Vaishali Pharma Ltd IPO (Vaishali Pharma IPO) Detail

Aug 7, 2017 - Aug 10, 2017

Incorporated in 2008, Vaishali Pharma Ltd is a pharmaceutical company engaged in pharmaceutical formulations, APIs, surgical products, veterinary supplements, herbal & nutraceutical products. They are operating both in domestic and export markets. They have also established office in the Vietnam. At present they are supplying in around 10 countries.

In domestic markets, they are majorly into trading of APIs whereas in export markets, they are into trading and marketing of APIs, formulations, surgical products and others. Recently they have applied for 186 registrations in 13 countries for some of their products and received 71 approvals from 7 countries.

They export Formulations, Surgical & APIs to Kenya, Sri Lanka, Russia, DR Congo, Myanmar, Tajikistan, Bangladesh, Kazakhstan, Cameroon, Jordan, Burkina -Faso, Nicaragua, Senegal, Pakistan, Ukraine, Yemen, Cambodia, Turkey, Congo, Zimbabwe, Ethiopia, Tanzania, Vietnam, Armenia, Costa Rica, Nigeria, C.A.R. and Guinea-Bissau.

Company Promoters:

The promoters of the company are:

1. Atul Vasani
2. Jagruti Vasani

Company Financials:

Summary of financial Information (Consolidated)
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	4464.87	4941.31	4579.50	5342.97	4858.17
Total Revenue	6711.22	6989.13	9882.37	12156.90	11909.85
Profit After Tax	66.37	(3.03)	16.15	30.05	60.00

Objects of the Issue:

The objects to the Issue are:

1. Working Capital requirements;
2. General Corporate Purposes.

Vaishali Pharma IPO Details

IPO Opening Date	Aug 7, 2017
IPO Closing Date	Aug 10, 2017
Issue Type	Book Built Issue IPO
Face Value	₹10 per equity share
IPO Price	₹71 to ₹72 per equity share
Market Lot	1600 Shares
Min Order Quantity	1600 Shares
Listing At	NSE SME
Issue Size	1,976,000 Eq Shares of ₹10 (aggregating up to ₹14.23 Cr)

Vaishali Pharma IPO Lot Size

The Vaishali Pharma IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹115,200).

Application	Lots	Shares	Amount (Cut-off)
Minimum	1	1600	₹115,200
Maximum	1	1600	₹115,200

Vaishali Pharma IPO Subscription Status (Bidding Detail)

The Vaishali Pharma IPO is subscribed 1.89x times on Aug 10, 2017 17:00. The public issue subscribed 1.91x in the retail category, in the QIB category, and 1.87x in the NII category. Check Day by Day Subscription Details (Live Status)

Category	IPO Subscription
NII	1.87x
RII	1.91x
Total	1.89x

Vaishali Pharma IPO Prospectus

› Vaishali Pharma IPO DRHP

Vaishali Pharma IPO Rating

3.5

Rating:

Vote Here ...

Vaishali Pharma IPO Listing Date

Listing Date	Tuesday, August 22, 2017
BSE Script Code
NSE Symbol	VAISHALI
Listing In
ISIN	INE972X01014
IPO Price	₹72 per equity share
Face Value	₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
Volume

	NSE SME
IPO Price:	₹72.00
Open:	₹71.90
Low:	₹66.55
High:	₹73.00
Last Trade:	₹70.35
Volume:	400,000

Vaishali Pharma IPO Reviews / Ratings

Dilip Davda - Avoid

Company Contact Information

Vaishali Pharma Ltd
706 to 709 7th Floor,
Aravali Business Centre,
Borivali(W) , Mumbai - 400092

Phone: + 91-22-28928833
Email: investor@vaishalipharma.com
Website: http://www.vaishalipharma.com

Vaishali Pharma IPO Registrar

Bigshare Services Pvt Ltd
   1st Floor, Bharat Tin Works Building,
   Opp. Vasant Oasis,Makwana Road,
   Marol, Andheri(E), Mumbai - 400 059

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com

Vaishali Pharma IPO Lead Manager(s)

Pantomath Capital Advisors Pvt Ltd

Lead Manager Reports

Vaishali Pharma IPO FAQs

What is Vaishali Pharma IPO?

