Earum Pharmaceuticals IPO Review, Dates, Allotment, Subscription, Bid & DRHP
Last Updated Date: Nov 16, 2022Let’s have a detailed review of the company and analytics of the Earum Pharmaceuticals IPO release date, IPO offer price, subscription, Earum Pharmaceuticals IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Earum Pharmaceuticals is engaged in the pharmaceutical business involving marketing, trading and distribution of wide range of pharmaceutical formulation products. 
Earum Pharmaceuticals IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 7.5/10 |
| Industry Ranking | 7.1/10 |
| Company Background | 7.4/10 |
| Company Reputation | 7.2/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.1/10 |
| Popularity Index | 7.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.1/10 |
| Top Brokers Review | 7.5/10 |
| Overall Ratings | 7.3/10 |
| Star Ratings | ★★★☆☆ |
Summary of Earum Pharmaceuticals IPO
Earum Pharmaceuticals Limited is engaged in the pharmaceutical business involving marketing, trading and distribution of wide range of pharmaceutical formulation products.
As per Restated Financial statements
- For the nine (9) months period ended December 31, 2018 and fiscal 2018, 2017 and 2016, their total revenues were Rs. 3450.35 lakhs, Rs. 3584.65 lakhs, Rs. 2369.27 lakhs, and Rs. 1863.00 lakhs, respectively.
- The net asset value per Equity Share was Rs. 164.50 and Rs. 136.46 as of Dec 30, 2018 and March 31, 2018, respectively, as per the Restated Financial Statements
- The net worth of the company as on March 31, is Rs. 421.08 lakhs as per the Restated Ind AS Consolidated Summary Statement of Assets and Liabilities.
- The Profit after Tax for the similar period mentioned above was Rs. 86.51 lakhs, Rs. 85.65 lakhs, Rs. 15.98 lakhs, and Rs. 9.76 lakhs, respectively.
The Promoters of this company are Mr. Bhumishth Narendrabhai Patel, Mrs. Payal Bhumishth Patel. The lead manager to the issue is Hem Securities Limited and the Registrar to this issue is Bigshare Services Private Limited.
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Earum Pharmaceuticals IPO Date
The opening and the closing date of Earum Pharmaceuticals IPO is Jun 21 – Jun 26, 2019.
Earum Pharmaceuticals IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – Jun 21 | 1.16x | 0.02x | 0.59x |
| 2nd Day – Jun 24 | 1.29x | 0.25x | 0.77x |
| 3rd Day – Jun 25 | 1.30x | 0.32x | 0.81x |
| 4th Day – Jun 26 | |||
| Shares Offered or Net Issue | 876,000 | 876,000 | 1,752,000 |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Earum Pharmaceuticals IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
| Basis of Allotment Finalization | Jul 1, 2019 |
| Refunds Initiation | Jul 2, 2019 |
| Credit of Shares to Demat Account | Jul 3, 2019 |
| Share Listing Date | Jul 4, 2019 |
Earum Pharmaceuticals IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is Rs 36.
Earum Pharmaceuticals IPO Equity Share Offering
This is an Initial Public Fresh Issue of 18,48,000 Equity Shares of face value of Rs. 10 each of the Company for cash at a price of Rs. 36 per Equity Share (including a share premium of Rs. 26 per Equity Share) aggregating up to Rs. 665 lakhs.
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Earum Pharmaceuticals Limited – Company Overview
Earum Pharmaceuticals Limited was originally incorporated as “Earum Pharmaceuticals Private Limited” on July 26, 2012. On January 10, 2019, the company was converted into a Public Limited Company and consequently the name of the Company was changed from “Earum Pharmaceuticals Private Limited” to “Earum Pharmaceuticals Limited” vide a fresh Certificate of Incorporation dated January 23, 2019 provisions of the Companies Act, 1956.
Earum Pharmaceuticals Product Line
It is engaged in the pharmaceutical business involving marketing, trading and distribution of wide range of pharmaceutical formulation products such as anti-biotic drugs, anti-malarial drugs, anti-allergic &anti cold drugs, analgesic/ anti-pyretic & anti inflammatory drugs, dermatology products, cerebral activator drugs, neurological drugs, gastro intestinal drugs, steroids, gynecology drugs, calcium, multivitamins, anti-oxidants and injections.
They also offer around 125 pharmaceutical formulation products, of which around 24 products are marketed by us under their own brandname, the manufacturing of which is outsourced by them to third parties. Apart from pharmaceutical formulation products, they also deal in trading of active pharmaceutical ingredients (API’s) such as Levofloxacin Hemihdrate IP Albendazol IP, Amoxicillin Trihydrate IP etc.
They have the registered office, corporate office and warehouse situated at Ahmedabad (Gujarat).
Competitive Strengths of Earum Pharmaceuticals Limited:
- Diversified Product Portfolio
- Experienced Promoter and Management Team
- Quality Assurance
Business strategies of Earum Pharmaceuticals Limited:
- Make their presence in Global Market
- Leveraging their Marketing skills and Relationships
- Focus on dealing in quality standard products
- To build-up a professional organization
- Develop cordial relationship with their Suppliers, Customer and employees
Earum Pharmaceuticals Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary Earum Pharma IPO
On the basis of Standalone statement:
| Amount (in INR & lakhs) | ||||
| 30-Dec-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Total Assets | 2,741.00 | 22,492.59 | 1,108.45 | 878.71 |
| Total Revenue | 3,450.35 | 3,584.65 | 2,369.27 | 1,863.00 |
| Total Expense | 3,330.69 | 3,460.51 | 2,345.60 | 1,846.96 |
| Profit After Tax | 86.51 | 85.65 | 15.98 | 9.76 |
Earnings per Equity Share (in lakhs)
| 30-Dec-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 2.00 | 3.50 | 1.06 | 0.88 |
From the above statements, one could find that the Earum Pharmaceuticals Limited may perform well.
