Evoq Remedies IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 17, 2022Let’s have a detailed review of the company and analytics of the Evoq Remedies IPO release date, IPO offer price, subscription, Evoq Remedies Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 27 |
| Listing At | BSE, SME |
| Min. Order Quantity | 4000 Shares |
| Listing Date | NA |
| Offer for Sale | Rs Lakhs |
| Fresh Issue | Rs 972 Lakhs |
| IPO Size | Rs 972 Lakhs |
| Tick Size | 1 |
Evoq Remedies IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Evoq Remedies IPO – Summary
Their Company was originally incorporated as Evoq Remedies Limited on 24 February 2010, under the provisions of the Companies Act, 1956.
Subsequently, the name of their company was changed to “Evoq Remedies Private Limited” on July 15th, 2019, with certificate of Incorporation pursuant to the change of name issued by Registrar of Companies Ahmedabad.
Consequent upon the conversion of their Company into a public limited company, the name of their Company was changed to “Evoq Remedies Limited,” and a fresh Certificate of Incorporation dated July 28th, 2021, was issued by Registrar of Companies, Ahmedabad. The Corporate Identification Number of their Company is U24230GJ2010PLC059692.
The Promoter of this company is MR. BHUMISHTH NARENDRABHAI PATEL AND 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.
Evoq Remedies IPO Date
The opening and the closing date of Evoq Remedies IPO are Mar 17, 2022, and Mar 22, 2022.
Evoq Remedies IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 17th March | 0.11x | 0.26x | 0.19x |
| 2nd Day – 21st March | 0.27x | 1.12x | 0.70x |
| 3rd Day – 22nd March | 0.30x | 3.03x | 1.67x |
| Shares Offered or Net Issue | 1,710,000 | 1,710,000 | 3,420,000 |
The shares subscribed by the public will be updated here.
Check Evoq Remedies IPO LIVE Subscription
- Evoq Remedies IPO LIVE Bid details on BSE
- Evoq Remedies IPO LIVE Bid details on SME
For the Latest Bid details, click on the above links.
Evoq Remedies IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Evoq Remedies Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Mar 25, 2022 |
| Refunds Initiation | Mar 28, 2022 |
| Credit of Shares to Demat Account | Mar 29, 2022 |
| Share Listing Date | Mar 30, 2022 |
Evoq Remedies IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.27
Evoq Remedies IPO Equity Size
This Initial Public Issue of 3,600,000 Equity Shares of Rs.10 each for cash at a price of Rs.27 per equity share aggregating to Rs.972 Lakhs.
Evoq Remedies IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 3,600,000 Equity Shares of Rs.10/ each.
Issue Size: 3,600,000 Equity Shares of Rs.10 each, aggregating to Rs.972 Lakhs.
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Evoq Remedies IPO – Live Performance
The listing date of this IPO is Mar 30, 2022. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Evoq Remedies Share Price |
Evoq Remedies IPO Grey Market Premium
The Evoq Remedies Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X, and the Subject to Sauda is X.
Evoq Remedies IPO – Company Overview
Their Company was incorporated as “Salus Life Science and Research Private Limited” at Ahmedabad, Gujarat on February 24th, 2010, under the provisions of the Companies Act, 1956 vide certificate of incorporation issued by the Assistant Registrar of Companies, Gujarat, Dadra, and Nagar Havelli.
Subsequently, the name of their company was changed to “Evoq Remedies Private Limited” on July 15th, 2019, with certificate of Incorporation pursuant to change of name issued by Registrar of Companies, Ahmedabad. Consequent upon the conversion of their Company into public limited company, the name of their Company was changed to “Evoq Remedies Limited” and fresh Certificate of Incorporation dated July 28th, 2021 was issued by Registrar of Companies, Ahmedabad.
Evoq Remedies IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | ||||
| 10 Feb 22 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Total Assets | 2,660.58 | 804.63 | 565.22 | 214.78 |
| Total Revenue | 1,056.58 | 1,002.48 | 907.21 | 325.00 |
| Total Expense | 931.41 | 907.09 | 907.16 | 323.40 |
| Profit After Tax | 93.67 | 71.38 | 0.03 | 1.11 |
Earnings per Equity Share (in Lakhs)
| 10 Feb 22 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Basic & Diluted | 5.52 | 10.05 | 0.00 | 0.16 |
Further, their PAT for the period ended on Feb 10, 2022, March 31, 2021, March 31, 2020, and March 31, 2019, were Rs.93.67 Lakhs, Rs.71.38 Lakhs, Rs.0.03 Lakhs, and Rs.1.11 Lakhs respectively.
