Saroja Pharma Industries IPO will open for subscription from 31 August 2023. The company aims for an issue size of ₹9.11 Cr through this IPO.
Company Overview
| Full name | Saroja Pharma Industries Limited |
| Sector | Healthcare |
| Industry | Pharmaceuticals & Healthcare |
| Company Website | https://www.sarojapharma.com/ |
About Company
Saroja Pharma Industries was founded in 2019 by Mr. Biju Gopinathan Nair and Mr. Manish Dasharath Kamble, with a vision of becoming a globally integrated and highly regarded pharmaceutical and healthcare company. Saroja Pharma trades in Pharma API, Pharma Intermediates, Chemicals, and Solvents used for pharmaceutical products, and human and veterinary medicine. The Company was formed with a mission being providing clientele with specification-based approved products at a competitive pricing with hassle-free dispatch within India or aboard contributing to cost effectiveness in end products for human and veterinary medicine.
The product demand by its clientele is manufactured as per their specifications by suppliers initially in sample size thereafter on client testing and approval the order is finalized. The approved specified product is manufactured for the order quantity to be dispatched by the appropriate mode of transport within India or abroad. Growth in recent years has propelled the company to venture into the manufacturing of API Pharma products, for veterinary use. As of 31 March 2023, the company had a total of 13 employees, all working at its corporate office.
The Objective of the Issue
- To set up a Manufacturing Unit.
- To Repay the Unsecured Loans.
- Public Issue Expenses.
IPO Timetable
| IPO Opening date | 31 August 2023 |
| IPO Closing | 05 September 2023 |
| Basis of Allotment | 08 September 2023 |
| Initiation Refund | 11 September 2023 |
| Credit to Demat Account | 12 September 2023 |
| Listing Date | 13 September 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹9.11 Cr – 1,084,800 shares |
| Fresh Issue | ₹9.11 Cr – 1,084,800 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹84 per share |
| Lot size | 1600 Shares |
| Market Maker portion | 54,400 shares |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹134,400 |
| Retail (Max) | 1 | 1600 | ₹134,400 |
| HNI (Min) | 2 | 3,200 | ₹268,800 |
Reservation Details
| Other Shares Offered | 50% |
| Retail Shares Offered | 50% |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 36.66 | 55.63 | 50.19 |
| Expenses | 35.71 | 54.38 | 48.86 |
| Net income | 0.73 | 1.14 | 1.06 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 2.69 | 3.96 | 3.61 |
| PE ratio | – | – | 23.27 |
| RONW (%) | 78.14 | 28.32 | 20.85 |
| NAV | 3.44 | 14.00 | 17.33 |
| ROCE (%) | 26.0 | 25.0 | 25.0 |
| EBITDA (%) | 3.78 | 4.36 | 5.73 |
| Debt/Equity | 3.22 | 1.52 | 2.00 |
Company Promoters
- Mr. Biju Gopinathan Nair
- Mr. Manish Dasharath Kamble
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.02% |
Lead Manager(s)
SWASTIKA INVESTMART LIMITED
Flat No18 Floor 2 North Wing, Madhaveshwar
Coop Hsg Society Ltd Madhav Nagar,
11/12 S V Road Andheri W Mumbai Mumbai City – 400058
Phone: +91-22-26254568-69
Email: merchantbanking@swastika.co.in
Website: www.swastika.co.in
IPO Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: spiil.ipo@kfintech.com
Website: www.kfintech.com
Contact Details
CPS SHAPERS LIMITED
Plot No. 31, New Mayur Vihar Near Raj Vansh Vihar,
Garh Road, Meerut – 250002, Uttar Pradesh, India
Phone: +91 9084735560
E-mail: investor@dermawear.co.in
Website: www.cpsshapersltd.com
Allotment Status
Saroja Pharma IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
Saroja Pharma Industries IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