Vaishali Pharma IPO is a SME IPO of 1,976,000 equity shares of the face value of ₹10 aggregating up to ₹14.23 Crores. The issue is priced at ₹71 to ₹72 per equity share. The minimum order quantity is 1600 Shares.

The IPO opens on Aug 7, 2017, and closes on Aug 10, 2017.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
When Vaishali Pharma IPO will open?

The Vaishali Pharma IPO opens on Aug 7, 2017 and closes on Aug 10, 2017.
What is the lot size of Vaishali Pharma IPO?

Vaishali Pharma IPO lot size is 1600 Shares and the minimum order quantity is 1600 Shares.
How to apply for Vaishali Pharma IPO?

You can apply in Vaishali 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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.
When Vaishali Pharma IPO allotment?

The finalization of Basis of Allotment for Vaishali Pharma IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Vaishali Pharma IPO allotment status.
When is Vaishali Pharma IPO listing date?

The Vaishali Pharma IPO listing date is on Tuesday, August 22, 2017.

Vaishali Pharma IPO Message Board

Ranked Members

22. Jon snow |Sep 20, 2017 19:22

Worth investing under HNI ? Please advise.

21. Chandumench |Aug 14, 2017 14:54

Listing kab hai.....

20. dipak |Aug 13, 2017 08:53

Anyone have any knowledge regarding metropolitan stock exchange (msei) unlisted shares which are available at 2.5rs and what can b the future of the company....kindly suggest@septa eagle eye and all the knowledge person

19. DownriteVJ |Aug 10, 2017 14:55

IPO Guru (1200+ Posts, 1100+ Likes)

77%

18. DownriteVJ |Aug 9, 2017 18:46

IPO Guru (1200+ Posts, 1100+ Likes)

60% subscribed. Good.

17. PKP Gotka Mrt |Aug 9, 2017 18:17

Subscription report?
Vaisala Pharma and
Ashok masala

16. STOCKT |Aug 9, 2017 13:50

Pathetic .sales and profits decreasing and asking such high pe .not even worth 40 rs
Stay away
Also looking at such high subscription of recent sme not performing well this one doesn''t e even worth looking at

15. ANUJ TAHLAN |Aug 4, 2017 09:20

NEW IN IPO PLZZZ TELL ME ABOUT SME
WHERE I INVEST MY MONEY
IN WHICH IPO I CAN APPLY FOR GOOD PROFIT I HAVE LIMITED FUNDS

15.1. Mumbai DON |Aug 4, 2017 18:10

Top Contributor (200+ Posts, 200+ Likes)

To enter in current market is little bit risky as u r new.so better go for mutual fund or sip .

14. Prabhakaran Kuppusamy |Jul 31, 2017 19:24

Top Contributor (400+ Posts, 300+ Likes)

Pros:
ROE/ROCE is at PAR
Cons:
D/E is dangerously going beyond 6
Cash flow is mixed
Sales is decreasing gradually (but the net is increasing) - confusing

There is nothing positive about this issue.
Even if the issue price is below 50, I wouldn''t have subscribed to this.

Load more comments (5 replies)

14.6. SecTheta |Aug 3, 2017 21:00

Lexus apply and rest avoid

14.7. Hiro Devrani |Aug 3, 2017 22:45

Thank you sec theta sir

13. sento |Aug 3, 2017 16:49

Vaishali Pharma Ltd IPO good or not

12. Ankitxyz |Aug 1, 2017 01:31

Top Contributor (300+ Posts, 300+ Likes)

Prabhakaran Kuppusamy

I completely agree with you, there is nothing positive about this company. The story of Radhika Jeweltech Ltd is likely to get repeated. There is negative growth in revenue,PAT,EBITDA and cash flows. Rational investors will not apply in this IPO.

