Incorporated in 2015, Sotac Pharmaceuticals Limited is a part of the SOTAC group, based in Gujarat. The company is in the business of manufacturing pharmaceutical products for different marketers on a loan license or contract manufacturing basis. The company’s business is majorly on principle to principle basis with different marketers.
SOTAC is serving over 162 corporate clients on a loan license and/or contract manufacturing basis. With their vast experience in the pharmaceutical segment, the company is growing and enlarging its scale of operations every year.
Sotac Pharmaceuticals established its manufacturing facility in the year 2017. In the year, the company’s manufacturing facility was installed with the capacity to manufacture 90 Crore tables/year, and 14 Crore Capsules/year.
With a combined experience of over 59 years in the pharmaceutical manufacturing Industry of the Promoters, the company is blooming and expanding in various horizons.
Sotac Pharmaceuticals IPO Details
| IPO Date | Mar 29, 2023 to Apr 3, 2023 |
| Listing Date | [Apr 13, 2023] |
| Face Value | ₹10 per share |
| Price | ₹105 to ₹111 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 3,000,000 shares (aggregating up to ₹33.30 Cr) |
| Fresh Issue | 3,000,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
Sotac Pharmaceuticals IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| Market Maker portion | 150,000 shares (SUNFLOWER BROKING PVT. LTD.) |
Sotac Pharmaceuticals IPO Tentative Timetable
Sotac Pharmaceuticals IPO opens on Mar 29, 2023, and closes on Apr 3, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Mar 29, 2023 |
| Closing Date | Apr 3, 2023 |
| Basis of Allotment | Apr 10, 2023 |
| Initiation of Refunds | Apr 11, 2023 |
| Credit of Shares to Demat | Apr 12, 2023 |
| Listing Date | Apr 13, 2023 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
Sotac Pharmaceuticals IPO Lot Size
The Sotac Pharmaceuticals IPO lot size is 1200 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹133,200 |
| Retail (Max) | 1 | 1200 | ₹133,200 |
| HNI (Min) | 2 | 2,400 | ₹266,400 |
| Lot Size Calculator |
Sotac Pharmaceuticals IPO Promoter Holding
Mr. Sharadkumar Dashrathbhai Patel, Mr. Dineshkumar Babulal Gelot, Mr. Vishalkumar Devrajbhai Patel, Mr. Chetankumar Bachubhai Patel, and Mrs. Kiran Baldevbhai Jotania are the promoters of the company.
| Pre Issue Share Holding | 84.63% |
| Post Issue Share Holding |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 3,038.21 | 2,882.64 | 8.75 | 305.73 | 75.73 | 15.13 |
| 31-Mar-21 | 3,469.75 | 4,894.97 | -236.54 | 249.36 | 19.36 | 1,035.80 |
| 31-Mar-22 | 3,525.35 | 7,337.02 | 287.86 | 662.19 | 432.19 | 1,134.59 |
| 30-Sep-22 | 6,461.60 | 3,994.65 | 46.55 | 797.41 | 567.41 | 2,185.52 |
| Amount in ₹ Lakhs |
Sotac Pharmaceuticals IPO Review (Avoid)
[Dilip Davda] This pharma/healthcare segment company has marked wild fluctuations in its bottom lines for the reported periods. Based on FY23 annualized earnings, the issue appears exorbitantly priced. It is operating in a highly competitive and fragmented segment. SPL’s debt level is also higher and raises concerns. There is no harm in skipping this pricey bet. Read detail review…
Objects of the Issue
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
- To Meet Working Capital Requirements
- Investment in Subsidiary
- Upgradation / Construction of Existing /New Building in the Existing Premises
- General Corporate Purpose
- To meet Public Issue Expenses
Sotac Pharmaceuticals IPO Prospectus
Company Contact Information
Sotac Pharmaceuticals Limited
Plot No. PF-21, Nr. ACME Pharma,
Opp. Teva Pharma Sanand GIDC-II,
Sanand Ahmedabad – 382110
Phone: +91 90819 93300
Email: compliance@sotacpharma.com
Website: http://www.sotacpharma.com/
Sotac Pharmaceuticals IPO Registrar
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: sotac.ipo@kfintech.com
Website: https://karisma.kfintech.com/