Sunrest Lifescience IPO: Sunrest Lifescience Limited IPO Details

Sunrest Lifescience Limited is set to launch its Initial Public Offering (IPO) on November 7, 2023. This fixed-price issue aims to raise Rs 10.85 crores by offering 1,291,200 fresh shares at Rs 84 per share. In this comprehensive blog, we will delve into the details of the Sunrest Lifescience IPO, its business, financials, objectives, and more.

Also See: Sunrest Lifescience IPO GMP

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Sunrest Lifescience IPO Details:

ParameterDetails
IPO NameSunrest Lifescience Limited
IPO DateNovember 7, 2023, to November 9, 2023
Basis of AllotmentNovember 15, 2023
Listing DateNovember 20, 2023
Face Value₹10 per share
Price per Share₹84 per share
Lot Size1,600 Shares
Total Issue Size1,291,200 shares (aggregating up to ₹10.85 Cr)
Fresh Issue1,291,200 shares (aggregating up to ₹10.85 Cr)
Issue TypeFixed Price Issue IPO
Listing AtNSE SME
Shareholding Pre Issue3,000,000 shares
Shareholding Post Issue4,291,200 shares
Market Maker Portion65,600 shares

Sunrest Lifescience IPO Reservation:

  • Retail Shares Offered: 50% of the Net issue
  • Other Shares Offered: 50% of the Net issue

Sunrest Lifescience IPO Lot Size:

Investors can bid for a minimum of 1,600 shares and in multiples thereof.

ApplicationLotsSharesAmount
Retail (Min)11,600₹134,400
Retail (Max)11,600₹134,400
HNI (Min)23,200₹268,800

Promoter Holding:

The promoters of Sunrest Lifescience Limited are Mr. Nikhilkumar Y Thakkar, Mr. Amitbhai Shambhulal Thakkar, Mr. Bhagyesh Kiritbhai Parekh, and Mr. Bharatkumar V Thakkar.

  • Shareholding Pre Issue: 100%
  • Shareholding Post Issue: 69.91%

About Sunrest Lifescience Limited:

Sunrest Lifescience Limited, incorporated in 2017, is a company that offers a wide range of healthcare and personal care products. Its product portfolio includes capsules, tablets, syrup, ointment, gel, mouthwash, solution, suspension, dry powders, and toothpaste. These products cover a broad spectrum of drugs, such as anti-bacterial, anti-diarrheal, anti-fungal, anti-malarial, anti-diabetic, dental care, anti-protozoal, anti-histamine, anti-hypertensive drugs, cosmetics, anti-parasitic, multivitamins, multimineral, nutraceuticals, and anti-inflammatory drugs.

The company partners with third-party pharma product manufacturers, including Trilend Pharmaceuticals Private Limited, to manufacture its products. Sunrest Lifescience has a network of 43 third-party manufacturers across various states in India.

Sunrest Lifescience’s products are distributed to stockists and super stockists, making them available at chemist shops, dispensaries, hospitals, and more. The company boasts 18 registered trademarks for 32 products and is committed to delivering high-quality products to its customers.

Sunrest Lifescience IPO

Financial Information:

Sunrest Lifescience Limited’s financial performance showed a decrease in revenue by -8.32% and a substantial increase in profit after tax (PAT) by 162.91% between the financial years ending on March 31, 2023, and March 31, 2022.

Period Ended30 Jun 202331 Mar 202331 Mar 202231 Mar 2021
Assets1,706.281,671.371,301.97948.15
Revenue563.582,467.052,690.991,694.91
Profit After Tax75.08204.3177.7116.55
Net Worth386.60311.52107.2029.49
Reserves and Surplus86.6011.52106.2028.49
Total Borrowing347.32214.32323.83231.55
Amount in ₹ Lakhs
Line Graphs

Sunrest Lifescience IPO Objectives:

The proceeds from the Fresh Issue will be utilized for the following objectives:

  1. Meeting Working Capital Requirements
  2. General Corporate Purposes
  3. Meeting Public Issue Expenses

Sunrest Lifescience IPO Registrar:

Skyline Financial Services Private Ltd

Sunrest Lifescience IPO Lead Manager(s):

Mark Corporate Advisors Private Limited

Sunrest Lifescience IPO Timeline :

EventDate
IPO Open DateTuesday, November 7, 2023
IPO Close DateThursday, November 9, 2023
Basis of AllotmentWednesday, November 15, 2023
Initiation of RefundsThursday, November 16, 2023
Credit of Shares to DematFriday, November 17, 2023
Listing DateMonday, November 20, 2023
Cut-off time for UPI mandate confirmation5 PM on November 9, 2023
(Tentative Schedule)

Conclusion:
The Sunrest Lifescience Limited IPO offers investors an opportunity to participate in a growing company in the healthcare and personal care product space. With a diversified product range and a commitment to quality, Sunrest Lifescience has made significant strides in the industry. Investors should carefully consider the details provided and consult with financial experts before making any investment decisions.

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