Saroja Pharma Industries India Ltd Share Price – NSE

Trading, Small Cap

Saroja Pharma Industries India will hold a meeting of the Board of Directors of the Company on 9 November 2023.

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The scrip was listed at Rs 65, a discount of 22.62% compared with the issue price. The scrip hit a high of Rs 68.25 and a low of Rs 65. About 41,600 shares of the company changed hands at the counter.

The initial public offer (IPO) of Saroja Pharma Industries received was subscribed 8.47 times. The issue opened for bidding on 31 August 2023 and it closed on 5 September 2023.The IPO price was fixed at Rs 84 per share.

The IPO comprised fresh issue of 10,84,800 shares. The promoter and promoter group shareholding diluted to 73.02% from 100% pre-IPO.

The company intends to utilize the net proceeds to setup manufacturing unit, repay unsecured loans and public issue related expenses.

Saroja Pharma Industries India is engaged into the business of trading of pharma products like pharma API, Pharma Intermediary and Pharma chemicals all these products demand by its clientele and manufactured as per their specifications by the company's suppliers initially in sample size thereafter on clients testing and approving the order is finalized. The company is also into active pharmaceuticals ingredients trading. Some products they outsource, The company is also into specialty chemicals imports & exports as well as supply of same to the actual users. As on 31 March 2023, the company had total 13 employees

The company recorded a revenue from operations of Rs 50.19 crore and net profit of Rs 1.06 crore for the period ended as on 31 March 2023.

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