Sunrest Lifescience was incorporated on 30 October 2017 and is engaged in marketing OTC generic pharmaceutical products in the domestic market. Its range includes capsules, tablets, syrup, ointment, gel, mouthwash, solutions, suspensions, dry powders, and toothpaste.
| Bidding Dates |
|---|
| 07 Nov 2023 - 09 Nov 2023 |
| Subscription |
|---|
| 45.1x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,34,400 | 1 | 1 | 1600 | 1.3 M | ₹84 | 69.91 % | ₹108.5 M | RHP DOC |
Sunrest Lifescience IPO SUBSCRIPTION STATUS
09 Nov '23Sunrest Lifescience IPO overall subscription rate was 45.1 times the total available shares
Sunrest Lifescience IPO retail subscription rate was 62.4 times in the retail segment
Sunrest Lifescience IPO non-institutional investor subscription rate was 27.79 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
09 Nov 2023 (Day 3) | 62.4x | 27.79x | - |
08 Nov 2023 (Day 2) | 18.6x | 2.61x | - |
07 Nov 2023 (Day 1) | 5.43x | 0.57x | - |
Sunrest Lifescience 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) | Margins |
| Q1FY24 | 7.5 | 56.4 | -11.6 | -11.6 | 17.8% |
| FY23 | 20.4 | 246.4 | 11.5 | 11.4 | 11.9% |
| FY22 | 7.8 | 268.9 | -4.5 | -8.1 | 4.2% |
| FY21 | 1.7 | 169.5 | 1.5 | -0.1 | 1.6% |
Sunrest Lifescience IPO SUBSCRIPTION STATUS DETAILS
Sunrest Lifescience had 1.3 M shares on offer
Sunrest Lifescience IPO offer price was ₹84
Sunrest Lifescience IPO minimum Investment was ₹134400
Sunrest Lifescience IPO issue size was ₹ 108.5 M
Sunrest Lifescience had a minimum lot size of 1600 Shares per application
Sunrest Lifescience NUMBER OF SHARES ON OFFER
Sunrest Lifescience IPO IMPORTANT DATES
| Issue Open Date | 07 Nov 2023 |
| Issue close Date | 09 Nov 2023 |
| Allotment Date | 15 Nov 2023 |
| Refund Date | 16 Nov 2023 |
| Demat Account Credit Date | 17 Nov 2023 |
| Listing Date | 20 Nov 2023 |
| Listing on Exchange(s) | NSE |
| Sunrest Lifescience Allotment Status | Exchange |
Sunrest Lifescience IPO subscription opened on 07 Nov 2023, and closed on 09 Nov 2023
IPO allotment for Sunrest Lifescience was finalized on Wednesday, 15 Nov 2023
IPO listing for Sunrest Lifescience was on NSE on Monday, 20 Nov 2023
Sunrest Lifescience IPO LISTING GAINS
| Issue Price (adjusted) | 84.0 |
| Listing Open Price | 84.0 |
| Listing Close Price | 79.8 |
| Listing Gain% | 0.0% |
| Current Gain% | -51.8% |
Sunrest Lifescience 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sunrest Lifescience Ltd. | 40.5 | 17.4 | 4.3 | 0 | 0.2 | 39.1 | 11.2 | 73.3 | 119.5 | 8 | 298.7 | 9.3 | 99.3 |
| Sun Pharmaceutical Industries Ltd. | 1945 | 466670.7 | 38.6 | 2.3 | 7.8 | 13.7 | 10.6 | 60433.8 | 10.8 | 11479.4 | 5 | 50.4 | 16.6 |
| Divi's Laboratories Ltd. | 8275 | 219675.3 | 75.1 | 2.8 | 19.6 | 15.3 | 12.8 | 11067 | 14 | 2568 | 17.2 | 110.2 | 26.8 |
| Torrent Pharmaceuticals Ltd. | 4924 | 187293.2 | 85.9 | 9.6 | 11.9 | 25.8 | 4.9 | 13886.2 | 20.3 | 2163.4 | 13.2 | 57.3 | 8.9 |
| Cipla Ltd. | 1463.8 | 118253.6 | 35.1 | -0.9 | 4.2 | 11.3 | 9.1 | 29044.6 | 2.2 | 3879.2 | -26.4 | 41.7 | -37.5 |
| Zydus Lifesciences Ltd. | 1114.2 | 112114.6 | 22.2 | 2.3 | 4.1 | 18.6 | 9.6 | 27657.9 | 17.6 | 5040 | 11.4 | 50.1 | 9.6 |
Sunrest Lifescience INFORMATION ON IPO ISSUE
About Sunrest Lifescience
Sunrest Lifescience was incorporated on 30 October 2017 and is engaged in marketing OTC generic pharmaceutical products in the domestic market. Its range includes capsules, tablets, syrup, ointment, gel, mouthwash, solutions, suspensions, dry powders, and toothpaste.
Object of the Issue
- Meeting working capital requirements
- General corporate purpose
- Meeting public issue expenses
Sunrest Lifescience - PROMOTERS
| Name |
|---|
| Nikhilkumar Y Thakkar |
| Amitbhai Shambhulal Thakkar |
| Bhagyesh Kiritbhai Parekh |
| Bharatkumar V Thakkar |
Sunrest Lifescience Lead Manager of the Issue
Mark Corporate Advisors Private Limited
smeipo@markcorporateadvisors.com
Sunrest Lifescience Registrar to the Issue
Skyline Financial Services Private Limited
virenr@skylinerta.com
Sunrest Lifescience Strengths
Wide range of products
The company's product range includes capsules, tablets, liquid ointments, gels, ice gels, mouthwash, pastes, solutions, suspensions, dry powders, and toothpaste. It holds 18 registered trademarks for 32 of its products
Efficient marketing team
The marketing team works on a commission basis, which means that it secures orders and, once these are executed, the commission is paid to the team
Sunrest Lifescience Risks
Tax proceedings
At present, the company is involved in tax proceedings, and there are outstanding legal proceedings involving the company, its directors, and its promoter
Negative cash flow
The company has experienced negative cash flow from operating activities in recent fiscal years. Sustained negative cash flow may adversely impact the business
IPO FAQs
The promoters of the company are Nikhilkumar Y Thakkar, Amitbhai Shambhulal Thakkar, Bhagyesh Kiritbhai Parekh and Bharatkumar V Thakkar.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 84.0 - 84.0.
The IPO application opens on Nov 07, 2023 and closes on Nov 09, 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. 134,400.0, the maximum value for this IPO is Rs 134,400.0.
This IPO will be allotted on Nov 15, 2023.
The refund will be credited to your account on Nov 16, 2023.
The allotted shares will be credited to your demat on Nov 17, 2023.
Sunrest Lifescience Ltd.’s shares listed on the stock exchanges on Nov 20, 2023.