Sudarshan Pharma Industries IPO – Allotment, Subscription, GMP & DRHP

Let’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 IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

Sudarshan Pharma Industries Limited outsource their manufacturing facility, deal in Import and Exports, indenting and Supply in Specialty chemicals, API & its intermediate. As per the clients need and requirement, they provide order and get them manufactured from various suppliers in India and abroad regularly. Specialty chemicals and Intermediates having wide application in pharma, paint, food and adhesive Industry. 


Sudarshan Pharma Industries IPO Review & Ratings

IPO Ratings & Review
Criteria Ratings
Industry Sentiments 8.5/10
Industry Ranking 7.8/10
Company Background 7.9/10
Company Reputation 7.9/10
Competitive Edge 7.7/10
Financial Statements 7.8/10
Popularity Index 8.4/10
Promoters Reputation 7.7/10
Retail Appetite 7.9/10
Top Brokers Review 7.9/10
Overall Ratings 8.1/10
Star Ratings ★★★★☆

Summary of Sudarshan Pharma Industries IPO

Sudarshan Pharma Industries IPOSudarshan Pharma Industries Limited outsource their manufacturing facility, deal in Import and Exports, indenting and Supply in Specialty chemicals, API & its intermediate. As per the clients need and requirement, they provide order and get them manufactured from various suppliers in India and abroad regularly. Specialty chemicals and Intermediates having wide application in pharma, paint, food and adhesive Industry. Initial public offering of up to 34,40,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 75/- per Equity Share aggregating Rs. 25,80,00,000 /-

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

  • The revenues have increased from Rs. 3,794.33 Lakhs in F. Y. 2015-16 to Rs. 5,551.61 Lakhs in F. Y. 2016-17 and further to Rs. 8,976.43 lakhs in F. Y. 2017-18, showing an increase of 46.31% and 61.69%.
  • The net asset value per Equity Share was Rs. 12.46 and Rs. 18.10 as of Sept 30, 2018 and March 31, 2018, respectively, as per the Restated Financial Statements.
  • The net worth as on March 31, 2018, as per the Restated Summary Statement of Assets and Liabilities is Rs. 110.71 Lakhs.
  • Net Profit after tax for the above mentioned periods were Rs. 9.27 Lakhs, Rs. 15.63 Lakhs and Rs. 73.97 Lakhs. 

The Promoters of this company are Mr. Hemal V. Mehta and  Mr. Sachin V. Mehta. The lead manager to the issue is First Overseas Capital Limited and the Registrar to this issue is Karvy Computershare Private Limited.



Sudarshan Pharma Industries IPO Date

The opening and the closing date of Sudarshan Pharma Industries IPO is not known yet.


Sudarshan Pharma Industries IPO Subscription

Day / Date QIB NII RII Total Subscription
Day 1 
Day 2
Day 3
Day 4
Day 5
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.


Sudarshan Pharma Industries IPO Allotment Status

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


Sudarshan Pharma Industries IPO Price Band

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


Sudarshan Pharma Industries IPO Equity Share Offering

Initial public offering of up to 34,40,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 75/- per Equity Share aggregating Rs. 25,80,00,000 /-


Sudarshan Pharma Industries Limited – Company Overview

Sudarshan Pharma Industries Limited was originally incorporated under the Companies Act, 1956 vide certificate of incorporation dated July 23, 2008 issued by the Registrar of Companies, Mumbai.

Sudarshan Pharma Industries outsource their manufacturing facility, deal in Import and Exports, indenting and Supply in Specialty chemicals, API & its intermediate. As per the clients need and requirement, they provide order and get them manufactured from various suppliers in India and abroad regularly. Specialty chemicals and Intermediates having wide application in pharma, paint, food and adhesive Industry.

They are also involved in Contract Manufacturing, outsource & Supply of Generic Pharma formulation and medicines to healthcare institution, Government, NGO and Hospitals. Their Pharma & Specialty Chemical business operations are supported by various manufacturers having facilities which are approved by the FDA, WHO and other relevant authorities. They enter into contract manufacturing agreements for periods ranging from one to three years with the manufacturer of Pharma products.

They operate both in domestic and international markets. Presently, they are supplying Active Pharmaceutical Ingredients (APIs), Intermediates Finished Dosage Formulations (FDFs) and Specialty Chemicals (SCs) in the domestic markets. They have exported to countries like Uzbekistan, Bangladesh, Taiwan, Sultanate of Oman, (Muscat) Dubai, (UAE) & UK. Also, the company has a product pipeline ready for exports in countries like South East Asia, Middle East & North Africa (MENA Region).

Competitive Strengths of Sudarshan Pharma Industries Limited:

  • Experienced Promoters and Management Team
  • Scalable Business Model
  • Wide and diverse range of product offerings
  • Strategic Location of Manufacturing Units
  • Strong sales, marketing and distribution capabilities

Business strategies of Sudarshan Pharma Industries Limited:

  • 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 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:

On the basis of Standalone statement:-

Amount (in INR & lakhs)
30-Jun-18 31-Mar-18 31-Mar-17 31-Mar-16
Total Assets 5189.48 3096.37 1992.93 827.24
Total Revenue 6069.99 8976.43 5551.72 3794.33
Total Expense 5868.45 8877.56 5526.47 3780.31
Profit After Tax 145.76 73.98 15.63 9.27

Earnings per Equity Share (in lakhs)

31-Sept-18 31-Mar-18 31-Mar-17 31-Mar-16
Basic & Diluted 1.82 2.90 1.62 97.70

From the above statements, one could find that the Sudarshan Pharma Industries Limited may perform well.


