Sudarshan Pharma Industries was incorporated on July 23, 2008. The company is engaged in the business of specialty chemicals and intermediates for pharma, agrochemicals, coating, paints, adhesives, etc. It is also into manufacturing active pharmaceutical ingredients.
| Bidding Dates |
|---|
| 09 Mar 2023 - 14 Mar 2023 |
| Subscription |
|---|
| 1.06x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,16,800 | 1 | 1 | 1600 | 6.9 M | ₹71 - ₹73 | 71.48 % | ₹487.2 M - ₹501.0 M | RHP DOC |
Sudarshan Pharma IPO SUBSCRIPTION STATUS
14 Mar '23Sudarshan Pharma IPO overall subscription rate was 1.06 times the total available shares
Sudarshan Pharma IPO retail subscription rate was 1.2 times in the retail segment
Sudarshan Pharma IPO non-institutional investor subscription rate was 0.81 times in the non-institutional investor category
Sudarshan Pharma IPO Qualified Institutional Bidder subscription rate was 1.01 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
14 Mar 2023 (Day 4) | 1.2x | 0.81x | 1.01x |
13 Mar 2023 (Day 3) | 0.88x | 0.58x | 0x |
10 Mar 2023 (Day 2) | 0.67x | 0.38x | 0x |
09 Mar 2023 (Day 1) | 0.47x | 0.37x | 0x |
Sudarshan Pharma FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| H1FY23 | 36.1 | 1,954.9 | 84.4 | -27.7 |
| FY22 | 53.0 | 3,570.9 | -37.4 | -48.6 |
| FY21 | 26.7 | 1,933.5 | 27.9 | 14.7 |
| FY20 | 12.8 | 1,479.8 | 6.7 | -33.7 |
Sudarshan Pharma IPO SUBSCRIPTION STATUS DETAILS
Sudarshan Pharma had 6.9 M shares on offer
Sudarshan Pharma IPO offer price was in the range ₹71 - ₹73
Sudarshan Pharma IPO minimum Investment was ₹116800
Sudarshan Pharma IPO issue size was ₹ 487.2 M - ₹ 501.0 M
Sudarshan Pharma had a minimum lot size of 1600 Shares per application
Sudarshan Pharma NUMBER OF SHARES ON OFFER
Sudarshan Pharma IPO IMPORTANT DATES
| Issue Open Date | 09 Mar 2023 |
| Issue close Date | 14 Mar 2023 |
| Allotment Date | 17 Mar 2023 |
| Refund Date | 20 Mar 2023 |
| Demat Account Credit Date | 21 Mar 2023 |
| Listing Date | 22 Mar 2023 |
| Listing on Exchange(s) | BSE |
| Sudarshan Pharma Allotment Status | Exchange |
Sudarshan Pharma IPO subscription opened on 09 Mar 2023, and closed on 14 Mar 2023
IPO allotment for Sudarshan Pharma was finalized on Friday, 17 Mar 2023
IPO listing for Sudarshan Pharma was on BSE on Wednesday, 22 Mar 2023
Sudarshan Pharma IPO LISTING GAINS
| Issue Price (adjusted) | 7.3 |
| Listing Open Price | 73.0 |
| Listing Close Price | 69.3 |
| Listing Gain% | 0.0% |
| Current Gain% | 365.8% |
Sudarshan Pharma Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sudarshan Pharma Industries Ltd. | 34 | 81.8 | 35.1 | 0.8 | 1.2 | 15 | 3.6 | 711.8 | 40.2 | 23.3 | 46.1 | 1 | 45.6 |
| Pidilite Industries Ltd. | 1660 | 168953.2 | 63.8 | 3 | 11 | 22.6 | 15.9 | 14867 | 11.1 | 2448.9 | 17.9 | 26 | 21.4 |
| SRF Ltd. | 2615 | 77515.1 | 35.9 | 0.7 | 4.6 | 13.1 | 7.6 | 15893.6 | 7.2 | 1835.2 | 46.7 | 72.9 | 51.1 |
| Gujarat Fluorochemicals Ltd. | 4518.1 | 49631.3 | 85.9 | 14.7 | 9.9 | 7.3 | 4.9 | 5038 | 3.8 | 578 | 5.8 | 52.6 | 5.9 |
| Himadri Speciality Chemical Ltd. | 752.6 | 37975.8 | 47.5 | 1.6 | 7.6 | 16 | 11.9 | 4832 | 3.6 | 751.3 | 35.2 | 15.8 | 30 |
| Aether Industries Ltd. | 1591.6 | 21122.5 | 89.8 | 2.6 | 17.3 | 8.9 | 6.8 | 1181.1 | 34.2 | 219.5 | 38.5 | 17.7 | 34 |
Sudarshan Pharma INFORMATION ON IPO ISSUE
About Sudarshan Pharma
Sudarshan Pharma Industries was incorporated on July 23, 2008. The company is engaged in the business of specialty chemicals and intermediates for pharma, agrochemicals, coating, paints, adhesives, etc. It is also into manufacturing active pharmaceutical ingredients.
Object of the Issue
- Working capital requirements
- General corporate purposes
Sudarshan Pharma - PROMOTERS
| Name |
|---|
| Hemal Vasantrai Mehta |
| Sachin Vasantrai Mehta |
Sudarshan Pharma Lead Manager of the Issue
Gretex Corporate Services Limited
info@gretexgroup.com
Sudarshan Pharma Registrar to the issue
Kfin Technologies Private Limited
einward.ris@kfintech.com
Sudarshan Pharma Strengths
Scalable business model
The company has a scalable business model as it is customer-centric and order driven, and requires optimum utilization of the existing resources, assuring quality supply
Range of products
The company has more than 2,000 specialty chemicals and intermediates for pharma, agrochemicals, coating, paints and adhesives. It is also into manufacturing active pharmaceutical ingredients
Diversified business operations
The business is diversified in terms of geography and therapeutic areas in the pharmaceutical industry, and specialty chemicals in the chemical industry
Sudarshan Pharma Risks
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, subsidiary, group entity, promoters and directors. Any adverse decision in such proceedings may have an adverse effect on the business
Highly competitive industry
The company operates in a highly competitive industry, which could limit its ability to grow
IPO FAQs
The promoters of the company are Hemal Vasantrai Mehta and Sachin Vasantrai Mehta.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 71.0 - 73.0.
The IPO application opens on Mar 09, 2023 and closes on Mar 14, 2023.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 116,800.0, the maximum value for this IPO is Rs 116,800.0.
This IPO will be allotted on Mar 17, 2023.
The refund will be credited to your account on Mar 20, 2023.
The allotted shares will be credited to your demat on Mar 21, 2023.
Sudarshan Pharma Industries Ltd.’s shares listed on the stock exchanges on Mar 22, 2023.