Evoq Remedies IPO – Promoters
The Promoter of this company is:
- MR. BHUMISHTH NARENDRABHAI PATEL
- MRS. PAYAL BHUMISHTH PATEL
List of Related Parties (Key Managerial Personnel)
- Mr. Yogesh M. Rajput, Chief Financial Officer
- Mr. Tej Bharatkumar Hanj, Company Secretary
Evoq IPO – Promoters Holding
- Pre Issue Share Holding – 99.99%
- Pos Issue Share Holding – 73.53%
Evoq Remedies IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 36,00,000 Equity Shares aggregating up to Rs.972 Lakhs |
| of which: | |
| Issue Reserved for the Market Makers | Up to 1,80,000 Equity Shares aggregating up to Rs.48.60 Lakhs |
| Net Issue to the Public | Up to 34,20,000 Equity Shares aggregating up to Rs.923.40 Lakhs |
| Of which: | |
| Retail Investors Portion | Not less than 17,10,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 17,10,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 1,00,00,000 Equity Shares |
| Equity Shares outstanding after the Issue | 1,36,00,000 Equity Shares |
Evoq Remedies IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. To Meet Incremental Working Capital Requirements
2. General Corporate Purpose
3. To meet Public Issue Expenses
Evoq Remedies IPO – Business Strategy
- Enhancing their customer base
- Improving functional efficiencies
- To increase brand visibility
Evoq Remedies IPO – Basis of 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:
- Experienced Management Team
- Continue to develop client relationships and Trust
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 10.05 | 96.94 | 10.37 |
| 31-Mar-20 | 0.00 | 1.22 | – |
| Mar-19 | 0.16 | 51.24 | – |
Evoq Remedies IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Evoq Remedies Limited | 10 | 2.69 | 10.05 | 96.94 | 1,002.48 |
| Listed Peers | |||||
| NA | – | – | – | – | – |
Evoq Remedies IPO Lead Managers
| Lead Managers |
| SWASTIKA INVESTMART LIMITED SEBI Registration Number: INM000012102 Merchant Banking Division Address: Flat No18 Floor 2 North Wing Madhaveshwar Coop Hsg Society Ltd Madhav Nagar, 11/12 S V Road Andheri W Mumbai Mumbai City- 400058 (Maharashtra). Telephone Number: +91-22-26254568-69 Email Id: merchantbanking@swastika.co.in Investors Grievance Id: investorgreivance@swastika.co.in Website: www.swastika.co.in Contact Person: Mr. Mohit R. Goyal CIN: L65910MH1992PLC067052 |
Evoq Remedies IPO Registrar to offer
| Registrar to the Offer |
| Bigshare Services Private Limited SEBI Registration Number: INR000001385 Address: 1 st Floor, Bharat Tin Works Building, Opp- Vasant Oasis, Makwana Road Marol, Andheri (E), Mumbai-400059, India. Tel. Number: +91 22 62638200 Fax- +91 22 62638280 Email Id: ipo@bigshareonline.com Investors Grievance Id: investor@bigshareonline.com Website: www.bigshareonline.com Contact Person: Mr. Swapnil Kate CIN: U99999MH1994PTC076534 |
Evoq IPO – Other Details
- Statutory Auditor – g J.M. Patel & Bros Chartered Accountants
- Legal Counsel to the Company – ASHA AGARWAL & ASSOCIATES
- Bankers to the Company – : The Mehsana Urban Co-Op. Bank Limited
Evoq Remedies IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Evoq Remedies Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Evoq Remedies IPO Review FAQs
Ques – What is the Issue Size of Evoq IPO?
Answer – The Company is making an initial public offer of 3600000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and the net issue.
Ques – What is the Price band of Evoq Remedies IPO?
Answer – The price band for this particular IPO ranges between Rs.27. As far as the face value of the share is of concern, it is Rs.10 per share.
Ques – What is the Evoq Remedies IPO Open Date?
Answer – The opening and closing dates for this IPO have been updated. The IPO is set to open on Mar 17, 2022, while the closing date is set at Mar 22, 2022.
Ques – What is the Evoq IPO Allotment Date?
Answer – They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Mar 25, 2022, refund initiation is on Mar 28, 2022, credit of shares is on Mar 29, 2022, and share listing date is on Mar 30, 2022.
Ques – What is the Evoq Remedies IPO Listing Date?
Answer – Shares of this company shall be listed in the exchanges Mar 30, 2022. The date, when the listing would be done, is stagnant on Mar 30, 2022.
Ques – Who is the Registrar of Evoq Remedies IPO?
Answer – One of the reputed registrars is managing the issue of this IPO, i.e. Bigshare Services Private Limited. Their website will help you regarding the further information you are on the lookout for.
Ques – Who is the Promoter of Evoq Remedies IPO?
Answer – Here are the promoters of this IPO – MR. BHUMISHTH NARENDRABHAI PATEL AND MRS. PAYAL BHUMISHTH PATEL. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
Ques – What is GMP of Evoq IPO?
Answer – They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Ques – Is Evoq Remedies IPO good for Investment?
Answer – They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
Ques – What is the PAT of Evoq Remedies Company?
Answer – They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Lakhs is 71.38, 2020 is 0.03, 2019 is 1.11.
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