11. Hiren K. |Jul 31, 2017 19:49

Upcoming SME IPO LEXUS GRANITO..on 9th Aug.

10. Prabhakaran Kuppusamy |Jul 31, 2017 19:19

Top Contributor (400+ Posts, 300+ Likes)

Key operating ratios

Year end      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
EPS(Rs)      2.21      -      3.23      6.01      12.00
Book value(Rs)      12.90      64.09      64.70      61.47      55.46
CEPS(Rs)      3.03      6.80      12.20      6.80      12.60
NPM(%)      1.00      -0.04      0.17      0.25      0.51
OPM(%)      6.63      5.59      4.20      2.77      1.57
ROCE(%)      16.07      12.75      13.97      19.13      14.68
ROE(%)      18.67      -0.93      5.07      10.27      21.66
Debt/equity      6.22      7.16      6.95      4.86      3.47
Interest cover      1.32      1.00      1.04      1.23      1.95

9. Prabhakaran Kuppusamy |Jul 31, 2017 19:19

Top Contributor (400+ Posts, 300+ Likes)

Cash flow analysis(Rs.in Crs.)
Year end      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
NOPAT      2.70      -      3.75      1.62      1.23
Operating cash flow      0.85      4.59      -3.72      -7.04      3.80
Free cash flow      0.86      4.67      -2.19      -6.56      3.81

8. Prabhakaran Kuppusamy |Jul 31, 2017 19:18

Top Contributor (400+ Posts, 300+ Likes)

Key financials (Rs.in Crs.)
Year end      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
Net sales      66.05      66.71      94.56      120.71      118.81
Operating profit      4.38      3.73      3.97      3.34      1.86
Net profit      0.66      -0.03      0.16      0.30      0.60
Equity cap pd      3.00      0.50      0.50      0.50      0.50

7. Prabhakaran Kuppusamy |Jul 31, 2017 19:18

Top Contributor (400+ Posts, 300+ Likes)

Variance (Half Yearly)
Year      201703      201603      Var(%)
Type      Full Year      Full Year
Sales Turnover      66.05      66.71      -0.99
Other Income      1.06      3.18      -66.67
Total Income      67.11      69.89      -3.98
Total Expenditure      62.73      66.16      -5.18
Operating Profit      4.38      3.73      17.43
Interest      3.12      3.37      -7.42
Gross Profit      1.26      0.36      250.00
Depreciation      0.25      0.37      -32.43
Tax      0.36      0.04      800.00
Reported PAT      0.66      -0.03      N.A.
Dividend (%)      0.00      0.00      N.A.

6. Prabhakaran Kuppusamy |Jul 31, 2017 19:17

Top Contributor (400+ Posts, 300+ Likes)

P & L Account(Rs.in Crs.)

