Sunrest Lifescience Ltd, a pharmaceutical company based in Ahmedabad, plans to raise Rs. 10.85 crore from its SME public issue on November 7. The issue will be launched on the NSE Emerge Platform of the National Stock Exchange. The proceeds will fund the company’s expansion plans, meeting working capital requirements, and General Corporate purpose. The issue will close on November 9.
The company is launching an initial public offering (IPO) with a face value of Rs. 10 each, priced at Rs. 84 per share, bringing the total to Rs. 10.85 crore. The minimum lot size is 1,600 shares, requiring an investment of Rs. 1.34 lakh per application.
The IPO will have a retail allocation of 50% each, with a market maker reservation of 65,600 equity shares. The company’s promoters are Mr. Nikhilkumar Thakkar, Mr. Amitbhai Thakkar, Mr. Bhagyesh Parekh, and Mr. Bharatkumar Thakkar. The company reported a total revenue of Rs. 24.67 crore for FY22-23, with a net profit of Rs. 2.04 crore.
