Sunrest Lifescience
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 07 Nov 2023 – 09 Nov 2023
- Listing date
- 20 Nov 2023
- Face value
- ₹10 per share
- Issue price
- ₹84 per share
- Lot size
- 1,600 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹10.85 Cr
- Market cap at offer price
- ₹36.05 Cr
- Promoter holding
- 100.00% → 69.91% pre-issue → post-issue
- ISIN
- INE0PLZ01012
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Mark Corporate Advisors Pvt.Ltd.
- Registered office
- FF-41, Ajay Tenament-6, Near Canal Near Ritanagar, Bus Stand Vastral Road, Gujarat
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 65,600 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹84
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,34,400 |
| S-HNI (min) | 2 | 3,200 | ₹2,68,800 |
| S-HNI (max) | 7 | 11,200 | ₹9,40,800 |
| B-HNI (min) | 8 | 12,800 | ₹10,75,200 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 6.81 | — |
| P/E (×) | 12.33 | — |
| Market cap | — | ₹36.05 Cr |
Key performance indicators
- Return on net worth
- 65.59%
- ROCE
- 98.00%
- Debt / equity
- 0.64
- PAT margin
- 8.00%
- NAV per share
- ₹10.38
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Sunrest Lifescience
Sunrest Lifescience Limited was originally incorporated as 'Sunrest Lifescience Private Limited' on October 30, 2017, and converted into a public limited company on March 21, 2023. The Company is engaged in the marketing of OTC generic pharmaceutical products in the domestic market, operating in Maharashtra, Gujarat, Madhya Pradesh, Orissa and Rajasthan. It does not manufacture its own products; instead, it sources finished pharmaceutical formulations from third-party manufacturers including its Group Company Trilend Pharmaceuticals Private Limited (in which it holds 9.90% equity) and 32 other third-party manufacturers across Gujarat, Punjab, Maharashtra, Haryana, Himachal Pradesh, Uttarakhand and Madhya Pradesh. The Company deals in Capsules, Tablets, Syrup, Ointment, Gel, Mouth Wash, Solution, Suspension, Dry Powders and Toothpaste under 18 registered trademarks covering 32 products spanning categories like Anti-Bacterial, Anti Diarrheal, Anti-Fungal, Anti Malerial, Anti Diabetic, Dental Cure, Anti Protozol, Anti Histamine, Anti-Hypertensive drugs, Cosmetic, Anti Parasitic, Multivitamin, Multimineral, Nutraceutical and Anti-inflammatory. Products are sold to Stockists and Super Stockists who distribute them to Chemist shops, Dispensaries and Hospitals. For FY2023, the Company reported total income of ₹2,467.05 lakhs and profit after tax of ₹204.31 lakhs.
Company Analysis
from RHPSunrest Lifescience Limited is an Ahmedabad-based pharmaceutical marketing company engaged in the marketing of OTC generic pharmaceutical products across multiple therapeutic categories in the domestic Indian market.
Sunrest Lifescience Limited was originally incorporated as 'Sunrest Lifescience Private Limited' on October 30, 2017, and converted into a public limited company on March 21, 2023. The Company is engaged in the marketing of OTC generic pharmaceutical products in the domestic market, operating in Maharashtra, Gujarat, Madhya Pradesh, Orissa and Rajasthan. It does not manufacture its own products; instead, it sources finished pharmaceutical formulations from third-party manufacturers including its Group Company Trilend Pharmaceuticals Private Limited (in which it holds 9.90% equity) and 32 other third-party manufacturers across Gujarat, Punjab, Maharashtra, Haryana, Himachal Pradesh, Uttarakhand and Madhya Pradesh. The Company deals in Capsules, Tablets, Syrup, Ointment, Gel, Mouth Wash, Solution, Suspension, Dry Powders and Toothpaste under 18 registered trademarks covering 32 products spanning categories like Anti-Bacterial, Anti Diarrheal, Anti-Fungal, Anti Malerial, Anti Diabetic, Dental Cure, Anti Protozol, Anti Histamine, Anti-Hypertensive drugs, Cosmetic, Anti Parasitic, Multivitamin, Multimineral, Nutraceutical and Anti-inflammatory. Products are sold to Stockists and Super Stockists who distribute them to Chemist shops, Dispensaries and Hospitals. For FY2023, the Company reported total income of ₹2,467.05 lakhs and profit after tax of ₹204.31 lakhs.
Objects of the Issue
- Meeting Working Capital Requirements ₹855.00 Lakhs p.78
- General Corporate Purpose ₹140.00 Lakhs p.78
Issue Structure
- Total Issue
- ₹1,084.608 Lakhs
- Fresh Issue
- Upto 12,91,200 Equity Shares aggregating to ₹1084.608 Lakhs
- Offer for Sale
- Nil
- Price Band
- ₹84/- per Equity Share (Fixed Price)
- Lot Size
- 1,600 Equity Shares
- Face Value
- ₹10.00 each
Business Model
The Company earns revenue by marketing finished pharmaceutical formulations sourced from third-party manufacturers under its own registered trademarks. It places purchase orders with third-party manufacturers who produce the goods, which are then dispatched to the Company's godown and sold through Super Stockists and Stockists located in Maharashtra, Gujarat, Madhya Pradesh, Orissa and Rajasthan, who in turn make products available at Chemist Shops, Dispensaries and Hospitals. Revenue from operations was ₹2,464.20 lakhs for FY2023.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Nikhilkumar Y Thakkar | Promoter | 25.00 | 17.48 |
| Amitbhai Shambhulal Thakkar | Promoter | 24.97 | 17.45 |
| Bhagyesh Kiritbhai Parekh | Promoter | 22.50 | 15.73 |
| Bharatkumar V Thakkar | Promoter | 22.50 | 15.73 |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.