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The scrip was listed at Rs 73, at par with the issue price. So far, the scrip hit a high of Rs 73.25 and a low of Rs 69.35. At the counter, 4.80 lakh shares of the company had changed hands till now. The initial public offer (IPO) of Sudarshan Pharma Industries was subscribed 1.06 times. The issue opened for bidding on 9 March 2023 and it closed on 14 March 2023. The price band of the issue is Rs 71-73 per share. The IPO comprised fresh issue of 68,62,400 equity shares. About 3,44,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 65,18,400 equity shares. The issue and the net issue will constitute 28.52% and 27.09%, respectively of the post issue paid-up equity share capital of the company. The promoter and promoter group shareholding will dilute to 57.39% post IPO from 80.28% pre-IPO. The company intends to utilize the net proceeds from the issue for working capital requirements and general corporate purposes. Sudarshan Pharma Industries is primarily engaged in production and distribution of specialty chemicals & intermediates for pharma, agro chemicals, coating, paints, adhesive and various other industries. As on 30 November 2022, the company had total of 43 employees. On a consolidated basis, the company recorded a revenue from operations of Rs 195.49 crore and net profit of Rs 3.60 crore for the period ended on 31 September 2022. Powered by Capital Market - Live News |