Sudarshan Pharma Industries IPO – Promoters

The Promoters of this company are:

  • Mr. Hemal V. Mehta
  • Mr. Sachin V. Mehta

List of Related Parties (Key Managerial Personnel)

  • Mr. Hemal V. Mehta -Managing Director
  • Mr. Sachin V. Mehta – Joint Managing Director
  • Mr. Hemang J. Marfatia – CFO 
  • Mr. Anubhav Jain – CS & Compliance Officer
  • Mr. Indraraj Neogi – Head of Sales & Marketing of Pharma Division
  • Mr. Shrinivas Patil – Exports
  • Mr. Santosh Thakur – Import Sourcing & Indenting
  • Mr. Vinay Singh Rajput – Supply Chain Logistics Head

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.


Sudarshan Pharma Industries IPO Offer Details or Issue Details

Particulars  No. Of Equity Shares
 Equity Shares Offered  34,40,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 75/- per Equity Share aggregating Rs. 25,80,00,000 /-
 Of which:
 Reserved for Market Makers  1,76,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 75/- per Equity Share aggregating Rs. 1,32,00,000/-.
 Net Issue to the Public  32,64,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 75/- per Equity Share aggregating Rs. 24,48,00,000/-.
 Of which:
 Retail Investors Portion  16,32,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 75/- per Equity Share aggregating Rs. 12,24,00,000/-.
 Non-Retail Investors Portion 16,32,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 75/- per Equity Share aggregating Rs. 12,24,00,000/-
 Equity Shares outstanding prior to the Issue 95,46,998 Equity Shares
 Equity Shares outstanding after the Issue Upto 1,29,86,998 Equity Shares of face value of Rs. 10 each

Sudarshan Pharma Industries 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; and
  •  General Corporate Purposes

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Sudarshan Pharma Industries 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:

  • Experienced Promoters and Management Team
  • Scalable Business Model
  • Wide and diverse range of product offerings
  • Strategic Location of Manufacturing Units
  • Strong sales, marketing and distribution capabilities

The relevant quantitative factors are:

On the basis of standalone statement:-

Basic & Diluted EPS RONW in % NAV (Rs.)
31-Mar-16 92.70 56.13
31-Mar-17 1.62 4.87
31-Mar-18 2.90 8.66
18.10
  • Price to Earnings (P/E) ratio in relation to Issue Price of Rs. 75:
Particulars P/E ratio
Highest 210.30
Average 106.40
Lowest 2.50
  • Competitive Peers:
Sr. No.  Particulars Face Value  (in Rs.) Basic EPS (In Rs.) P/E Ratio RONW (%)  NAV (In Rs.)
1 Sudarshan Pharma Industries
Limited
10 1.82 41.21 14.58 12.46
2 Alembic Limited 2 1.50 24.10 11.40 13.20
3 Shilpa Medicare Limited 1 11.70 29.90 9.20 142.40
4 TTK Healthcare Limited  10 12.90 36.90 9.50 166.20
5 Biocon Limited 5 5.60 57.60 6.70 95.10
6 Torrent Pharmaceuticals Limited 5 37.80 38.10 14.30 279.8

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Sudarshan Pharma Industries IPO Lead Managers

Lead Managers
FIRST OVERSEAS CAPITAL LIMITED
1-2 Bhupen Chambers, Ground Floor, Dalal Street,Mumbai-400 001
Tel. No.: +91 22 40509999
Fax No.: N.A.
Email: / /
Investor Grievance Email:
Website: www.focl.in
Contact Person: Mr. Rushabh Shroff/ Mr. Satish Sheth/ Ms. Mala Soneji
SEBI Registration No.: INM000003671

Sudarshan Pharma Industries IPO Registrar to offer

Registrar to the Offer
Karvy Fintech Private Limited
Karvy Selenium Tower B, Plot 31-32, Gachibowli,
Financial District, Nanakramguda, Hyderabad 500 032 India
Tel. No.: 1-800-3454001/ +91 40 6716 2222
Fax No.: +91 40 2343 1551
E-mail:
Investor Grievance Email:
Website: www.karisma.karvy.com
Contact Person: Mr. M Murali Krishna
SEBI Registration No.: INR000000221

Other Details:

  • Statutory Auditor – M/s. NGST & Associates, Chartered Accountants
  • Peer Review Auditor – M/s. NGST & Associates, Chartered Accountants
  • Bankers to the Company – Union Bank, HDFC Bank

Sudarshan Pharma Industries 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

Sudarshan Pharma Industries IPO Grey Market Premium

The Sudarshan Pharma Industries 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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Sudarshan Pharma Industries IPO News

News 1 – IPO ISSUE OPENS SOON [Download Prospectus]


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