Sotac Pharmaceuticals SME IPO: Check subscription status, GMP signal

The Sotac Pharmaceuticals IPO consists of 3,000,000 equity shares with a face value of ₹10, totaling up to Rs. 33.30 crore. The minimum order size is 1200 shares, and the issue is priced between ₹105 and ₹111 per share.

The proposed listing of the shares on NSE SME is being managed by KFin Technologies Ltd, the IPO’s registrar. The proposed date for Sotac Pharmaceuticals’ IPO listing is April 13, 2023, while the official date has not yet been declared.

According to the schedule provided in the red-herring brochure, the Sotac Pharmaceuticals IPO allotment status will be reachable on April 10, 2023.

HNIs and NIIs are permitted to bid for a minimum of 2 lots of 2,400 shares, representing an outlay of ₹266,400. According to the rules of the offer, qualified institutional buyers (QIBs) will receive 50% of the net offer, HNI/NII investors would receive 15%, and retail investors will receive the remaining 10% of the issue.

Sotac Pharmaceuticals IPO subscribed 1.60 times. The public issue subscribed 0.91 times in the retail category, 1.00 times in QIB, and 4.04 times in the NII category.

The latest IPO GMP today for Sotac Pharmaceuticals is ₹5, and it was updated on April 3 at IPOWatch. Presuming a price range of Rs. 111, the expected listing price for the Sotac Pharmaceuticals SME IPO is Rs. 116 (cap price + today’s GMP). Hence, the likely listing premium is being notified as per the GMP signal at 4.51%.

For the first half of FY23, Sotac Pharma reported consolidated revenue of ₹40 crore, compared to ₹73 crore for FY22 and ₹49 crore for FY21. Its consolidated EBITDA for the first half of FY23 was ₹4 crore, compared to ₹6 crore for FY22 and ₹1 crore for FY21. Its net profit for the first half of FY23 was Rs. 47 lakh, compared to Rs. 3 crore for FY22.