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Sotac Pharmaceuticals IPO GMP, Price, Dates & Allotment Details 2023

Sotac Pharmaceuticals IPO GMP, Price, Dates & Allotment Details 2023

The Sotac Pharmaceuticals IPO will open on March 29 and close on April 3, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 33.30 crore through this public offering, consisting of 3,000,000 shares of face value of ₹ 10 each. Which will be issued at a price of ₹ 105 to ₹ 111 per share.

The company originally formed as a partnership in 2015. And later incorporated as a private company in the same years, then converted into a public company in 2022.

SOTAC Pharmaceuticals Limited is part of the SOTAC Group, based in Gujarat. Company is in the business of manufacturing pharmaceutical products for different marketers on a loan licence or contract manufacturing basis. Its business is mostly conducted on a principle-to-principle basis with different marketers. The company offers loan licences and/or contract manufacturing to 162 corporate clients as of the date of this drafted Red Herring Prospectus. This company commenced manufacturing facilities in 2017; hence, the company has more than 5 years of experience in its current line of business. In 2017, the company’s manufacturing facility was installed with the capacity to manufacture 90 crore tablets per year and 14 crore capsules per year.

About SOTAC Group

SOTAC Group is a pharmaceutical manufacturer, specialising in the manufacturing of a wide range of pharmaceutical products such as non-Beta-Lactam (general) tablets, non-Beta-Lactam (general) capsules, non-Beta-Lactam syrup, and external preparations through issuer company SOTAC Pharmaceuticals Limited. Beta-lactam coated tablets, beta-lactam uncoated tablets, beta-lactam capsules, oral liquid, dry syrup, and external preparations such as nasal spray, relief spray, and cream are available through a 71% subsidiary company, SOTAC Healthcare Private Limited.

Objects of the Issue

The company proposes to utilise the net proceeds of the Fresh Issue towards funding the following objects:

  • To meet working capital requirements
  • Investment in Subsidiaries
  • Upgrades or Construction of Existing or New Buildings in the Existing Premises
  • General Corporate Purpose
  • To meet public issue expenses

Financial Highlights (Restated Consolidated)

ParticularsPeriod ended on 30th Sep. 2022FY 2021-22FY 2020-21FY 2019-20
Net Worth797662249306
Total Assets6,4623,5253,4703,038
Total Borrowings2,1861,1351,03615
Total Revenue3,9957,3374,8952,883
Profit After Tax47288(237)9
(Amount in ₹ Lakhs)

Sotac Pharmaceuticals IPO – Details

As per the DRHP filed with SEBI, a total of 30 lakh shares will be offered as part of the fresh issue on the SME SME segment. The face value of the shares is ₹ 10. The market maker would receive 150,000 shares of the offering. While Beeline Capital Advisors Pvt Ltd will be the lead manager for the IPO, KFin Technologies Limited will be the registrar. It will be a book-built issue, so there will be a price band rather than a price point, and the actual issue price will be discovered through the building of the book.

Issue TypeBook Built Issue IPO
IPO Price₹ 105 to ₹ 111 per share
Face Value₹ 10 per share
Market Lot1,200 Shares
Issue Size3,000,000 shares of ₹ 10 each (Aggregating up to ₹ 33.30 Crore)
Fresh Issue3,000,000 shares of ₹ 10 each  (Aggregating up to ₹ [.] Crore)
QIB Shares OfferredNot more than 50% of the Net Offer
NII (HNI) Shares OfferedNot less than 15% of the net issue
Retail Shares OfferedNot less than 35% of the net issue
Market MakerSunflower Broking Pvt. Limited
Market maker portion1,50,000 shares
Listing AtNSE SME
Company PromotersMr. Sharadkumar Dashrathbhai Patel, Mr. Dineshkumar Babulal Gelot,
Mr. Vishalkumar Devrajbhai Patel, Mr. Chetankumar Bachubhai Patel And
Mrs. Kiran Baldevbhai Jotania

GMP – Sotac Pharmaceuticals IPO

Sotac Pharmaceuticals’ 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 – Sotac Pharmaceuticals IPO

The issue opens for subscription on March 29, 2023, and closes for subscription on April 3, 2023 (both days inclusive). The basis of allotment will be finalised on April 10th, 2023, and the refunds will be initiated on April 11t, 2023. In addition, the demat credits are expected to happen on April 12, 2023, and the stock will list on April 13, 2023, on the NSE SME. 

Opening DateMarch 29, 2023
Closing DateApril 3, 2023
Basis of AllotmentApril 10, 2023
Initiation of RefundsApril 11, 2023
Credit of shares to Demat A/cApril 12, 2023
Listing DateApril 13, 2023

Lot Size – Sotac Pharmaceuticals IPO

The lot size of the Sotac Pharmaceuticals IPO is 1,200 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,200 shares of  ₹ 133,200.

ApplicationsLotsSharesAmount 
Retail (Minimum)11,200₹ 133,200
Retail (Maximum)11,200₹ 133,200
HNI (Minimum)22,400₹ 266,400

SWOT Analysis – Sotac Pharmaceuticals IPO

STRENGTHSWEAKNESSES
1. Good relations with established distributors.
2. Wide range of production capabilities.
3. Locational advantage.
1. Dependency on Distributors /  Marketers.
2. Lack of brand awareness.
3. Lack of firm arrangement of finance.
OPPORTUNITIESTHREATS
1. Expanding new geographical markets.
2. Opportunities of sale through owned brands.
3. Opportunity of owned product registration.
1. Fluctuation in raw material prices.
2. Competition from organised and unorganised players.
3. Change in government policies.

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationSotac Pharmaceuticals Limited
Plot No. PF-21, Nr. ACME Pharma, Opp. Teva Pharma Sanand GIDC-II,
Sanand Ahmedabad – 382110
Phone: +91 90819 93300
Email: [email protected]
Website: http://www.sotacpharma.com/
IPO RegistrarKFin Technologies Limited
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://karisma.kfintech.com/
IPO Lead Manager(s)Beeline Capital Advisors Pvt Ltd 

FAQ’s

The Sotac Pharmaceuticals Ltd. IPO price is ₹ 105 to ₹ 111 per share.

One lot of the Sotac Pharmaceuticals Ltd. IPO contains 2,000 shares of ₹ 133,200.

The minimum investment size is one lot for retail investors.

The finalisation of the basis of allotment for the Sotac Pharmaceuticals Ltd. IPO will be done on April 10, 2023, and the allotted shares will be credited to your demat account by April 12, 2023. Check the Sotac Pharmaceuticals Ltd. IPO allotment status.

The Sotac Pharmaceuticals Ltd. IPO shares listing date is April 13, 2023.

The investors’ portion for QIB - 50% of the Net offer, NII (HNI) – 15% of Net issue, and Retail – 35% of the Net issue.

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