Business description – Sorich Foils is engaged in manufacturing and supplying a varied range of Aluminium Foils for Blister, Strip Foils, Cold Forming Foil, Coated Glassine Paper for Blister, Laminated Glassine Paper for Strip Pack, Child Resistant (CR) Foils, Aluminium Lid Foils, Triple Laminates, Flexible Packaging for Pharma & Food Industries, also FMCG packaging materials. This range is designed & developed utilizing advanced machinery and latest technology in complete adherence with the industry laid norms and standards. These products are widely applicable in different industries such as Pharmaceutical Industries, FMCG packaging, Food and dairy industries, Confectionery / Chocolate industries & Personal Care Packaging. There is in house quality check department to check the entire range on different parameters to maintain its authenticity throughout the manufacturing process. The manufacturing facility of the company is currently located at Plot No. 4802/1, Plastic Zone, Sarigam, Tal: Umbergaon, Valsad Gujrat-396155.
Promoters of Sorich Foils – Chandrahas Kotian
| Sorich Foils IPO details | |
| Subscription Dates | 24 – 28 May 2018 (IPO withdrawn due to poor demand) |
| IPO Price band | INR16 per share |
| Fresh issue | 2,500,000 shares (INR4 crore) |
| Offer for sale | Nil |
| Total IPO size | 2,500,000 shares (INR4 crore) |
| Minimum bid (lot size) | 8,000 shares |
| Face Value | INR10 per share |
| Retail Allocation | 50% |
| Listing On | NSE Emerge SME platform |
Use of funds
- Part Repayment / prepayment of unsecured loan – INR3 crore
- General corporate purposes – INR0.5 crore
- Issue expenses – INR0.5 crore
| Sorich Foils’ consolidated financial performance (in INR lakh) | ||||||
| Â FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | 10M FY2018 | |
| Total revenue | 1,963.3 | 2,285.9 | 2,506.7 | 2,689.9 | 2,659.1 | 2,313.4 |
| Total expenses | 1,928.2 | 2,255.8 | 2,471.3 | 2,659.6 | 2,609.2 | 2,242.9 |
| Profit after tax | 24.0 | 20.4 | 22.5 | 18.9 | 32.9 | 57.4 |
Sorich Foils’ Contact Details
Sorich Foils Limited
Plot No. 4802/1, Plastic Zone,
GIDC, Sarigam, Tal: Umbergaon,
Dist: Valsad, Gujrat-396
Phone: +91 260 2780670
Email: [email protected]
Website: www.sorichfoils.in
Sorich Foils IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 0.14 |
| Day 2 | 0.17 |
| Day 3 | |
Sorich Foils Valuation (Latest FY)
Earnings Per Share (EPS): INR3.29
Price/Earnings (P/E) ratio: 4.87
Return on Net Worth (RONW): 11.22%
Net Asset Value (NAV): INR29.28 per share
Registrar of Sorich Foils IPO
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Website:Â http://www.linkintime.co.in
Sorich Foils IPO Allotment Status
Sorich Foils IPO allotment status will be available on Link Intime’s website. Click on this link to get allotment status.
Listing performance of Sorich Foils
IPO Opening Date: 24 May 2018 (IPO withdrawn due to poor demand)
IPO Closing Date: 28 May 2018Â (IPO withdrawn due to poor demand)
Finalisation of Basis of Allotment: 31 May 2018
Initiation of refunds: 1 June 2018
Transfer of shares to demat accounts: 1 June 2018
Listing Date: 5 June 2018
Listing Price on NSE SME: To be updated
Closing Price on NSE SME: To be updated
Wrong company to invest. Just stay away from SME IPOs. No quality at all in these companies.