- Senores Pharmaceuticals IPO offers ₹582.11 crores, including both fresh issue and offer for sale.
- Price band: ₹372 to ₹391 per share; Retail investors' minimum investment: ₹14,858.
- IPO subscription opens on December 20, 2024, and closes on December 24, 2024.
- The IPO will list on BSE and NSE on December 30, 2024.
- Proceeds will fund working capital, R&D, and repayment of borrowings.
Senores Pharmaceuticals has launched an initial public offering (IPO) of ₹582.11 crores, comprising both a fresh issue and an offer for sale. The fresh issue includes 1.28 crore shares worth ₹500 crores, and the offer for sale is of 0.21 crore shares, amounting to ₹82.11 crores. The IPO is open for subscription from December 20 to December 24, 2024.
The company has set the price band for the IPO at ₹372 to ₹391 per share. Retail investors can apply for a minimum of 38 shares, with the minimum investment amount set at ₹14,858. The allotment of shares is expected to be finalized on December 26, 2024, and the shares are expected to be listed on the BSE and NSE on December 30, 2024.
Senores Pharmaceuticals IPO: Key Details
| Details | Information |
|---|---|
| IPO Size | ₹582.11 crores |
| Fresh Issue | 1.28 crore shares (₹500 crores) |
| Offer for Sale | 0.21 crore shares (₹82.11 crores) |
| Price Band | ₹372 to ₹391 per share |
| Lot Size | 38 shares |
| Minimum Investment for Retail | ₹14,858 |
| Retail Maximum Investment | ₹1,93,154 (494 shares) |
| S-HNI (Small HNI) Investment | ₹2,08,012 (532 shares) |
| B-HNI (Big HNI) Investment | ₹10,10,344 (2,584 shares) |
| Issue Type | Book Built Issue |
| Listing | BSE, NSE |
| Face Value | ₹10 per share |
| IPO Subscription Period | December 20 to December 24, 2024 |
| Allotment Date | December 26, 2024 |
| Refunds and Credit of Shares | December 27, 2024 |
| Listing Date | December 30, 2024 |
IPO Tentative Timeline
| Event | Date |
|---|---|
| IPO Open Date | December 20, 2024 |
| IPO Close Date | December 24, 2024 |
| Basis of Allotment | December 26, 2024 |
| Initiation of Refunds | December 27, 2024 |
| Credit of Shares to Demat | December 27, 2024 |
| Listing Date | December 30, 2024 |
| Cut-off time for UPI Mandate Confirmation | 5 PM on December 24, 2024 |
Investment Details
The minimum investment required is ₹14,858 for retail investors, with a lot size of 38 shares. Here’s a detailed look at the lot size and investment amounts:
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 38 | ₹14,858 |
| Retail (Max) | 13 | 494 | ₹1,93,154 |
| sNII (Min) | 14 | 532 | ₹2,08,012 |
| sNII (Max) | 67 | 2,546 | ₹9,95,486 |
| bNII (Min) | 68 | 2,584 | ₹10,10,344 |
IPO Reservation Breakdown
- QIB (Qualified Institutional Buyers): 30% of the issue (44,43,817 shares)
- NII (Non-Institutional Investors): 15% of the issue (22,21,909 shares)
- RII (Retail Individual Investors): 10% of the issue (14,81,272 shares)
- Anchor Investors: 45% of the issue (66,65,725 shares)
Detailed Reservation for NII
| Category | Shares Offered | Percentage | Maximum Allottees |
|---|---|---|---|
| Anchor Investors | 66,65,725 | 45% | NA |
| QIB | 44,43,817 | 30% | NA |
| NII (HNI) | 22,21,909 | 15% | – |
| bNII (bigger HNI > ₹10L) | 15,18,605 | 10.25% | 2,854 |
| sNII (smaller HNI < ₹10L) | 7,03,304 | 4.75% | 1,322 |
| Retail Investors | 14,81,272 | 10% | 38,980 |
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About Senores Pharmaceuticals
Senores Pharmaceuticals, established in December 2017, develops and manufactures pharmaceutical products primarily for regulated markets such as the US, Canada, and the UK, alongside emerging markets. The company has launched 55 products as of September 30, 2024, and operates across 43 countries.
Its manufacturing facility is based in Ahmedabad, Gujarat, with US FDA-approved facilities. The company also has three dedicated R&D facilities in India and the US.
Key Products Include:
- Amphetamine Sulfate Tablets
- Hydroxychloroquine Sulfate Tablets
- Ketoconazole Tablets
- Escitalopram Tablets
- Morphine Sulfate Tablet
Financial Performance
| Period Ended | Revenue (₹ Cr) | Profit After Tax (₹ Cr) | Net Worth (₹ Cr) |
|---|---|---|---|
| 30 Sep 2024 | 183.35 | 23.94 | 319.06 |
| 31 Mar 2024 | 217.34 | 32.71 | 231.71 |
| 31 Mar 2023 | 39.02 | 8.43 | 45.50 |
| 31 Mar 2022 | 14.63 | 0.99 | 36.59 |
IPO Proceeds Usage
The proceeds from the IPO will be used for:
Acquisitions and Strategic Initiatives for inorganic growth.
Capital Expenditure for setting up a sterile injection manufacturing facility at Havix Group.
Repayment/Pre-payment of borrowings availed by the company and its subsidiaries.
Funding Working Capital for the company and its subsidiaries.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice or an endorsement of any IPO or investment opportunity. While we strive to ensure the accuracy of the details shared, the content is based on publicly available information, research, and reports from credible sources. Readers are advised to verify the details independently and consult with a financial advisor before making any investment decisions.Stay informed and exercise caution while making financial decisions.
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