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Sotac Pharmaceuticals IPO

Sotac Pharmaceuticals IPO

  • Status: Closed
  • RHP:
  • ₹ 126,000 / 1200 shares

    Minimum Investment

IPO Details

  • Open Date

    29 Mar 2023

  • Close Date

    03 Apr 2023

  • IPO Price Range

    ₹ 105

  • IPO Size

    ₹ 33.30 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    13 Apr 2023

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IPO Timeline

Sotac Pharmaceuticals IPO Subscription Status

Last Updated: 03 January 2024 8:57 PM by 5Paisa

Sotac Pharmaceuticals IPO opens on 29th March, and closes on 3rd April. The issue entails a fresh issue of 30,00,000 equity shares aggregating the issue size upto Rs. 33.30 crores. The company has set the lot size to 1200 shares and the price band is set at Rs. 105 – Rs 111 per share. The issue will be listed on NSE SME on 13th April and the shares will be allotted on 10th April. Beeline Capital Advisors is the lead manager to the issue. 

Objective of the Sotac Pharmaceuticals IPO

•    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 is in business of manufacturing of pharmaceutical products for different marketers on loan license or contract manufacturing basis and is majorly on principle to principle basis with different marketers. The manufacturing facility at SOTAC Pharmaceuticals Limited is installed with capacity to manufacture 360 Crore tables / year, 32.40 Crore Capsules / year, 2160 Kilo Litter syrup / year and 324 Tons external preparation / year. 

SOTAC Group is pharma manufacturer, specializing in manufacturing of a wide range of pharmaceutical products such as Non-Beta-Lactam (general) tablets, Non-Beta-Lactam (general) capsules, non-Beta-lactam Syrup and external preparations through issuer company SOTAC Pharmaceuticals Limited. Beta-lactam coated tablets, beta-lactam uncoated tablets, betalactam capsules, oral liquid, dry syrup and external preparations such as nasal spray, relief spray and cream through 71% subsidiary company through SOTAC Healthcare Private Limited. 

The therapeutic portfolio includes Anti-Diabetic, Anti-Psychotic, Vitamins, Minerals, Iron, Anti-Cold, AntiAllergic, Derma Products, Antacid, Anti-Ulcerants, PPI, Anti-Emetics, Cardiac, Anti-Hypertensives, Analgesic, AntiPyretic, Anti-Inflammatory, Anti-Bacterial, Anti-Viral, General Antibiotics IP-Lactams & Non-IP-Lactams, Anti-Fungal, Cephalosporin.

The past and present clientele includes renowned pharma marketers and manufactures namely Cadila Pharma, J. B. Chemical, Lincoln Pharma, Intas Pharma, Viatris (Mylan), Makers (Ipca), Corona Remedies, Eris Lifesciences, Stride Pharma, Stalion Pharma, Acme Pharma, Olecare Pharma, Treatwell Pharma, Ronak Healthcare, Curever Pharma, Kentoss Pharma, Sunrest Pharma, Ishan Healthcare etc.
 

Check Out Web-stories on Sotac Pharmaceuticals IPO

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Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY22 FY21 FY20
Revenue 73.15 48.84 28.60
EBITDA 6.14 1.45 1.86
PAT 2.88 -2.37 0.09
Particulars (in Rs. Crores) FY22 FY21 FY20
Total Assets 35.25 34.70 30.38
Share Capital 2.30 2.30 2.30
Total Borrowings 11.35 10.36 0.15
Particulars (in Rs. Crores) FY22 FY21 FY20
Net cash generated from / (used in) operating activities 6.35 -0.31 0.06
Net cash from / (used in) investing activities -3.52 -3.23 -11.75
Net cash flow from / (used in) financing activities -2.83 3.38 11.40
Net increase (decrease) in cash and cash equivalents 0.00 -0.16 -0.29

Peer Comparison

Name of the Company Revenue from operations (in Rs. crores)  EBITDA PAT Margin ROCE (%) ROE (%)
Sotac pharmaceuticals limited 73.15 6.14 3.94% 68.34% 63.16%
Lincoln Pharmaceuticals Limited 472.12 95.48 14.69% 21.94% 17.35%


Strengths

•    Wide range of Products including Non Beta-Lactam (general) tablets, beta-lactam tablets, Non BetaLactam (general) capsules, beta-lactam capsules, oral liquid, dry syrup and external preparations such as nasal spray, relief spray and cream through SOTAC Pharmaceuticals Limited and SOTAC Healthcare Private Limited
•    Strategic Location of Manufacturing Facilities in Ahmedabad, Gujarat
•    Business model is scalable, customer centric, and order driven
•    Strong Quality Assurance assured by the manufacturing units
 

Risks

•    Company conducts its activities on a purchase order basis and has not entered into long-term agreements with its suppliers for supply of raw materials
•    It is a high volume-low margin business
•    Inability to protect the intellectual property rights and not infringing intellectual property rights of other parties
•    Company is dependent on few numbers of customers for sales
 

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FAQs

The price for the Sotac Pharmaceuticals IPO is set at Rs. 105 - 111 per share.

The Sotac Pharmaceuticals IPO opens on 29th March and closes on 3rd April.

The IPO comprises of fresh issue of 3,000,000 equity shares which aggregates the issue size to Rs. 33.30 cr.

The allotment date of Sotac Pharmaceuticals IPO is set for 10th April.

The issue will be listed on 13th April.

The Sotac Pharmaceuticals IPO lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹133,200).

The net proceeds from the issue will be used for: 

•    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
 

To apply for the IPO, follow the steps given below
•    Login to your 5paisa account and select the issue in the current IPO section
•    Enter the number of lots and price at which you wish to apply for
•    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
•    You will receive a mandate notification to block funds in your UPI app
 

Sotac Pharmaceuticals IPO is promoted by Mr. Sharadkumar Dashrathbhai Patel, Mr. Dineshkumar Babulal Gelot, Mr. Vishalkumar Devrajbhai Patel, Mr. Chetankumar Bachubhai Patel, and Mrs. Kiran Baldevbhai Jotania.

Beeline Capital Advisors Limited is the book running lead managers to the issue.