Sunrest Lifescience Ltd to raise Rs. 10.85 crore via IPO opening on November 7

Jaipur: Sunrest Lifescience Ltd, an Ahmedabad-based pharmaceutical company, is set to raise Rs. 10.85 crore through an SME public issue opening on November 7 and closing on November 9. The funds will be used for expansion and to meet working capital needs. The public issue is approved for the NSE Emerge Platform, with Mark Corporate Advisors Private Limited as the lead manager.

The IPO includes a fresh issue of 12.91 lakh equity shares at a price of Rs. 84 per share, totaling Rs. 10.85 crore. The minimum application lot size is 1,600 shares (Rs. 1.34 lakh investment). Retail investors have a 50% allocation, and 65,600 shares are reserved for market makers.

Incorporated in 2017, Sunrest Lifescience Limited offers a diverse range of healthcare and personal care products. The company’s product range includes Capsules, Tablets, Syrup, Ointment, Gel, mouthwash, Solution, Suspension, Dry Powders, and Toothpaste. Sunrest Lifescience’s product portfolio encompasses an extensive range of drugs such as Anti-Bacterial, AntiDiarrheal, AntiFungal, Anti Malerial, Anti Diabetic, Dental Cure, Anti Protozol, Anti Histamine, Anti-Hypertensive drugs, Cosmetic, Anti Parasitic, Multivitamin, Multimineral, Nutraceutical, and Anti-inflammatory.

Sunrest Lifescience holds 18 Registered Trademarks for 32 products, focusing on delivering high-quality items. It collaborates with third-party pharma manufacturers, including Trilend Pharmaceuticals Pvt Ltd, a Sunrest group company. The manufacturing units are located in various Indian states: Gujarat, Punjab, Maharashtra, Haryana, Himachal Pradesh, Uttarakhand, and Madhya Pradesh.

Mr. Nikhilkumar Thakkar, Mr. Amitbhai Thakkar, Mr. Bhagyesh Parekh and Mr. Bharatkumar Thakkar are the promoters of the company. Promoter holding post-issue will be 69.91%.

For the FY22-23 company reported total revenue of Rs. 24.67 crore and Net Profit of Rs. 2.04 crore. As on 30 June 2023, Reserves & Surplus stands at Rs. 86.60 lakh, Total Assets at Rs. 17.06 crore and Net Worth of Rs. 3.86 crore. Shares of the company will be listed on NSE’s Emerge platform.