Par Drugs and Chemicals IPO Review, Dates, Allotment, Subscription, GMP & DRHP

Par Drugs and Chemicals is engaged in the development and manufacture of Active Pharma Ingredients (“APIs”) for the domestic market as well as for exports to international markets. 

Let’s have a detailed review of the company and analytics of the Par Drugs and Chemicals IPO release date, IPO offer price, subscription, Par Drugs and Chemicals IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Par Drugs and Chemicals IPO Review & Ratings

IPO Ratings & Review
Criteria Ratings
Industry Sentiments 7.5/10
Industry Ranking 7.1/10
Company Background 7.3/10
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 7.9/10
Overall Ratings 7.4/10
Star Ratings ★★★★☆

Summary of Par Drugs and Chemicals IPO

PAR DRUGS IPO PAR DRUGS AND CHEMICALS LIMITEDPar Drugs and Chemicals is engaged in the development and manufacture of Active Pharma Ingredients (“APIs”) for the domestic market as well as for exports to international markets. Initial Public Offering Issue of Upto 17,00,000* Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. [●]/- per Equity Share aggregating Rs. [●] lakhs.

From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements:

  • Revenues have decreased from Rs. 4,880.90 lakhs in FY 2016-17 to 4,241.65 lakhs in FY 2017-18. total revenues have grown at a CAGR of 12.86% from 3,330.37 lakhs for the financial year 2016 to 4.241.65 lakhs for the financial year 2018 and the restated profit for the year has grown at a CAGR of 88.28% from 42.18 lakhs for the financial year
    2016 to 149.53 lakhs for the financial year 2018.
  • The net asset value per Equity Share was Rs. 60.43 and Rs. 55.36 as of Sept 30, 2018 and March 31, 2018, respectively, as per the Restated Standalone Financial Statements.
  • The net worth of the company as on March 31, is  Rs. 3284.36 lakhs as per the Restated Ind AS Consolidated Summary Statement of Assets and Liabilities.
  • The net profit after tax was Rs. 184.78 lakhs in FY 2016-17 and Rs. 149.53 lakhs in FY 2017-18.

The Promoters of this company are Falgun Vallabhbhai Savani and Jignesh Vallabhbhai Savani. The lead manager to the issue is Pantomath Capital Advisors Private Limited and the Registrar to this issue is Link Intime India Private Limited.



Par Drugs IPO Dates

The opening and the closing date of Par Drugs and Chemicals IPO is not known yet.


Par Drugs and Chemicals IPO Subscription

Day / Date QIB NII RII Total Subscription
1st Day – 
2nd Day – 
3rd Day – 
4th Day – 
5th Day – 
Shares Offered or Net Issue

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Par Drugs and Chemicals IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


Par Drugs IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Par Drugs IPO Equity Share Offering

Issue of Upto 17,00,000* Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. [●]/- per Equity Share aggregating Rs. [●] lakhs


Par Drugs and Chemicals Limited – Company Overview

Par Drugs and Chemicals Limited was originally incorporated as a “Par Drugs And Chemicals Private Limited” at Bhavnagar, Gujarat as a Private Limited Company under the provisions of the Companies Act, 1956 vide certificate of incorporation dated February 26, 1999. Subsequently, the Company was converted into a Public Limited Company pursuant to shareholders resolution passed at Extra-ordinary General Meeting of the Company held on October 24, 2018.

Par Drugs and Chemicals is engaged in the development and manufacture of Active Pharma Ingredients (“APIs”) for the domestic market as well as for exports to international markets. APIs, also known as “bulk drugs” or “bulk actives” are the principal ingredient used in making finished dosages in the form of capsules, tablets, liquid, or other forms of dosage, with the addition of other APIs or inactive ingredients.

They currently produce various range of Antacid Molecules which are available in the market and are in great demand. Their product portfolio presently comprises 12 APIs and 6 Fine Chemical which are marketed domestically and exported.

Par Drugs Manufacturing Units:

They currently own and operate two manufacturing facilities at Bhavnagar and Ankleshwar in the Gujarat. They currently have three Manufacturing Blocks at the Bhavnagar Facility for different products. Their Bhavnagar facility certified by food & drugs control administration. During the year 2011, they have added two manufacturing Block out of three at the Chitra, Bhavnagar facility. One is dedicated facility for the Main API and another one is for Fine Chemicals. They supply the products to approximately 16 countries, including both direct and indirect exports. Their key customers include Pfizer Ltd., Cipla Ltd., Cadila Healthcare Ltd., Meyer Organics Pvt. Ltd., Dabur India Ltd.

Competitive Strengths of Par Drugs and Chemicals Limited:

  • Wide Product Range;
  • Global Presence;
  • Experienced Promoters;
  • Robust chemistry capabilities;
  • Diversified customer base;
  • Established sales and distribution network in Gujarat;
  • Established track record of delivering growth

Business strategies of Par Drugs and Chemicals Limited:

  • Expand the product portfolio
  • Exploring new geographical area
  • Leveraging the market skills and relationship
  • Augment their working capital base in order to better utilize their installed capacities.
  • Continuing innovation, technology upgrade and cost improvements

Par Drugs and Chemicals 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:

Amount (in INR & lakhs)
30-Sep-18 31-Mar-18 31-Mar-17 31-Mar-16
Total Assets 5,565.09 5,393.89 5,604.14 5,803.08
Total Revenue 2,487.03 4,241.65 4,880.90 3,330.37
Total Expense 2,283.19 3,986.35 4,562.57 3,229.69
Profit After Tax 136.77 149.53 184.78 42.18

Earnings per Equity Share (in lakhs)

30-Sep-18 31-Mar-18 31-Mar-17 31-Mar-16
Basic & Diluted 5.07 5.54 6.84 1.56

From the above statements, one could find that the Par Drugs and Chemicals Limited may perform well.


