Saroja Pharma Industries India Ltd IPO Timeline

Saroja Pharma Industries India Ltd IPO opens on 31-Aug-2023, and closes on 05-Sep-2023. The Saroja Pharma Industries India Ltd IPO bid date is from 31-Aug-2023 to 05-Sep-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Saroja Pharma Industries India Ltd IPO Opening Date 31-Aug-2023
Saroja Pharma Industries India Ltd IPO Closing Date 05-Sep-2023
Basis of Allotment 08-Sep-2023
Initiation of Refunds 11-Sep-2023
Credit of Shares to Demat 12-Sep-2023
Saroja Pharma Industries India Ltd IPO Listing Date 13-Sep-2023

Saroja Pharma Industries India Ltd IPO Lot Size

Saroja Pharma Industries India Ltd IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or 134400).

Application Lots Shares Amount
Minimum 1 1600 ₹134400
Maximum 1 1600 ₹134400

Saroja Pharma Industries India Ltd IPO Details

Saroja Pharma Industries India Ltd IPO Date 31-Aug-2023 to 05-Sep-2023
Saroja Pharma Industries India Ltd IPO Face Value Shares of ₹10 per share
Saroja Pharma Industries India Ltd IPO Price ₹84 per share
Saroja Pharma Industries India Ltd IPO Lot Size 1600
Issue Size Shares of ₹10 (aggregating up to ₹9.11 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹9.11 Cr)
Offer for Sale -
Issue Type Fixed Price - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Biju Gopinathan Nair, Manish Dasharath Kamble.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 To set up a Manufacturing Unit
  • 2 To repay the unsecured Loan

Company Financials

Saroja Pharma Industries India Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 26.56 40.86 0.88
03-2023 21.34 50.35 1.06
03-2022 15.51 55.96 1.14
Amount in ₹ Crore
  • A loyal extensive customer base.
  • Procurement of high quality pharmaceutical raw materials to be made available to our esteemed clients.
  • Extensive wide loyal purchase (Manufacturer) base.
  • Well trained professional staff to deliver the best in terms of resource procurements, documentation and time saving fast logistics.
  • Insurance of materials at all destinations (Loading, unloading, warehouse and in transit) ensuring safe and hasslefree dispatch of consignment globally.
  • The process of implementation at every point in accordance to government rules, regulations, requirements along with best global practices.
  • Fast and efficient decision-making approach of management with open approach to staff insights.
  • The property used by the Company for the operation purpose of its storage is not owned by it. Any termination of the relevant lease agreement or rent agreement in connection with such property or its failure to renew the same could adversely affect the Company operations.
  • The Company business is substantially dependent on its key customers from whom we derive a significant portion of its revenues. The loss of any significant clients may have a material and adverse effect on its business and results of operations.
  • The Company Domestic Sales is dependent on Top 5 States of India, the loss of any significant clients in this states may have a material and adverse effect on its business and results of operations.
  • The Company is dependent on few numbers of suppliers for purchase of product. Loss of any of this large Suppliers may affect its business and results of operations.
  • The Company will continue to be controlled by its Promoters and certain related entities after the completion of the Issue.
  • The company has to update the name of its company in some of the statutory approvals and certificates due to the conversion of the Company in to Public Limited Company.
  • The Company business requires it to obtain and renew certain registrations, licenses and permits from government and regulatory authorities and the failure to obtain and renew them in a timely manner may adversely affect the Company business operations.
  • There are no long term supply agreements with its vendors/suppliers. The company Business may be adversely affected if there is any disruption in the trading material supply or due to non- availability of trading material.
  • The company business is dependent on its continuing relationships with its clients, with whom the company has not entered into long term arrangements.
  • The COVID-19 pandemic has had, and is expected to have, a material adverse effect on the company business, financial condition, results of operations and cash flows.
  • In the event of any disruption in the supply or the non-availability of material in the required quantity and of required quality from alternate source, the supply schedule to its clients may be adversely be affected impacting the sales and profitability of the Company.
  • Some of the trading items are hazardous in nature. In the event of any accidents involving any such hazardous materials and substances, the Company may be held liable for subsequent damages and litigations.
  • The Company had negative cash flow in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.
  • The company insurance coverage may not adequately protect it against certain operating risks and this may have an adverse effect on the results of its business.
  • The company is dependent on third party transportation providers for delivery of trading goods and materials to it from its suppliers and delivery of trading goods and materials to its clients. Any failure on part of such service providers to meet their obligations could have a material adverse effect on the company business, financial condition and results of operation.
  • Failure to manage its stocks could have an adverse effect on the company net sales, profitability, cash flow and liquidity.
  • The company could be exposed to risks arising from misconduct, fraud and trading errors by its employees and Business Associates.
  • The company is subject Foreign Exchange Rate fluctuation and strict compliance of The Foreign Exchange Regulations Act, 1973 (FERA) and the provisions of FEMA.
  • The company operate in a highly competitive industry. Any inability to compete effectively may lead to a lower market share or reduced operating margins.
  • Conditions and restrictions imposed on us by the agreements governing its indebtedness could adversely affect the company ability to operate the company business.
  • Excessive dependence on any key managerial personnel for the project for which the issue is being made.
  • The company Promoters, Directors and Key Managerial Personnel may have interest in the Company, other than reimbursement of expenses incurred or remuneration.
  • The company ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
  • In addition to normal remuneration, other benefits and reimbursement of expenses to the company Promoters and Directors; they are interested to the extent of their shareholding and dividend entitlement thereon in the Company and for the transactions entered into between the Company and themselves.
  • The Company has in the past entered into related party transactions and may continue to do so in the future and its cannot assure you that the company could not have achieved more favourable terms if such transactions had not been entered into with related parties. And will not have an adverse effect on its financial conditions and result of operations.
  • Strikes, work stoppages or increased wage demands by the company employees or any other kind of disputes with its employees/workmen in future could adversely affect its business and results of operations.
  • Compliance with and changes in safety, health and environmental laws and various labours, workplace and related laws and regulations impose additional costs and may increase its compliance costs and a such adversely affect the company results of operations and its financial condition.
  • The company management has discretion in how it may use the proceeds of the Issue. Any variation in the utilisation of its Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
  • The company Object has not been appraised by any Bank or Financial Institution. Any significant deviation in the Object could adversely impact its operations and sustainability in absence of any independent monitoring agency.
  • There is no monitoring agency appointed by the Company and the deployment of funds are at the discretion of its Management and its Board of Directors, though it shall be monitored by its Audit Committee.
  • The average cost of acquisition of Equity shares by its Promoters is lower than the Issue price. the company promoters average cost of acquisition of Equity shares in its lower than the Issue Price of Equity shares.
  • The company require high working capital for its smooth day to day operations of business and any discontinuance or its inability to acquire adequate working capital timely and on favorable terms at a future date, may have an adverse effect on its operations, profitability and growth prospects.
  • The company success largely depends on its Board and Key Managerial Personnel and its ability to attract and retain them. Any loss of the director and key managerial personnel could adversely affect its business, operations and financial condition.
  • The company have not made any alternate arrangements for meeting its capital requirements for the Objects of the issue. Further its have not identified any alternate source of financing the "Objects of the Issue". Any shortfall in raising/ meeting the same could adversely affect its growth plans, operations and financial performance.
  • Certain information contained in this Draft Prospectus is based on management estimates and the company cannot assure you of the completeness or accuracy of the data.
  • Pharma Industry information included in this Draft Prospectus has been derived from industry reports commissioned by it for such purpose. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
  • Its relationship with its Suppliers, Customer and employees:
  • Professional corporate structure with Corporate Governance:
  • Marketing Strategies:
  • Followings are the initiatives and strategy for increase in the Market Share:

