Sudarshan Pharma Industries IPO – Allotment, Subscription, GMP & DRHP
Last Updated Date: Mar 14, 2023Let’s have a detailed review of the company and analytics of the Sudarshan Pharma Industries IPO release date, IPO offer price, subscription, Sudarshan Pharma Industries 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 71 to Rs 73 |
| Listing At | BSE, SME |
| Min. Order Quantity | 1600 Shares |
| Listing Date | Mar 22, 2023 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs 5,010 Lakh |
| IPO Size | Rs 5,010 Lakh |
| Tick Size | 1 |
Sudarshan Pharma Industries IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Sudarshan Pharma Industries Share Price |
Sudarshan Pharma Industries IPO – Summary
Their Company was originally incorporated on July 23, 2008 as a Private Limited Company as “Sudarshan Specialty Chemsolve Private Limited” under the provisions of the Companies Act, 1956 with the Registrar of Companies, Mumbai.
Later in the year 2016, the name of the company was changed from “Sudarshan Specialty Chemsolve Private Limited” to “Sudarshan Pharma Industries Private Limited” under the Companies Act, 2013 pursuant to a special resolution passed by their shareholders at the EGM held on November 25, 2016 and vide certificate of incorporation dated December 17, 2016 issued by the Registrar of Companies, Mumbai
The Promoter of this company is Mr. Hemal Vasantrai Mehta and Mr. Sachin Vasantrai Mehta. The lead manager to the issue is GRETEX CORPORATE SERVICES LIMITED, and the Registrar to this issue is KFIN TECHNOLOGIES PRIVATE LIMITED.
Sudarshan Pharma Industries IPO Date
The opening and closing dates of Sudarshan Pharma Industries IPO are Mar 9, 2023, and Mar 14, 2023, respectively.
Sudarshan Pharma Industries IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 9th Mar | 0.00x | 0.37x | 0.47x | 0.40x |
| 2nd Day – 10th Mar | 0.00x | 0.38x | 0.67x | 0.52x |
| 3rd Day – 13th Mar | 0.00x | 0.58x | 0.88x | 0.71x |
| 4th Day – 14th Mar | 1.01x | 0.81x | 1.20x | 1.06x |
| Shares Offered or Net Issue | 1,302,400 | 2,608,000 | 2,608,000 | 6,518,400 |
The shares subscribed by the public will be updated here.
Sudarshan Pharma Industries 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.
Sudarshan Pharma Industries Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Mar 17, 2023 |
| Refunds Initiation | Mar 20, 2023 |
| Credit of Shares to Demat Account | Mar 21, 2023 |
| Share Listing Date | Mar 22, 2023 |
Sudarshan Pharma Industries IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 71 to Rs 73
Sudarshan Pharma Industries IPO Equity Size
This Initial Public Issue of 6,862,400 Equity Shares of Rs.10 each for cash at a price of Rs 71 to Rs 73 per equity share aggregating to Rs.5,010 Lakh.
Sudarshan Pharma Industries IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 6,862,400 Equity Shares of Rs.10/ each.
Issue Size: 6,862,400 Equity Shares of Rs.10 each, aggregating to Rs.5,010 Lakh
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Sudarshan Pharma Industries IPO – Live Performance
The listing date of this IPO is Mar 22, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Sudarshan Pharma Industries Share Price |
Sudarshan Pharma Industries IPO Grey Market Premium
The Sudarshan Pharma Industries Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Sudarshan Pharma Industries IPO – Company Overview
Subsequently, pursuant to a Special Resolution of their Shareholders passed in the Extra-Ordinary General Meeting held on December 12, 2016.
Their Company was converted from a Private Limited Company to Public Limited Company and consequently, the name of their Company was changed to ‘Sudarshan Pharma Industries Limited’ and a Fresh Certificate of Incorporation consequent to Conversion was issued on January 05, 2017 by the Registrar of Companies, Mumbai.
Also, their company is promoted by Mr. Hemal Vasantrai Mehta and Mr. Sachin Vasantrai Mehta. Their promoters have a combined experience of over 25 years in the Special Chemical, Bulk drug, and Pharmaceutical Industry.
Driven by passion for building an integrated chemical and pharmaceutical company, backed by their more than two decades of individual experience, their Promoters have been the pillars of their Company`s growth since inception and have built a strong value system for their Company.
With their enriching experience and progressive thinking, they aim to continue to grow in the chemical and pharmaceutical industry in India and abroad.
Sudarshan Pharma Industries 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 & Lakh) | ||||
| 30-Sep-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Total Assets | 16,402.22 | 13,752.18 | 9,926.02 | 5,837.78 |
| *Total Revenue | 19,589.87 | 35,755.89 | 19,372.80 | 14,800.04 |
| Total Expense | 19,108.60 | 35,036.83 | 19,015.34 | 14,628.46 |
| Profit After Tax | 360.70 | 530.36 | 267.12 | 127.51 |
Earnings per Equity Share (in Lakh)
| 30-Sep-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 7.37 | 5.52 | 2.80 | 1.34 |
Further, their PAT for the period ended on Sep 30, 2022, March 31, 2022, March 31, 2021, and March 31, 2020, were Rs. 360.70 Lakh, Rs. 530.36 Lakh, Rs. 267.12 Lakh and Rs. 127.51 Lakh respectively.
