Saroja Pharma Industries IPO: GMP, subscription status on day 1, other key details

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₹84 per equity share and the share will be listed on the NSE SME exchange Wednesday, September 13. Saroja Pharma IPO, which is worth ₹9.11 crore, is completely a fresh issue; there is no offer for sale (OFS) component. The company plans to use the net proceeds from the offering to fund the following goals, such as setting up of manufacturing unit, to repay debt, to meet public issue expenses.

The Saroja Pharma Industries IPO share allotment will take place on Friday, 8 September. Those allotted shares will get them in their Demat accounts on Tuesday, 12 September. The refund process for those who did not get shares will begin on Monday, 11 September.

Specialty Chemicals & API are the focus of Saroja Pharma Industries India Limited's trading, exporting, and supply activities. The business specialises in three different product categories: chemical, pharmaceutical intermediary, and veterinary pharmaceutical API. The business provides items including Liquide Bromine, used as an agro-intermediate, Ethyl Acetate, used as an API solvent, and other pharmaceuticals, some of which are API solvents, used for human and veterinary treatments.

Also Read: IPOs this week: Saroja Pharma IPO to Basilic Fly Studio IPO - three issues open; details here Saroja Pharma Industries IPO subscription status was 79% on day 1. The issue received positive response from retail investors who's portion set was subscribed 1.58 times, and non-institutional buyers who's portion set was subscribed 11%, according to data on chittorgarh.com. The company has received bids for 8,12,800 shares against 1,084,800 shares on offer, according to data on chittorgarh.com.