Par Drugs IPO – Promoters

The Promoters of this company are:

  • Falgun Vallabhbhai Savani
  • Jignesh Vallabhbhai Savani

List of Related Parties (Key Managerial Personnel)

  • Chintan Pratapbhai Chauhan- Chief Financial Officer
  • Sanket Bhupendrabhai Trivedi- Company Secretary and Compliance Officer

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.


Par Drugs IPO Offer Details or Par Drugs IPO Issue Details

Particulars  No. Of Equity Shares
 Equity Shares Offered  Issue of Upto 17,00,000* Equity Shares of face value of Rs. 10/- each
fully paid of the Company for cash at price of Rs. [●]/- per Equity Share
aggregating Rs. [●] lakhs
 Of which:
 Reserved for Market Makers  Upto [●]* Equity Shares of face value of Rs. 10/- each fully paid of the
Company for cash at price of Rs [●]/- per Equity Share aggregating Rs.
[●] lakhs
Employee Reservation Portion Upto [●]* Equity Shares of face value of Rs. 10/- each fully paid of the
Company for cash at price of Rs [●]/- per Equity Share aggregating Rs.
[●] lakhs
Net Issue to the Public Upto [●]* Equity Shares of face value of Rs. 10/- each fully paid of the
Company for cash at price of Rs. [●]/- per Equity Share aggregating Rs.
[●] lakhs
 Of which:
 Retail Investors Portion  Upto [●]* Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. [●]/- per Equity Share aggregating Rs. [●] lakhs will be available for allocation for allotment to Investors of
up to Rs. 2.00 lakhs
 Non-Retail Investors Portion Upto [●]* Equity Shares of face value of Rs. 10 /- each fully paid of the Company for cash at price of Rs. [●]/- per Equity Share aggregating Rs. [●] lakhs will be available for allocation to investors above Rs. 2.00
lakhs
 Equity Shares outstanding prior to the Issue 44,80,318 Equity Shares
 Equity Shares outstanding after the Issue Upto 61,80,318* Equity Shares of face value of Rs. 10 each

Par Drugs and Chemicals 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

Par Drugs and Chemicals 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:

  • Wide Product Range;
  • Global Presence;
  • Experienced Promoters;
  • Robust chemistry capabilities;
  • Diversified customer base;
  • Established sales and distribution network in Gujarat;
  • Established track record of delivering growth

The relevant quantitative factors are:

Basic & Diluted EPS RONW in % NAV (Rs.)
31-Mar-16 1.56 3.63
31-Mar-17 6.84 13.73
31-Mar-18 5.54 10.00
55.36
  • Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs. 10 each
Particulars P/E ratio
Highest 21.71
Average 14.88
Lowest 1.77
  • Competitive Peers:
Sr. No.  Particulars Face Value  (in Rs.) Basic EPS (In Rs.) Diluted EPS (In Rs.) P/E Ratio RONW (%)  NAV (In Rs.)
1 Par Drugs &
Chemicals Limited
10 5.54 5.54 [●] 10.00 55.36
2 Aarti Drugs
Limited
10 30.67 30.67 21.71 16.95 183.69
3 Shilpa Medicare
Limited
1 16.68 16.68 21.15 11.52 141.91
4 Vasundhara
Rasayans Limited
10 20.51 20.51 1.77 47.46 43.22

Par Drugs and Chemicals IPO Lead Managers

Lead Managers
PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED
406-408, Keshava Premises, Behind Family Court, Bandra Kurla
Complex, Bandra East, Mumbai – 400 051, Maharashtra, India
Tel: +91-22 6194 6700; Fax: +91-22 2659 8690
Website: www.pantomathgroup.com
Email:
Investor Grievance Id:
Contact Person: Hardik Bhuta / Unmesh Zagade
SEBI Registration No: INM000012110

Par Drugs and Chemicals IPO Registrar to offer

Registrar to the Offer
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West),
Mumbai – 400 083, Maharashtra, India
Tel: +91 22 4918 6200; Fax: +91 22 4918 6195
Website: www.linkintime.co.in
Email:
Investor Grievance Id:
Contact Person: Shanti Gopalkrishnan
SEBI Registration Number: INR000004058

Par Drugs IPO – Other Details:

  • Statutory Auditor – M/s. V Dhamsania & Associates
  • Peer Review Auditor – M/s. V Dhamsania & Associates
  • Bankers to the Company – Kotak Mahindara Bank

Par Drugs and Chemicals IPO Review by Top 10 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

Par Drugs and Chemicals IPO Grey Market Premium

The Par Drugs and Chemicals IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


Subscribe to Par Drugs and Chemicals IPO

Fill the Details Below
  1. Subscribe to IPOOpen Demat AccountBecome Sub Broker

Par Drugs and Chemicals IPO News

News 1 – IPO ISSUE OPENS SOON [Download Prospectus]


Market Guide

What is IPO?
IPO Investment
Upcoming IPOs
 IPO Valuation

Featured Topics

Featured Topics
Best Discount Broker in India
Top 10 Sub Broker Partner in India
Best Stock Broker in India
Sub Broker Franchise
Best Demat Account
Brokerage Calculator
Best Full Service Broker in India
Broking Franchisee
 Best Intraday Trading Brokers in India

Leave a Reply

Your email address will not be published. Required fields are marked *

Get 90% Discount on Brokerage Now! Open Demat Account