Sunrest Lifescience Ltd IPO Timeline

Sunrest Lifescience Ltd IPO opens on 07-Nov-2023, and closes on 09-Nov-2023. The Sunrest Lifescience Ltd IPO bid date is from 07-Nov-2023 to 09-Nov-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Sunrest Lifescience Ltd IPO Opening Date 07-Nov-2023
Sunrest Lifescience Ltd IPO Closing Date 09-Nov-2023
Basis of Allotment 15-Nov-2023
Initiation of Refunds 16-Nov-2023
Credit of Shares to Demat 17-Nov-2023
Sunrest Lifescience Ltd IPO Listing Date 20-Nov-2023

Sunrest Lifescience Ltd IPO Lot Size

Sunrest Lifescience Ltd IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or 134400).

Application Lots Shares Amount
Minimum 1 1600 ₹134400
Maximum 1 1600 ₹134400

Sunrest Lifescience Ltd IPO Details

Sunrest Lifescience Ltd IPO Date 07-Nov-2023 to 09-Nov-2023
Sunrest Lifescience Ltd IPO Face Value Shares of ₹10 per share
Sunrest Lifescience Ltd IPO Price ₹84 per share
Sunrest Lifescience Ltd IPO Lot Size 1600
Issue Size Shares of ₹10 (aggregating up to ₹10.85 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹10.85 Cr)
Offer for Sale -
Issue Type Fixed Price - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Nikhilkumar Y Thakkar, Ambitbhai Shambhulal Thakkar, Bhagyesh Kirtibhai Parekh.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Meeting working capital requirements
  • 2 General corporare purposes

Company Financials

Sunrest Lifescience Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2023 16.71 24.67 2.04
03-2022 13.02 26.91 0.78
03-2021 9.48 16.95 0.17
Amount in ₹ Crore
  • Experienced Promoters and Management Team.
  • Wide range of Products.
  • Efficient marketing team.
  • Its registered office and warehouse from where the company operate, are not owned by it.
  • There are outstanding legal proceedings involving the Company, the Directors and the Promoter.
  • The company relies on third parties for manufacturing of products for the Company.
  • The Company requires significant amount of working capital for a continued growth. Its inability to meet the working capital requirements may have an adverse effect on the company results of operations.
  • The company requires a number of approvals, licences, registrations and permits in the ordinary course of the business and any failure or delay in obtaining the same in a timely manner may adversely affect its operations.
  • The company's business activities are exposed to fluctuations in the prices of raw materials.
  • If the company cannot respond adequately to the increased competition its expect to face, the company will lose market share and the profits will decline, which will adversely affect its business, results of operations and financial condition.
  • There have been instances of delays or non-filling of certain forms which were required to be filed as per the reporting requirements under the Companies Act, 2013 to the Registrar of Companies.
  • Non generation of separate Unique Document Identification Number (UDIN) for the Tax Audit Report and the Statutory audit Report for the financial year 2019-2020
  • Non-compliance of Section 203(3) of the Companies Act, 2013.
  • The company has in the last 12 months issued Equity Shares at a price that may be at lower than the Issue Price.
  • The Company has availed Rs.3.37 Crore as an unsecured loan as on 31st December 2022 which is repayable on demand. Any demand from the lenders for repayment of such an unsecured loan may affect its cash flow and financial condition.
  • Certain agreements may be inadequately stamped or may not have been registered as a result of which its operations may be adversely affected.
  • The company has not executed any agreement with any of its Super Stockists and Stockists.
  • Its inability to identify, obtain and retain intellectual property rights, or to protect or use them, could harm its business. Further, the company may infringe upon the intellectual property rights of others, any misappropriation of which could adversely affect its business and reputation.
  • Delay in Deposits of Tax Deducted at Source (TDS) with the Income Tax Authority.
  • The customers may delay or default in making payments for services rendered by it. If the company is unable to collect its receivables from the customers, its profits, cash flows and liquidity could be adversely affected.
  • Availment of Car Loan on behalf of the Directors.
  • Shares transferred as gift not being shown/ reflected in the ITR and related gift deeds are not registered.
  • Being a pharmaceutical company, its operate in a highly regulated and controlled industry environment. The company business is dependent on approvals from relevant regulatory and health authorities. Any delay or failure to obtain or renew such required regulatory approvals, registrations, or any change in the regulatory environment in relation to marketing the products in regulated markets may significantly impact its business and strategy affecting the company overall profitability.
  • The products that its commercialize may not perform as expected which could adversely affect the company business, financial condition, and results of operations.
  • The availability of counterfeit drugs, such as drugs passed off by others as the company products, could adversely affect its goodwill and results of operations.
  • The Company had negative cash flow from operating activity in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition, and results of operations.
  • If the company inadvertently infringe on the patents of others, its business may be adversely affected.
  • The company generally do business with the customers on purchase order basis and do not enter into long term contracts with most of them.
  • The Company's failure to maintain the quality standards of the products or keep pace with the technological developments could adversely impact its business, results of operations and financial condition.
  • The company is subject to risks associated with expansion into New Markets.
  • The Company is dependent on third party transportation for the delivery of products and any disruption in their operations or a decrease in the quality of their services could affect the Company's reputation and results of operations.
  • In addition to normal remuneration, other benefits, and reimbursement of expenses to the Promoters and Directors; they are interested to the extent of their shareholding and dividend entitlement thereon in the Company and for the transactions entered into between the Company and themselves as well as between the Company and the Group Companies/Entities.
  • The average cost of acquisition of Equity shares by the Promoters is lower than the Issue price.
  • The company's success depends heavily upon the Promoters, Directors and Key Managerial Personnel for their continuing services, strategic guidance and financial support.
  • Any conflict of interest which may occur between the business and any other similar business activities pursued by the Promoters and Promoter Group entity could have a material adverse effect on its business and the results of operations.
  • The Company has entered into certain related party transactions and may continue to do so in the future.
  • The company Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • The company insurance coverage may not be adequate to protect us against all potential losses to which its may be subject to, and this may have a material adverse effect on the business.
  • There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
  • Industry information included in this draft prospectus has been derived from industry reports. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
  • The company has not identified any alternate source of raising the funds required for the object of the Issue and the deployment of funds is entirely at its discretion and as per the details mentioned in the section titled "Objects of the Issue".
  • Within the parameters as mentioned in the chapter titled "Objects of this Issue" of this draft prospectus, the Company's management will have flexibility in applying the proceeds of this Issue. The fund requirement and deployment mentioned in the Objects of this Issue have not been appraised by any bank or financial institution.
  • There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the NSE Emerge in a timely manner, or at all.
  • Any variation in the utilization of the Net Proceeds as disclosed in this Draft Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
  • Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by the company major shareholders may adversely affect the trading price of the Equity Shares.
  • Its ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the financing arrangements.
  • Its inability to effectively implement its business and growth strategy may have an adverse effect on the operation and growth.
  • The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
  • The requirements of being a public listed company may strain its resources and impose additional requirements.
  • The company has relied on the affidavits provided by its promoter for their experience.
  • The company contingent liabilities could adversely affect its financial condition.
  • Increasing our local presence.
  • Strengthen our marketing network.