Saroja Pharma Industries India Ltd IPO Promoter Holding

Pre Issue Share Holding 100.00%
Post Issue Share Holding 73.02%

Saroja Pharma Industries India Ltd IPO Subscription Status (Bidding Detail)

The Saroja Pharma Industries India Ltd IPO is subscribed 8.4705 times on Sep 05, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 8.4705

Saroja Pharma Industries India Ltd IPO Prospectus

Saroja Pharma Industries India Ltd IPO Listing Date

Listing Date 13 Sep 23
BSE Script 91651
NSE Symbol SAROJA
Listing In NSE - SME
ISIN INE0PCL01011
IPO Price ₹84
Face Value ₹10

Saroja Pharma Industries India Ltd IPO Registrar

KFin Techologies Ltd

Phone: +91 40 6716 2222
Email: spiil.ipo@kfintech.com
Website: www.kfintech.com

Saroja Pharma Industries India Ltd IPO Lead Manager(s)

  1. Swastika Investmart Ltd

FAQs on Saroja Pharma Industries India Ltd IPO

Saroja Pharma Industries India Ltd IPO, which opens for subscription from 31-Aug-2023 to 05-Sep-2023 has an issue size of ₹9.11 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Saroja Pharma Industries India Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Saroja Pharma Industries India Ltd IPO Opens for subscription from 31-Aug-2023 to 05-Sep-2023.

The lot size of Saroja Pharma Industries India Ltd is 1600 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹134400 and ₹134400 respectively.

Allotment date for Saroja Pharma Industries India Ltd is 08-Sep-2023 and refund of application amount (in case allotment is not received) will begin from 11-Sep-2023. If your allotment goes through, then shares will be credited in your Demat account by 12-Sep-2023.

The registrar for Saroja Pharma Industries India Ltd IPO is KFin Techologies Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Saroja Pharma Industries India Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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