Sotac Pharmaceuticals plans to raise about ₹33 crore by listing on NSE Emerge through initial public offering. The company will issue 30 lakh shares at the price band of ₹105 to ₹111.
The shares will be sold in lot size of 1,200 shares. The issue closes on April 3. Beeline Capital Advisors is the lead manager and KFin Technologies is the registrar to the issue.
The issue proceeds will be used to meet working capital requirements, investment in subsidiary, construction of new building in the existing premises and general corporate purpose.
Diverse portfolio
Sotac Pharmaceuticals has a diverse product portfolio of pharmaceuticals, nutraceuticals, and food products. The company has two manufacturing units in Ahmedabad. Its clients include Cadila Pharma, Intas, Ronak Health Care, Sunrest Lifesciences, Lincoln Pharma, Treatwell Pharma among other.
The company has recently completed capacity expansion and has an upcoming facility in its subsidiary, Sotac Lifesciences, providing significant room for growth.
Sotac Pharma has registered consolidated revenue of ₹40 crore in the first six months of this fiscal, while it was ₹73 crore for FY22 and ₹49 crore for FY21.
Its consolidated EBITDA was ₹4 crore in six months of this fiscal, while it was ₹6 crore for FY22 and ₹1 crore for FY21. Its net profit was ₹47 lakh for six months of this fiscal, which was ₹3 crore for FY22.