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Saroja Pharma Industries IPO GMP, Price, Dates & Allotment Details 2023

Saroja Pharma Industries IPO GMP, Price, Dates & Allotment Details 2023

Introduction

The Saroja Pharma Industries IPO will open on August 31 and close on September 5, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 9.11 crore through this public offering, consisting of 1,084,800 shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 84 per share.

Saroja Pharma Industries India Limited (“the Company”)

Saroja Pharma Industries India Limited was incorporated in 2019 with a vision to become a globally integrated and highly respected pharmaceutical and healthcare company.
The company is engaged in active pharmaceutical ingredients, specialty chemicals, and intermediates for pharmaceutical trading. They import and export specialty chemicals as well as supply them to end users. As per the client’s needs and requirements, the company regularly provides customized specialty chemicals in India and abroad. The company’s specialty chemicals and intermediates have wide applications in sectors such as pharma, agriculture, and chemicals for human and veterinary medicine.
With its new status as a public limited company, Saroja Pharma Industries India Limited aims to further strengthen its position in the pharmaceutical and healthcare sectors. The promoters envisioned leveraging the company’s expanded resources, increased capital, and enhanced market reach to pursue ambitious targets and achieve even greater heights.

Objects of the Issue,

The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:

  1. To Set-up a Manufacturing Unit.
  2. To Repay the Unsecured Loans.
  3. Public Issue Expenses.

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Net Worth508.66402.6093.59
Total Assets2133.991551.19822.39
Reserve & Surplus215.09380.0292.59
Total Borrowings1018.86613.88301.77
Total Revenue5035.095595.673674.67
Profit After Tax106.06114.0173.13
(Amount in ₹ Lakhs)

IPO details

As per the DRHP filed with SEBI, 10.84 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 54,400 shares of the offering. While Swastika Investmart Ltd will be the lead manager for the IPO, KFIN Technologies Limited will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.

Issue TypeFixed Price Issue IPO
IPO Price₹ 84 per share
Face Value₹ 10 per share
Market Lot1,600 shares
Issue Size1,084,800 shares (aggregating up to ₹ 9.11 crores)
Fresh Issue1,084,800 shares (aggregating up to ₹ 9.11 crores)
Listing AtNSE SME

Market Maker detail

Market makerSwastika Investmart
Market maker portion54,400 shares

IPO Reservation

CategoriesNo. of shares offered
Other shares offered50% of the net offer
Retail shares offered50% of the net offer

GMP: Saroja Pharma Industries IPO

GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates: Saroja Pharma Industries IPO

The issue opens for subscription on August 31, 2023, and closes for subscription on September 5, 2023 (both days inclusive). The basis of allotment will be finalised on September 8, 2023, and the refunds will be initiated on September 11, 2023. In addition, the demat credits are expected to happen on September 12, 2023, and the stock will be listed on the NSE SME on September 13, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateAugust 31, 2023
Closing DateSeptember 5, 2023
Basis of AllotmentSeptember 8, 2023
Initiation of RefundsSeptember 11, 2023
A credit of shares to Demat A/cSeptember 12, 2023
Listing DateSeptember 13, 2023

Lot Size

The lot size of the Saroja Pharma Industries IPO is 1,600 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,600 shares of ₹ 134,400.

ApplicationsLotsSharesAmount 
Retail (Minimum)11,600₹ 134,400
Retail (Maximum)11,600₹ 134,400
HNI (Minimum)23,200₹ 268,800

Promoters Holdings 

Mr. Biju Gopinathan Nair and Mr. Manish Dasharath Kamble are the promoters of the company.

Pre-issue Shares Holdings100%
Post-issue Shares Holdings73.02%

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationSaroja Pharma Industries India Limited
305, Kailash Tower, Shiv Shristi Complex, Goregaon Link Road,
Mulund West ,Mumbai (MH) – 400080
Phone: +91 (022) 2081 0011
Email: [email protected]
Website: https://www.sarojapharma.com
IPO RegistrarKFIN Technologies Limited
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://kosmic.kfintech.com/ipostatus/
IPO Lead Manager(s)Swastika Investmart Ltd

FAQs

The Saroja Pharma Industries India IPO price is ₹ 84 per share.

The minimum investment size is one lot for retail investors. One lot of the Saroja Pharma Industries India IPO contains 1,600 shares of ₹ 134,400.

The finalisation of the basis of allotment for the Saroja Pharma Industries India IPO will be done on September 8, 2023, and the allotted shares will be credited to your demat account by September 12, 2023. Check the Saroja Pharma Industries India IPO allotment status.

The Saroja Pharma Industries India IPO shares listing date is September 13, 2023.

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