Sorich Foils Limited IPO Review (Date, Price, DRHP)

Sorich Foils Limited IPO Review

Sorich Foils Limited is incorporated in 2011. This company is mainly engaged in supplying and manufacturing a different range of aluminum foils for blister, strip foils, cold forming foil, coated glassine paper for blister, laminated glassine paper for strip pack, child-resistant (CR) foils, aluminum lid foils, triple laminates etc. It is Gujarat based company. So, we have gathered some general information on Sorich’s issue price, face value, issue type, issue size etc for their public issue from their draft prospectus. In this article, we will post our Sorich Foils Limited IPO Review than can be important for the investors.

About Sorich Foils Limited IPO Review :

  • IPO Opens on – May 24, 2018.
  • IPO Closes on – May 28, 2018.
  • Face Value – Rs. 10 Per Equity Share.
  • Issue Price – Rs. 16 Per Equity Share.
  • Issue Type – Fixed Price Issue IPO.
  • Market Lot – 8000 Shares.
  • Minimum Order Quantity – 8000 Shares.
  • Issue Size – 2,500,000 Equity Shares of Rs 10 aggregating up to Rs 4.00 Cr.
  • Listing Exchange – NSE SME Exchange.
  • Draft Prospectus – Click Here.

Objectives of the issue :

  • Part Repayment/prepayment of Unsecured Loans availed by this company.
  • General corporate purposes.

About The Company –

  • Sorich Foils Limited is an ISO 9001: 2015 certified company.
  • The products of the company are also applicable to different industries likes FMCG packaging industry, Pharmaceutical industries, Food and dairy industries, Chocolate and Confectionery industries and Personal Care Packaging industries.
  • Sorich Foils Limited’s products are manufactured using the quality raw material, which is sourced from reliable vendors of the market.
  • This company mainly from Ahmedabad, Gujarat based company.
  • Sorich Foils Limited’s manufacturing facilities are currently located in Valsad, Gujrat.
  • This company has 38 employees on its payroll.
  • The products of Sorich Foils are designed and developed utilizing advanced machinery and latest technology in complete adherence with the industry laid norms and standards.
  • The commitment of this company at “Sorich” is to cater the need and expectations of quality conscious customers.

Sorich Foils Limited

Sorich Foils Ltd

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Sorich Foils Private Limited

Sorich Foils Pvt Ltd

Promoters of the company :

  • Chandrahas Kotian, aged 47 years, is the CEO, Managing Director, and Promoter of this company.

Company Financials :

Sorich Foils Limited IPO

Sorich Foils Limited IPO Review:

The draft red herring prospectus shows a hige loss on FY 2015 and somehow angradual increase in the annual profit on the last two financial year. Sorich Foils has clocked an earnings per share of 2.77. The DRHP also tells us that the P/E Ratio based on the basic and diluted EPS of FY 2016-2017 stands at 3.29 while industry composite P/E ratio is 7.25. The return on net worth (RoNW) stands at 11.22. Sorich Foils has a NAV/share of 29.28 as per the last financial year. Hence, based on the profitability data in conjuction to the financial parameters, our Sorich Foils Limited IPO Review has a NEUTRAL view on this issue.

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