200 |
| Retail (Max) | 1 | 1600 | ₹115,200 |
| Lot Size Calculator | |||
Mr. Hemal V. Mehta and Mr. Sachin V. Mehta are the promoters of the company.
| Share Holding Pre Issue | 89.29% |
| Share Holding Post Issue | 65.63% |
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
| Particulars | For the year/period ended (in Rs. Lakhs) | ||||
|---|---|---|---|---|---|
| 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | ||
| Total Assets | 5,013.72 | 3,096.37 | 1,992.93 | 827.24 | |
| Total Revenue | 14,001.96 | 8,976.43 | 5,551.72 | 3,794.33 | |
| Profit After Tax | 234.79 | 73.98 | 15.63 | 9.27 | |
The Net Proceeds from the Issue are proposed to be utilized by the Company for the following objects:
1) To set up a dedicated manufacturing facility for Pharmaceutical Business;
2) Distribution and Warehousing Centre's & Purchase of Corporate Office;
3) Additional Working Capital;
4) General Corporate Expenses; and
5) To meet the expenses of the Issue.
[Dilip Davda]
Pharmaceutical industries are a highly regulated sector. Currently, pharma shares are not fancied by investors. Recent listings of SME Pharma companies have disappointed investors with the poor debut. Considering aggressive pricing, there is no harm in giving this issue a miss.
Read detail review...The Sudarshan Pharma IPO is subscribed 0.47 times on June 21, 2019 6:00:01 PM. The public issue subscribed 0.77 times in the retail category, times in the QIB category, and 0.17 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 0.17 |
| Retail | 0.77 |
| Total | 0.47 |
Date: 24 June 2019
The Company has decided to withdraw the application made for SME IPO on NSE Platform due to material changes in the current business model and future expansion plan. The entire application money will be refunded forthwith.
Sudarshan Pharma Industries Limited
301, 3rd Floor, Aura Biplex,
Above Kalyan Jewellers, S V Road,
Borivali (West), Mumbai - 400 092,
Phone: +91 22 242221111
Email: compliance.spil@gmail.com
Website: http://www.sudarshanpharma.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
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Sudarshan Pharma IPO is a SME IPO of 3,440,000 equity shares of the face value of ₹10 aggregating up to ₹24.77 Crores. The issue is priced at ₹72 per share. The minimum order quantity is 1600 Shares.
The IPO opens on June 12, 2019, and closes on June 21, 2019.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
The Sudarshan Pharma IPO opens on June 12, 2019 and closes on June 21, 2019.
Sudarshan Pharma IPO lot size is 1600 Shares, and the minimum amount required is ₹115,200.
You can apply in Sudarshan Pharma 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 IPO will be done on Thursday, June 20, 2019, and the allotted shares will be credited to your demat account by Monday, June 24, 2019. Check the Sudarshan Pharma IPO allotment status.
Dilip Davda
SEBI registered Research Analyst
Mumbai
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