Evoq Remedies Limited IPO (Mar 17, 2022-Mar 22, 2022)

Incorporated in 2010, EVOQ Remedies Limited specializes in offering quality Pharmaceuticals Raw Material products, Excipients, and Bulk Drugs at an affordable prices. The company procures all the products from WHO-GMP certified & reliable Manufacturers & Importers, who follow procedures as per the stringent national and international quality and safety standards.

Competitive strengths:

  • Experienced Management Team.
  • Continue to develop client relationships and Trust.
  • Supplying the best quality products at the most reasonable prices.

Company Promoters:

Mr. Bhumishth Narendrabhai Patel and Mrs. Payal Bhumishth Patel are the company promoters.

Company Financials:

ParticularsFor the year/period ended (Rs in Lakh)
Total Assets2660.58804.63565.22214.78
Total Revenue1056.581002.48907.21325
Profit After Tax93.6771.380.031.11

Objects of the Issue:

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:

  1. To Meet Incremental Working Capital Requirements.
  2. General Corporate Purpose.
  3. To meet Public Issue Expenses.

Evoq Remedies IPO Details

IPO Opening DateMar 17, 2022
IPO Closing DateMar 22, 2022
Issue TypeFixed Price Issue IPO
Face Value₹10 per equity share
IPO Price₹27 per equity share
Market Lot4000 Shares
Min Order Quantity4000 Shares
Listing AtBSE SME
Issue Size3,600,000 Eq Shares of ₹10
(aggregating up to ₹9.72 Cr)
Fresh Issue3,600,000 Eq Shares of ₹10
(aggregating up to ₹9.72 Cr)
Retail Shares Offered50%
NII (HNI) Shares Offered50%

Evoq Remedies IPO Tentative Timetable

The Evoq Remedies IPO open date is Mar 17, 2022, and the close date is Mar 22, 2022. The issue may list on Mar 30, 2022.

IPO Open DateMar 17, 2022
IPO Close DateMar 22, 2022
Basis of Allotment DateMar 25, 2022
Initiation of RefundsMar 28, 2022
Credit of Shares to Demat AccountMar 29, 2022
IPO Listing DateMar 30, 2022

Evoq Remedies IPO Lot Size

The Evoq Remedies IPO market lot size is 4000 shares. A retail-individual investor can apply for up to 1 lots (4000 shares or ₹108,000).

ApplicationLotsSharesAmount (Cut-off)

Evoq Remedies IPO Promoter Holding

Pre Issue Share Holding99.99%
Post Issue Share Holding73.53%

3rd Party IPO Application

SBI Bank, Axis Bank, Bank of Baroda (BoB), RBL Bank and IndusInd Bank.

Evoq Remedies IPO Review

The company has posted a lacklustre performance so far. The sudden boost in bottom lines since FY21 onwards appears window dressing to pave the way for fancy pricing of this IPO. The sustainability of such performance going forward is a major concern. Based on its financial parameters, the issue is aggressively priced. It is operating on third party deals only and has no assets. Considering all these, there is no harm in ignoring this highly-priced IPO.

Company Contact Information

Evoq Remedies Limited
A-1106, Empire Business Hub
Near AUDA Water Tank,
Science City Road, Sola, Ahmedabad-380060
Phone: 7948402525
Email: info@evoqremedies.com

Evoq Remedies IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com

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