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Sudarshan Pharma Industries SME IPO: Check latest GMP and subscription status

Sudarshan Pharma Industries Private Limited’s SME IPO has an issue volume of 6,862,400 shares worth 10 50.10 cr. The subscription for this SME IPO was opened on March 09, 2023 and will run until March 14, 2023. The issue price for this initial public offering (IPO) is 71-73 per share with a par value of 10. NII is 15%, QIB is 50% and retail allocation is 35%. With a registration fee of 116,800, the minimum market lot for the Sudarshan Pharma IPO is 1600 shares to be considered for purchase. The IPO is to be traded on the BSE SME.

Sudarshan Pharma Industries Private Limited’s SME IPO has an issue volume of 6,862,400 shares worth 10 50.10 cr. The subscription for this SME IPO was opened on March 09, 2023 and will run until March 14, 2023. The issue price for this initial public offering (IPO) is 71-73 per share with a par value of 10. NII is 15%, QIB is 50% and retail allocation is 35%. With a registration fee of 116,800, the minimum market lot for the Sudarshan Pharma IPO is 1600 shares to be considered for purchase. The IPO is to be traded on the BSE SME.

On March 17, 2023, the allotment basis for the IPO of Sudarshan Pharma Industries will be completed. Although the public listing date of Sudarshan Pharma Industries has not yet been officially announced, March 22, 2023 is the expected listing date. Retail investors can apply for up to 1 lot or 1600 shares in the Sudarshan Pharma Industries IPO, with a maximum application amount of 116,800.

The Sudarshan Pharma Industries IPO received 0.40 times as many subscriptions on Day 1 or March 9, 0.47 times from retail category, 0.00 times from QIB and 0.37 times from NII. On day 2 i.e. March 10, Sudarshan Pharma Industries IPO drew 0.52 times. The public issue was subscribed 0.67 times in the retail category, 0.00 times in QIB and 0.38 times in the NII category. On Day 2, the total number of shares offered was 31,76,000. The total number of shares offered for the Retail category was 24,51,200 against the number of shares offered of 36,51,200, while the total number of shares offered for the NII category was 7,24,800 against the number of shares offered of 19,08,800 .

The Sudarshan Pharma Industries IPO received 0.40 times as many subscriptions on Day 1 or March 9, 0.47 times from retail category, 0.00 times from QIB and 0.37 times from NII. On day 2 i.e. March 10, Sudarshan Pharma Industries IPO drew 0.52 times. The public issue was subscribed 0.67 times in the retail category, 0.00 times in QIB and 0.38 times in the NII category. On Day 2, the total number of shares offered was 31,76,000. The total number of shares offered for the Retail category was 24,51,200 against the number of shares offered of 36,51,200, while the total number of shares offered for the NII category was 7,24,800 against the number of shares offered of 19,08,800 .

Sudarshan Pharma Industries’ recent IPO was last tracked today 4 pieces. The estimated list price for the Sudarshan Pharma Industries SME IPO is 77 (Upper Band Price + GMP) based on the latest GMP, therefore the expected premium over the IPO price is 5.48%.

Sudarshan Pharma Industries’ recent IPO was last tracked today 4 pieces. The estimated list price for the Sudarshan Pharma Industries SME IPO is 77 (Upper Band Price + GMP) based on the latest GMP, therefore the expected premium over the IPO price is 5.48%.

Commenting on the launch of the Sudarshan Pharma Industries SME IPO, Manish Khanna, Co-Founder of Unlisted Assets said, “Sudarshan Pharma Industries Limited is engaged in business of specialty chemicals and intermediates for pharmaceutical, agrochemicals, coatings, paints, adhesives and various other industries . The company is aiming for an IPO for the second time. It originally filed its IPO in 2019 and received a 47% subscription, and the company withdrew from the IPO on the last day.”

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Commenting on the launch of the Sudarshan Pharma Industries SME IPO, Manish Khanna, Co-Founder of Unlisted Assets said, “Sudarshan Pharma Industries Limited is engaged in business of specialty chemicals and intermediates for pharmaceutical, agrochemicals, coatings, paints, adhesives and various other industries . The company is aiming for an IPO for the second time. It originally filed its IPO in 2019 and received a 47% subscription, and the company withdrew from the IPO on the last day.”

“The company recorded a turnover of Rs. 1.48 billion with a net profit of Rs. 1.28 million in the 2020 financial year. In FY21, it recorded revenue of Rs. 193.73 crore and net profit of Rs. 2.67 crore. Turnover of Rs. 357.56 crore and net profit of Rs. 5.3 crore in FY22. For the first half of FY23, the company recorded revenue of Rs. 195.9 crore and net profit of Rs. 3.61 crore. There has been an increase in revenue and profit over the last 18 months, which the company says is due to its focus on a high-margin product mix,” added Manish Khanna.

“The company recorded a turnover of Rs. 1.48 billion with a net profit of Rs. 1.28 million in the 2020 financial year. In FY21, it recorded revenue of Rs. 193.73 crore and net profit of Rs. 2.67 crore. Turnover of Rs. 357.56 crore and net profit of Rs. 5.3 crore in FY22. For the first half of FY23, the company recorded revenue of Rs. 195.9 crore and net profit of Rs. 3.61 crore. There has been an increase in revenue and profit over the last 18 months, which the company says is due to its focus on a high-margin product mix,” added Manish Khanna.

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“The company’s borrowing has more than doubled from Rs. 20.81 Cr. as of 31 Mar 2020 to Rs.49.41 cr. as of 30 Sep 2022 which could be due to an increase in turnover from Rs.1.48 crore in FY20 to Rs.3.57 crore in FY22 . The subscription for the IPO began on March 9, 2023 and ends on March 14, 2023. As of March 10, 2023, the Company has a subscription of 0.67 times in the retail category and 0.38 times subscription in the non-institutional buyers category receive. received a total drawing of 0.525 times,” said Manish Khanna.

“The company’s borrowing has more than doubled from Rs. 20.81 Cr. as of 31 Mar 2020 to Rs.49.41 cr. as of 30 Sep 2022 which could be due to an increase in turnover from Rs.1.48 crore in FY20 to Rs.3.57 crore in FY22 . The subscription for the IPO began on March 9, 2023 and ends on March 14, 2023. As of March 10, 2023, the Company has a subscription of 0.67 times in the retail category and 0.38 times subscription in the non-institutional buyers category receive. received a total drawing of 0.525 times,” said Manish Khanna.

“The Company’s Gray Market Premium (GMP) stands at Rs.4 as of March 10, 2023, according to market sources. Considering the issue band price of 71-73 rupees, the IPO could trade at 77 rupees (upper band price + GMP). The IPO could result in price gains of up to 5% based on current market data,” claimed Manish Khanna.

“The Company’s Gray Market Premium (GMP) stands at Rs.4 as of March 10, 2023, according to market sources. Considering the issue band price of 71-73 rupees, the IPO could trade at 77 rupees (upper band price + GMP). The IPO could result in price gains of up to 5% based on current market data,” claimed Manish Khanna.

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