Sudarshan Pharma IPO description – The company was established in 2008 as Sudarshan Specialty Chemsolve Private Limited and its name was changed to the current one in 2016. It markets pharmaceutical formulation & products in the Domestic and International markets through its own distribution network and sales force under its own brand. The company has a contract manufacturing agreement with four pharmaceutical companies. The company also supplies generic pharmaceutical formulation as – Make to order – for bulk supply to the hospital, Health Centre of Corporate, Municipality and exports.
Sudarshan Pharma supplies Active Pharmaceutical Ingredients (APIs), Intermediates Finished Dosage Formulations (FDFs) and Specialty Chemicals (SCs) in the domestic markets with a presence in 5 States. To develop its export business, the company is in the process of applying for 16 formulation registrations in countries like Ghana, Georgia, Cambodia, Myanmar, Nigeria, Kenya, Malaysia & MINA region.
The management is planning for business expansion by having its own state of the art manufacturing facility at Wada, near Mumbai, Maharashtra.
Sudarshan Pharma promoters – Mr Hemal V. Mehta & Mr Sachin V. Mehta
| Sudarshan Pharma – Upcoming IPO details | |
| Subscription Dates | 12 – 24 June 2019 (IPO canceled due to poor response) |
| IPO Price band | INR75 per share |
| Fresh issue | 3,440,000 shares (INR25.80 crore) |
| Offer for sale | Nil |
| Total IPO size | 3,440,000 shares (INR25.80 crore) |
| Minimum bid (lot size) | 1,600 shares |
| Face Value | INR10 per share |
| Retail Allocation | 50% |
| Listing On | NSE Emerge SME platform |
Use of funds
- To set up a dedicated manufacturing facility for Pharmaceutical Business – INR12.50 crore
- Distribution and Warehousing Centre‘s & Purchase of Corporate Office – INR4.50 crore
- Additional Working Capital – INR5.25 crore
- General Corporate Expenses – INR2.80 crore
- Issue Expenses – INR0.75 crore
| Sudarshan Pharma’s consolidated financial performance (in INR crore) | ||||||
| FY2016 | FY2017 | FY2018 | 6M FY2019 | |||
| Total revenue | 37.9 | 55.5 | 89.8 | 60.7 | ||
| Total expenses | 37.8 | 55.3 | 88.8 | 58.7 | ||
| Profit after tax | 0.09 | 0.16 | 0.74 | 1.46 | ||
Sudarshan Pharma Industries Contact Details
Sudarshan Pharma Industries LimitedÂ301, 3rd Floor, Aura Biplex
Above Kalyan Jewellers, S V Road
Borivali (West), Mumbai – 400 092 Phone: +91 22 242221111
Email: [email protected]
Website:Â www.sudarshanpharma.com
Sudarshan Pharma IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 0.07 |
| Day 2 | 0.14 |
| Day 3 | 0.21 |
| Day 4 | 0.43 |
| Day 5 | 0.44 |
| Day 6 | 0.44 |
| Day 7 | 0.44 |
| Day 8 | 0.45 |
| Day 9 |
Sudarshan Pharma Valuation (For FY2018)
Earnings Per Share (EPS): INR2.90
Price/Earnings (P/E) ratio: 25.86
Return on Net Worth (RONW): 8.66%
Net Asset Value (NAV): INR18.10 per share
Registrar of Sudarshan Pharma IPO
Karvy Fintech Private LimitedKarvy Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana Phone: +91 40 6716 2222Â
Fax:Â +91 40 2343 1551Â
Email: [email protected]
Website:Â www.karvyfintech.com
Sudarshan Pharma IPO Allotment Status
Sudarshan Pharma IPO allotment status will be available on Karvy website. Click on this link to get allotment status.
Listing performance of Sudarshan Pharma
IPO Opening Date: 12 June 2019 (IPO canceled due to poor demand)
IPO Closing Date: 24 June 2019 (IPO canceled due to poor demand)
Listing Date: To be updated
Listing Price on NSE SME: To be updated
Closing Price on NSE SME: To be updated
Strong financials backed by sound promoters. Worth taking a look.