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Earum Pharmaceuticals IPO Review, Dates, Allotment, Subscription, Bid & DRHP

Let’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
CriteriaRatings
Industry Sentiments7.5/10
Industry Ranking7.1/10
Company Background7.4/10
Company Reputation7.2/10
Competitive Edge7.7/10
Financial Statements7.1/10
Popularity Index7.4/10
Promoters Reputation7.7/10
Retail Appetite7.1/10
Top Brokers Review7.5/10
Overall Ratings7.3/10
Star Ratings★★★☆☆

Summary of Earum Pharmaceuticals IPO

Earum Pharmaceuticals IPOEarum 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 PatelThe lead manager to the issue is Hem Securities Limited and the Registrar to this issue is Bigshare Services Private Limited.



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 / DateNIIRIITotal Subscription
1st Day – Jun 211.16x0.02x0.59x
2nd Day – Jun 241.29x0.25x0.77x
3rd Day – Jun 251.30x0.32x0.81x
4th Day – Jun 26
Shares Offered or Net Issue876,000876,0001,752,000

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 FinalizationJul 1, 2019
Refunds InitiationJul 2, 2019
Credit of Shares to Demat AccountJul 3, 2019
Share Listing DateJul 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.


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-1831-Mar-1831-Mar-1731-Mar-16
Total Assets2,741.00 22,492.591,108.45 878.71
Total Revenue3,450.35 3,584.65 2,369.27 1,863.00
Total Expense3,330.69 3,460.51 2,345.60 1,846.96
Profit After Tax86.51 85.6515.98  9.76

Earnings per Equity Share (in lakhs)

30-Dec-1831-Mar-1831-Mar-1731-Mar-16
Basic & Diluted2.003.501.060.88

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 PortionNot 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 Issue43,19,910 Equity Shares
 Equity Shares outstanding after the IssueUpto 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 EPSRONW in %NAV (Rs.)
31-Mar-160.887.14
31-Mar-171.0610.48
31-Mar-183.5020.34
136.46
  • Price to Earnings (P/E) ratio in relation to Issue Price of [●]
ParticularsP/E ratio
Highest30.96
Average30.96
Lowest30.96

Competitive Peers Earum Pharmaceuticals IPO

Sr. No. ParticularsFace Value  (in Rs.) EPS (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
1Earum Pharmaceuticals Limited103.50[●]20.34136.86
2Vaishali Pharma Ltd.*101.430.963.8725.83

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:
Investor Grievance Email:
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:
Investor Grievance Email:
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 ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.2/107.4/107.2/107.1/107.1/10
Sharekhan7.2/107.1/107.7/107.1/107.5/10
Kotak Securities7.3/107.2/107.4/107.1/107.2/10
ICICI Direct7.4/107.3/107.7/107.2/107.1/10
IIFL7.2/107.2/107.8/107.0/107.1/10
Edelweiss7.2/107.4/107.3/107.3/107.2/10
Zerodha7.3/107.1/107.2/107.1/107.0/10
5Paisa7.1/107.1/107.3/107.1/107.1/10
Karvy7.3/107.4/107.2/107.1/107.1/10
Motilal Oswal7.1/107.1/107.7/107.3/107.2/10

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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