Sunrest Lifescience Ltd IPO Promoter Holding

Pre Issue Share Holding 94.97%
Post Issue Share Holding 66.39%

Sunrest Lifescience Ltd IPO Subscription Status (Bidding Detail)

The Sunrest Lifescience Ltd IPO is subscribed 45.0979 times on Nov 09, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 45.0979

Sunrest Lifescience Ltd IPO Prospectus

Sunrest Lifescience Ltd IPO Listing Date

Listing Date 20 Nov 23
BSE Script 91669
NSE Symbol SUNREST
Listing In NSE - SME
ISIN INE0PLZ01012
IPO Price ₹84
Face Value ₹10

Sunrest Lifescience Ltd IPO Registrar

Skyline Financial Services Pvt

Phone: +91 1126812682
Email: Virenr@Skylinerta.Com
Website: www.skylinerta.com

Sunrest Lifescience Ltd IPO Lead Manager(s)

  1. Mark Corporate Advisors Pvt Ltd

FAQs on Sunrest Lifescience Ltd IPO

Sunrest Lifescience Ltd IPO, which opens for subscription from 07-Nov-2023 to 09-Nov-2023 has an issue size of ₹10.85 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Sunrest Lifescience Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Sunrest Lifescience Ltd IPO Opens for subscription from 07-Nov-2023 to 09-Nov-2023.

The lot size of Sunrest Lifescience Ltd is 1600 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹134400 and ₹134400 respectively.

Allotment date for Sunrest Lifescience Ltd is 15-Nov-2023 and refund of application amount (in case allotment is not received) will begin from 16-Nov-2023. If your allotment goes through, then shares will be credited in your Demat account by 17-Nov-2023.

The registrar for Sunrest Lifescience Ltd IPO is Skyline Financial Services Pvt. You can check your IPO allotment status on the registrar's website.

The shares of Sunrest Lifescience Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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