IPO Details
Bidding Dates
31 Aug '23 - 05 Sep '23
Minimum Investment
₹134,400 / 1 Lots (1600 Shares)
Price Range
₹84
Maximum Investment
₹134,400 / 1 Lots (1600 Shares)
Retail Discount
Not Applicable
Issue Size
₹9.11 Cr
Investor category and sub category
Non-Institutional Buyers | Retail Investors |Saroja Pharma Industries India IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Aug 31, 2023
IPO Closing Date
Sep 5, 2023
Basis of Allotment
Sep 8, 2023
Initiation of Refunds
Sep 11, 2023
Credit of Shares to Demat Account
Sep 12, 2023
IPO Listing Date
Sep 13, 2023
UPI Mandate Expiry Date
Sep 5, 2023
Saroja Pharma Industries India IPO Subscription Details
| Date | NII | Retail | Total |
|---|---|---|---|
Day 1Aug 31, 2023 |
1.58 | 0.79 | |
Day 2Sep 1, 2023 |
3.75 | 2.12 | |
Day 3Sep 4, 2023 |
7.62 | 4.39 | |
Day 4Sep 5, 2023 |
14.83 | 8.88 |
Saroja Pharma Industries India IPO Subscription Live Status
| Investor Category | Subscription (Times) |
|---|---|
| Non-Institutional Buyers | 14.83 |
| Others | 2.90 |
| Total | 8.88 |
About Saroja Pharma Industries India Ltd
Saroja Pharma Industries India Ltd is involved in the trading or manufacturing of pharma API, pharma intermediates, chemicals, and solvents used for pharmaceutical products in human and veterinary medicine. The company was founded in 2019 by Mr Biju Gopinathan Nair and Mr Manish Dasharath Kamble, with the vision of creating a global and reputable pharmaceutical and healthcare company.
The company’s clientele includes premium pharmaceutical companies from India and abroad. As per clientele requirements, Saroja Pharma produces customised pharmaceutical solutions, including chemicals like liquid bromine and ethyl acetate, and APIs like Oxyclozanide BP Vet and Triclabendazole.
Domestic sales made up over 90%, 78% and 85% of its revenue in FY23, FY22 and FY21. Its largest revenue share comes from specialty chemicals, making up over half of the revenue consistently.
There are currently three active production-linked incentive schemes of the government for pharma companies, including ones for pharmaceuticals and APIs. The global APIs market size is expected to reach USD 363.68 billion by 2032 from USD 204.04 billion in 2022, growing at a 6% CAGR in 2023 to 2032. For a company with ambitions of increasing exports, these factors increase their potential for expansion in global markets.
Saroja Pharma Industries India Ltd IPO Details
Retail investors can bid for the Saroja Pharma Industries India Ltd IPO that will be open between Thursday, August 31, 2023 and Tuesday, September 5, 2023. The IPO will list on the NSE Emerge platform on Wednesday, September 13, 2023.
Saroja Pharma Industries India Ltd IPO Price Band
Saroja Pharma Industries India Ltd is a fixed price issue IPO priced at ₹84 per share. The IPO comprises up to 10,84,800 Equity shares aggregating up to ₹9.11 crores.
Saroja Pharma Industries India Ltd IPO Lot Size
The Saroja Pharma Industries India Ltd IPO has a lot size of 1,600 shares.
Saroja Pharma Industries India Ltd IPO Objectives
The objectives of Saroja Pharma Industries India Ltd IPO are listed below:
Peer Details
The companies considered by Saroja Pharma Industries India Ltd as its peers include:
- NGL Fine Chem Ltd
- Sequent Scientific Ltd
How to Check the Allotment Status of the Saroja Pharma Industries India Ltd IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- As such Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Saroja Pharma Industries India Ltd
Registered office: 305, Kailash Tower, Shiv Shristi Complex, Goregaon Link Road, Mulund West, Mumbai (MH) – 400080.
Phone: +91 (022) 2081 0011
E-mail: info@sarojapharma.com
Saroja Pharma Industries India Company Financials
| Particulars | Period Ending on 31st Mar’23 (₹ lakh) | Total Period Ending on 31st Mar’22 (₹ lakh) | Total Period Ending on 31st Mar’21 (₹ lakh) |
|---|---|---|---|
| Total Revenue | 5,035.09 | 5,595.67 | 3,674.67 |
| Profit After Tax (PAT) | 106.06 | 114.01 | 73.13 |
| Current Ratio | 1.20 | 1.54 | 1.38 |
| Return on Capital Employed | 0.25 | 0.25 | 0.26 |
| Debt Service Coverage Ratio | 2.18 | 3.03 | 4.21 |
Know before investing
Strengths
3-
The company has been able to successfully diversify their product lines within a short span of 3 years.
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They have plans to scale up their business in Pharma API manufacturing, for which they are setting up a new plant. Increasing production and orders will help them increase profit margins.
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They have made profits consistently in the last 3 years and have an ROCE of 25%. The company saw negative cash flow in FY21 but has been able to ensure positive cash flow in the last 2 years.
Risks
3-
Their top 10 customers made up over 83%, 68% and 74% of their operating revenue in FY23, FY22 and FY21 respectively. This shows a degree of concentration in revenue sources which is risky.
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Their sources of revenue and raw materials are also concentrated geographically in about 5 states of India.
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The company does not have long-term supply agreements with any of its suppliers or clients. This increases the risk to seamless operations and revenues in the long run.
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Saroja Pharma Industries India IPO FAQs
Saroja Pharma Industries India Ltd is a 100% fresh issue IPO comprising 10,84,800 shares. It is a fixed price issue with a price of ₹84 per share. The issue opens on Thursday, August 31, 2023.
The allotment will happen on Friday, September 8, 2023.
The IPO subscription window will open on Thursday, August 31, 2023.
Retail investors can apply for a minimum of one lot, which consists of 1,600 shares.
Saroja Pharma Industries India Ltd IPO will list on the NSE SME exchange on Wednesday, September 13, 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you had applied for.
- Check the IPO allotment status. As such Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Wednesday, September 13, 2023, for Saroja Pharma Industries India Ltd.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