Sudarshan Pharma Industries IPO – Promoters
The Promoter of this company is:
- Mr. Hemal Vasantrai Mehta
- Mr. Sachin Vasantrai Mehta
List of Related Parties (Key Managerial Personnel)
- Hemal Vasantrai Mehta, Managing Director and Chairman
- Sachin Vasantrai Mehta, Joint Managing Director
- Umesh Luthra, Independent Director
- Rajesh Chandrakumar Hedaoo, Independent Director
- Jaya Ankur Singhania, Independent Director
Sudarshan Pharma Industries IPO – Promoters Holding
- Pre-Issue Share Holding – %
- Post Issue Share Holding – %
Sudarshan Pharma Industries IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 68,62,400 Equity Shares aggregating up to Rs.5,010 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 3,44,000 Equity Shares aggregating up to Rs.[●] Lakh |
| Net Issue to the Public | Up to 65,18,400 Equity Shares aggregating up to Rs.[●] Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 26,08,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 26,08,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 1,72,03,487 Equity Shares |
| Equity Shares outstanding after the Issue | 2,40,65,887 Equity Shares |
Sudarshan Pharma Industries IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. To meet Working Capital requirements
2. General Corporate Purpose
Sudarshan Pharma Industries IPO – Business Strategy
- Venturing into API manufacturing
- Focus on increasing their global sales
- Increasing Operational efficiency
- Broaden and Deepen presence in the existing product portfolio
- Increase by targeting unexplored markets
- Expand their scope by adding more products
Sudarshan Pharma Industries 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:
- Venturing into API manufacturing
- Focus on increasing their global sales
- Increasing Operational efficiency
- Broaden and Deepen Presence in the existing product portfolio.
- Increase by targeting unexplored markets
- Expand their scope by adding more products
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 5.52 | 17.81 | 30.97 |
| 31-Mar-21 | 2.80 | 11.87 | 23.58 |
| Mar-20 | 1.34 | 6.43 | 20.78 |
Sudarshan Pharma Industries IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Revenue from Operations (Rs. in Lakhs) |
|
| Sudarshan Pharma Industries Limited | 10 | [●] | 5.38 | 17.63% | 35,547.44 |
| Listed Peers | |||||
| ERIS Lifesciences Limited | 10 | 89.11 | 7.03 | 21.75% | 28,214.00 |
| Sigachi Industries Limited | 10 | 64.79 | 4.02 | 16.73% | 7,087.00 |
| Aarti Drugs Limited | 10 | 63.68 | 5.72 | 19.78% | 55,120.00 |
Sudarshan Pharma Industries IPO Lead Managers
| Lead Managers |
| GRETEX CORPORATE SERVICES LIMITED Office No. 13, 1st Floor, New Bansilal Building, Raja Bahadur Mansion, 9-15, Homi Modi Street, Fort, Mumbai– 400001, Maharashtra, India. Tel No.: +91 22 4002 5273 / 96532 49863 Email: info@gretexgroup.com Website: www.gretexcorporate.com Contact Person: Ms. Dimple Magharam Slun SEBI Registration No: INM000012177 CIN: L74999MH2008PLC288128 |
Sudarshan Pharma Industries IPO Registrar to offer
| Registrar to the Offer |
| KFIN TECHNOLOGIES PRIVATE LIMITED Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad 500032, Telangana, India. Tel. No.: +91 40 6716 2222 Fax No.: +91 40 2343 1551 Email ID: einward.ris@kfintech.com Investor Grievance Email: spil.ipo@kfintech.com Contact Person: Mr. M Murali Krishna Website: www.kfintech.com SEBI Registration No.: INR00000022 |
Sudarshan Pharma IPO – Other Details
- Statutory Auditor – M/s NGST & Associates, Chartered Accountant
- Legal Counsel to the Company – M/S. M. V. KINI LAW FIRM
- Bankers to the Company – UNION BANK OF INDIA
Sudarshan Pharma 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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Sudarshan Pharma Industries Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Sudarshan Pharma Industries IPO Review FAQs
Check out various FAQs related to Sudarshan Pharma IPO:
What is the Issue Size of Sudarshan Pharma Industries IPO?
The Company is making an initial public offer of 6,862,400 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 net issue.
What is the Price band of Sudarshan Pharma IPO?
The price band for this particular IPO ranges between Rs 71 to Rs 73. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Sudarshan Pharma Industries IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Mar 9, 2023, while the closing date is set at Mar 14, 2023.
What is the Sudarshan Pharma Industries IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on Mar 17, 2023, refund initiation is on Mar 20, 2023, credit of shares is on Mar 21, 2023, and share listing date is on Mar 22, 2023.
What is the Sudarshan Pharma Industries IPO Listing Date?
Shares of this company shall be listed in the exchanges Mar 22, 2023. The date, when the listing would be done, is stagnant on Mar 22, 2023.
Who is the Registrar of Sudarshan Pharma IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Sudarshan Pharma IPO?
Here are the promoters of this IPO – Mr. Hemal Vasantrai Mehta and Mr. Sachin Vasantrai Mehta. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Sudarshan Pharma Industries IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Sudarshan Pharma IPO good for Investment?
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.
What is the PAT of Sudarshan Pharma Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Lakh is 530.36, 2021 is 267.12, and 2020 is 127.51. PAT from Sep 2022 is 360.70.
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