Sunrest Lifescience LTD. IPO: Review, Valuation & GMP Today

Sunrest Lifescience Limited- Complete Overview

SUNREST LIFESCIENCE LIMITED was founded in 2017-2018 by imaginative entrepreneurs like Amit Thakkar, Bharat Thakkar, Nikhil Thakkar, and Bhagyesh Parekh. Since then the company has rapidly developed under their expertise. SUNREST LIFESCIENCE LIMITED, which is a leading pharmaceutical company situated in Ahmedabad, Gujarat, India, has been serving healthcare needs for more than five years. With a network of over 250 distributors and 25,000 retailers across three states, and a team of 130 sales representatives.
 
When we talk about pharmaceutical companies in India, SUNREST LIFESCIENCE LIMITED is considered one of the most trusted companies in the country. Looking at partners and families of competent business associates and qualified healthcare professionals across the country. The company is committed to excellence in service and high-quality standards, and its marketing strategies are designed to help its business associates succeed.
 
SUNREST LIFESCIENCE LIMITED holds a diversified product portfolio of over 280 products, such as antibacterials, antibiotics, antiamoebic, antifungals, analgesics, neuropathy medications, antihypertensive medications, anti-inflammatory medications, anti-ulcerates, anti-cold medications, anti-cough medications, anti-allergic medications, nutritionals, ayurvedic products, and cosmetics. All these products are available in different forms for instance tablets, capsules, soft gels, syrups, dry syrups, injections, creams, ointments, and powders.

 

What does the company do?

Promoters and directors of the company have over two decades of experience in the pharmaceutical business. With their expertise, they further aim to continue growing in this field with consistency. The company markets several OTC generic pharmaceutical products in the domestic market. Such as Tablets, Liquid Ointment, Gel, Ice Gel, Mouthwash, Paste, Solution, Suspension, Drypowders and Tooth-Paste.

 

 

IPO Overview

Sunrest Lifescience Limited IPO date is dated to be open for subscription from November 7, 2023, to November 9, 2023. This SME IPO follows a Fixed Price Issue format.

The Sunrest Lifescience Limited IPO price is fixed at Rs. 4 per share. The upcoming SME IPO is anticipated to be listed on November 20, 2023.

The total issue size of this IPO amounts to Rs. 10.85 Crores. Within this total issue, 50% is allocated for other investors, while the remaining 50% is earmarked for retail investors.

 

Sunrest Lifescience Limited IPO timetable (Tentative)

Events	Date
IPO Opening Date	7 November 2023
IPO Closing Date	9 November 2023
IPO Allotment Date	15 November 2023
Refund initiation	16 November 2023
IPO Listing Date	20 November 2023

 

Sunrest Lifescience Limited IPO Details

IPO Opening & Closing Date	7 November to 9 November 2023
Face value	Rs. 10 per Share
Issue Price	Rs. 84 per Share
Lot Size	1600 Shares
Total Issue Size	1,291,200 Shares (aggregating up to Rs. 10.85 Cr)
Offer for Sale	NA
Fresh issue	1,291,200 Shares (aggregating up to Rs. 10.85 Cr)
Listing at	NSE SME
Issue Type	Fixed Price Issue IPO
Registrar	Skyline Financial Services Private Ltd

 

Sunrest Lifescience Limited IPO Lot Details

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
Minimum Lot Investment (HNI)	2 Lot

 

 

Sunrest Lifescience Limited IPO Reservation

Other Investors share Portion	50%
Retail Investors Share Portion	50%

 

Company Financial

Amount in Lakhs

Period	FY 23	FY 22	FY 21
Total Assets	1,671.37	1,301.97	948.15
Total Revenue	2,467.05	2,690.99	1,694.91
PAT	204.31	77.71	16.55
Net worth	311.52	107.20	29.49
Reserve & Surplus	11.52	106.20	28.49
Total Borrowings	214.32	323.83	231.55

 

State-wise Revenue Bifurcation

(Amount in Lakhs)

States	FY 23	FY 22	FY 21
Maharashtra	1030.528	2467.05	627.73
Gujarat	990.100	1189.778	746.27
Madhya pradesh	96.178	24.076	-
Rajasthan	350.243	425.018	320.91
Odisha	-	-	-
Total	2467.05	2688.726	1694.910

 

Revenue from Operations

(Amount in Lakhs)

Products or Services	FY 23	FY 22	FY 21
Sale of Products
Health Care Products & Cosmetics	2464.20	2688.75	1694.91

 

Objective of the Issue

The company intends to use the net proceeds for the following objectives:

• Meeting Working Capital Requirements
• General Corporate Purpose
• Meeting Public Issue Expenses

 

Promoters and Management of Sunrest Lifescience Limited

Promoters of Our Company are:

1. Mr. Nikhilkumar Y Thakkar
2. Mr. Amitbhai Shambhulal Thakkar
3. Mr. Bhagyesh Kiritbhai Parekh
4. Mr. Bharatkumar V Thakkar       

Pre-issue Promoter Shareholding	100%
Post-issue Promoter Shareholding	69.91%

 

Peers of Sunrest Lifescience Limited

• Trident Lifeline Limited
• Vaishali Pharma Limited
• Chandra Bhagat Pharma Limited

 

KPI (Key Performance Indicator)

KPI	Values
P/E (x)	12.33
Post P/E (x)	12
Market Cap (Rs. in Cr.)	36.05
ROE	53%
ROCE	98%
Debt/Equity	0.64
EPS (Rs.)	6.81
RoNW	65.59%

 

IPO's Valuations

To evaluate the IPO's valuation, we can utilize the information presented in the company's DRHP. Sunrest Lifescience Limited's IPO price is set at Rs. 84 per share, with an EPS of Rs. 6.81. Based on the issue price the company's P/E ratio is calculated at 12.33.

 

Dividend Policy

According to Sunrest Lifescience Limited IPO DRHP, the company did not distribute dividends in the preceding fiscal years, and its capacity to declare dividends in the future hinges on its earnings and financial health.

 

IPO's Strengths

• Experienced Promoters and Management Team.
• Wide range of Products.
• Efficient marketing team.

 

IPO Weaknesses

• The Company rents its office and warehouse.
• They are facing multiple legal proceedings.
• The company relies heavily on others to make its products.
• The company still needs a lot of money to keep growing.
• They are dependent on several outside permits to operate efficiently.

 

 

IPO GMP Today

Sunrest Lifescience Limited SME IPO GMP has not started yet , but we will keep you updated with the recent update .

 

Conclusion

If we look at the company's sales they have been quite inconsistent and its profits have suddenly increased in the past 15 months.This becomes a matter of concern as it raises questions about how sustainable the company's future businesses could be. Company's stock price is currently high, so it might not be an ideal time to invest in this. The company's small size means it will take longer for it to move to the main stock exchange.We might suggest it to investors who are aware of the ups and downs of the market and have spare amount then they should consider investing in this company for the long term.

 

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

 

To Read the Prospectus of the Company Click Here to Download the DRHP.

 

 

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