Year      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
Sales Turnover      66.05      66.71      94.56      120.71      118.81
Other Income      1.06      3.18      4.26      0.86      0.29
Stock Adjustments      -2.21      0.04      -4.83      2.80      -0.44
Total Income      64.90      69.93      93.99      124.37      118.66
Raw Materials      55.22      62.07      86.42      117.03      113.11
Excise Duty      0.00      0.00      0.00      0.00      0.00
Power & Fuel Cost      0.00      0.00      0.00      0.00      0.00
Other Manufacturing Expenses      0.00      0.00      0.00      0.00      0.00
Employee Cost      1.58      1.56      1.85      2.00      1.19
Selling and Administration Expenses      0.00      0.00      0.00      0.00      0.00
Miscellaneous Expenses      3.73      2.57      1.75      2.01      2.49
Less: Preoperative Expenditure Capitalised      0.00      0.00      0.00      0.00      0.00
Profit before Interest, Depreciation & Tax      4.38      3.73      3.97      3.34      1.86
Interest & Financial Charges      3.12      3.37      3.37      2.68      0.94
Profit before Depreciation & Tax      1.26      0.36      0.60      0.66      0.92
Depreciation      0.25      0.37      0.45      0.04      0.03
Profit Before Tax      1.01      0.00      0.15      0.61      0.89
Tax      0.35      0.03      -0.01      0.31      0.29
Profit After Tax      0.66      -0.03      0.16      0.30      0.60
Adjustment below Net Profit      -2.50      0.00      0.00      0.00      0.00
P & L Balance brought forward      2.70      2.74      2.57      2.27      1.67
Appropriations      0.00      0.00      0.00      0.00      0.00
P & L Bal. carried down      0.87      2.70      2.74      2.57      2.27
Equity Dividend      0.00      0.00      0.00      0.00      0.00
Preference Dividend      0.00      0.00      0.00      0.00      0.00
Corporate Dividend Tax      0.00      0.00      0.00      0.00      0.00
Equity Dividend (%)      0.00      0.00      0.00      0.00      0.00
Earning Per Share (Rs.)      2.21      0.00      3.23      6.01      12.00
Book Value      12.90      64.09      64.70      61.47      55.46
Extraordinary Items      0.00      0.00      0.00      0.00      0.00

5. Prabhakaran Kuppusamy |Jul 31, 2017 19:17

Top Contributor (400+ Posts, 300+ Likes)

Balance Sheet(Rs.in Crs.)

Year      Mar 17      Mar 16      Mar 15      Mar 14      Mar 13
Share Capital      3.00      0.50      0.50      0.50      0.50
Reserves & Surplus      0.87      2.70      2.74      2.57      2.27
Total Shareholders Funds      3.87      3.20      3.24      3.07      2.77
Secured Loans      17.24      15.29      15.83      15.77      6.81
Unsecured Loans      5.88      5.92      9.40      3.10      2.88
Total Debt      23.12      21.21      25.23      18.87      9.69
Total Liabilities      26.99      24.41      28.47      21.94      12.46
Gross Block      2.51      2.51      2.42      0.54      0.43
Less: Accum. Depreciation      1.36      1.11      0.74      0.29      0.25
Net Block      1.15      1.40      1.68      0.25      0.18
Capital Work in Progress      0.00      0.00      0.00      0.36      0.00
Investments      0.38      0.38      0.38      0.17      0.00
Inventories      1.15      3.36      3.32      8.15      5.34
Sundry Debtors      37.91      40.42      34.36      38.20      37.64
Cash and Bank Balance      1.07      1.05      1.01      1.01      1.80
Loans and Advances      2.99      2.82      5.05      5.30      3.62
Current Liabilities      16.96      24.69      17.18      31.21      35.91
Provisions      0.70      0.31      0.16      0.29      0.20
Net Current Assets      25.46      22.65      26.40      21.16      12.29
Miscellaneous Expenses not w/o      0.00      0.00      0.00      0.00      0.00
Total Assets      26.99      24.43      28.46      21.94      12.47
Contingent Liabilities      0.34      0.38      0.32      0.32      0.32

4. Prabhakaran Kuppusamy |Jul 31, 2017 19:17

Top Contributor (400+ Posts, 300+ Likes)

Capital History
Year      Equity Capital       Remarks
201705      4.615385        Loan Conversion
201703      3        Bonus Issue
201212      0.5        Loan Conversion
201003      0.1        Bonus Issue
200805      0.01        Subscriber to MOA

3. SecTheta |Jul 31, 2017 12:03

Loss in business last to last year and suddenly huge profit in last year (For IPO purpose only?)....
A BIG AVOID....Shame on Pantomath for bringing such companies to the market to trap innocent retail investors.
My Recommendation => STAY AWAY! Lots of better opportunities are in pipeline.

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