Earum Pharmaceuticals IPO – Promoters
The Promoters of this company are:
- Mr. Bhumishth Narendrabhai Patel
- Mrs. Payal Bhumishth Patel
List of Related Parties (Key Managerial Personnel)
- Mr. Bhumishth Narendrabhai Patel – Managing Director
- Mrs. Payal Bhumishth Patel – Whole Time Director
- Ms. Ashna Sangwan – CFO
- Mr. Mr. Parsotam Kantilal Purohit – Compliance officer & CS
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company.
As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Earum Pharmaceuticals IPO Offer Details or Earum Pharma IPO Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | 18,48,000 Equity Shares aggregating up to Rs. [●] lakhs |
| Of which: | |
| Reserved for Market Makers | [●] Equity Shares aggregating up to Rs. [●] lakhs |
| Net Issue to the Public | [●] Equity Shares aggregating up to Rs. [●] lakhs |
| Of which: | |
| Retail Investors Portion | At least [●] Equity Shares aggregating up to Rs. [●] lakhs will be available for allocation to Retail Individual Investors |
| Non-Retail Investors Portion | Not more than [●] Equity Shares aggregating up to Rs. [●] lakhs will be available for allocation to investors other than Retail Individual Investors including Non- Institutional Investors and Qualified Institutional Buyers |
| Equity Shares outstanding prior to the Issue | 43,19,910 Equity Shares |
| Equity Shares outstanding after the Issue | Upto 61,67,910 Equity Shares of face value of Rs. 10 each |
Earum Pharma IPO Issue Object
These are the IPO Issue Objects of the company
- Funding the Working Capital requirements of the Company:
- Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions by the company
Earum Pharma IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Diversified Product Portfolio
- Experienced Promoter and Management Team
- Quality Assurance
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW in % | NAV (Rs.) | |
| 31-Mar-16 | 0.88 | 7.14 | – |
| 31-Mar-17 | 1.06 | 10.48 | – |
| 31-Mar-18 | 3.50 | 20.34 |
136.46 |
- Price to Earnings (P/E) ratio in relation to Issue Price of [●]
| Particulars | P/E ratio |
| Highest | 30.96 |
| Average | 30.96 |
| Lowest | 30.96 |
Competitive Peers Earum Pharmaceuticals IPO
| Sr. No. | Particulars | Face Value (in Rs.) | EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| 1 | Earum Pharmaceuticals Limited | 10 | 3.50 | [●] | 20.34 | 136.86 |
| 2 | Vaishali Pharma Ltd.* | 10 | 1.4 | 30.96 | 3.87 | 25.83 |
Earum Pharmaceuticals IPO Lead Managers
| Lead Managers |
| HEM SECURITIES LIMITED 904,A Wing, Naman Midtown, Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai-400013, India Tel. No.: +91- 022- 49060000 Fax No.: +91- 022- 22625991 Website: www.hemsecurities.com Email: ib@hemsecurities.com Investor Grievance Email: redressal@hemsecurities.com Contact Person :Mr. Anil Bhargava SEBI Regn. No. INM000010981 |
Earum Pharmaceuticals IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED, Address -1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai – 400059 – 400072. India. Tel. No. – 022 – 62638200 Website: www.bigshareonline.com/ Email: ipo@bigshareonline.com Investor Grievance Email: investor@bigshareonline.com Contact Person: Mr. Ashok Shetty Regn. No. INR000001385 |
Other Details of Earum Pharma IPO
- Statutory Auditor –M/s. J M Patel & Bros.
- Peer Review Auditor – M/s. J M Patel & Bros.
- Bankers to the Company – State Bank of India
Earum Pharma IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.2/10 | 7.4/10 | 7.2/10 | 7.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 7.7/10 | 7.1/10 | 7.5/10 |
| Kotak Securities | 7.3/10 | 7.2/10 | 7.4/10 | 7.1/10 | 7.2/10 |
| ICICI Direct | 7.4/10 | 7.3/10 | 7.7/10 | 7.2/10 | 7.1/10 |
| IIFL | 7.2/10 | 7.2/10 | 7.8/10 | 7.0/10 | 7.1/10 |
| Edelweiss | 7.2/10 | 7.4/10 | 7.3/10 | 7.3/10 | 7.2/10 |
| Zerodha | 7.3/10 | 7.1/10 | 7.2/10 | 7.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 7.3/10 | 7.1/10 | 7.1/10 |
| Karvy | 7.3/10 | 7.4/10 | 7.2/10 | 7.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 7.7/10 | 7.3/10 | 7.2/10 |
Earum Pharmaceuticals IPO Grey Market Premium
The Earum Pharmaceuticals IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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Earum Pharmaceuticals IPO News
News 1 – IPO ISSUE OPENS SOON [Download Prospectus]
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