Sudarshan Pharma Industries IPO will open for subscription from 09 March 2023. the company aims for an issue size of ₹50.10 Cr through this IPO.
About Company
Incorporated in 2008, Mumbai-based Sudarshan Pharma Industries (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 suppliers in India and abroad.
The generic products supplied by the company have wide applications in the paint, food, pharma, and adhesive industries. The company is involved in contract manufacturing, supplying, and outsourcing medicines and pharma formulation to hospitals, NGOs, government, and healthcare institutes. SPIL has 100 pharma formulations supplied under the brand name in the form of tablets, capsules, dry powder, dry injections powder, liquids, injections & dry injections.
The company has its own sales force and distribution network in 5 states for ethical marketing of pharmaceutical formulations & products under the brand name in Indian and international markets. It also offers formulation development and QC services and provides customized solutions. The company has exported to countries like Saudi Arabia, Qatar, Uzbekistan, Bangladesh, Ghana, Georgia, Taiwan, Sultanate of Oman, (Muscat) Dubai, (UAE) & UK.
Basic details about the company
| Full name | Sudarshan Pharma Industries Ltd |
| Sector | Healthcare |
| Industry | Pharmaceuticals & Drugs |
| Company Website | http://www.sudarshanpharma.com/ |
The objective of the Issue
- For Working Capital Requirements
- General Corporate Purposes.
IPO Timetable
| IPO Opening date | 09 March 2023 |
| IPO Closing | 14 March 2023 |
| Basis of Allotment | 17 March 2023 |
| Initiation Refund | 20 March 2023 |
| Credit to Demat Account | 21 March 2023 |
| Listing Date | 22 March 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹50.10 Cr – 6,862,400 shares |
| Fresh Issue | ₹50.10 Cr – 6,862,400 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹71 to ₹73 per share |
| Lot size | 1600 Shares |
| Retail Allocation | 35% of the Net Issue |
| Listing Exchange | BSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹116,800 |
| Retail (Max) | 1 | 1600 | ₹116,800 |
| HNI (Min) | 2 | 3,200 | ₹233,600 |
Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | Q1 FY 2023 | |
| Revenue | 147.98 | 193.35 | 357.10 | 105.51 |
| Expenses | 146.28 | 190.15 | 350.37 | 102.89 |
| Net income | 1.28 | 2.67 | 5.30 | 2.25 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | 0.83 | 1.75 | 3.39 |
| PE ratio | – | – | 20.94 – 21.53 |
| RONW (%) | 6.43 | 11.85 | 17.63 |
| NAV | 12.98 | 14.76 | 19.23 |
| ROCE (%) | 22.69 | 30.34 | 35.29 |
| EBITDA (%) | 3.23 | 3.90 | 3.20 |
| Debt/Equity | 1.05 | 1.32 | 1.03 |
Company Promoters
- Mr. Hemal Vasantrai Mehta
- Mr. Sachin Vasantrai Mehta
Promoter Holding
| Pre Issue Share Holding | 80.28% |
| Post Issue Share Holding | – |
Lead Manager(s)
- Gretex Corporate Services Pvt Ltd
IPO Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Telephone: +91 40 6716 2222
Email: einward.ris@kfintech.com
Website: www.kfintech.com
Contact Details
SUDARSHAN PHARMA INDUSTRIES LIMITED
301,3rd Floor, Aura Biplex,
Above Kalyan Jewellers S. V. Road,
Borivali (West) Mumbai City Maharashtra 400092
Phone: 022- 022- 42221111
E-mail: compliance@sudarshanpharma.com
Website: www.sudarshanpharma.com
Allotment Status
Sudarshan Pharma IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
Sudarshan 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 do 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
