Sunrest Lifescience Ltd is set to launch a small and medium-sized enterprise (SME) public issue on the National Stock Exchange's (NSE) Emerge Platform. The subscriptions, open from November 7-9, aim to raise Rs 10.85 crore ($1.47 million) to fund expansion, working capital needs, and general corporate activities.
The initial public offering (IPO), managed by Mark Corporate Advisors Private Limited, comprises 12.91 lakh equity shares at Rs 84 each. Investors can apply with a minimum lot size of 1,600 shares or Rs 1.34 lakh per application. The issue includes a retail allocation of 50% and a market maker reservation portion of 65,600 shares.
Founded in 2017 by Mr. Nikhilkumar Thakkar, Mr. Amitbhai Thakkar, Mr. Bhagyesh Parekh, and Mr. Bharatkumar Thakkar, Sunrest Lifescience offers a diverse product range of healthcare and personal care items such as capsules, tablets, syrup, ointment, gel, dry powders and toothpaste under 18 registered trademarks for 32 products.
These products are manufactured by the company's network of 43 third-party manufacturers across India including Trilend Pharmaceuticals Pvt Ltd.
In the fiscal year 2022-23, Sunrest reported revenues of Rs 24.67 crore ($3.35 million), a net profit of Rs 2.04 crore ($277K), total assets of Rs 17.06 crore ($2.32 million) and a net worth of Rs 3.86 crore ($525K). Following the IPO, the promoter holding will stand at 69.91%.
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