New Delhi: Senores Pharmaceuticals IPO will open on Friday, December 20 and conclude on December 24. The share price of the initial public offering has been established within a range of Rs 668 to Rs 704 per share. The company raised nearly Rs 261 crore from anchor investors on Thursday.
Anchor investors included Troo Capital, Aditya Birla Sun Life Insurance Company, SBI General Insurance Company, ICICI Prudential Mutual Fund, and Mahindra Manulife Mutual Fund and others, a circular uploaded on the BSE website mentioned. The circular further stated that the firm allotted around 66.66 lakh equity shares to 20 funds at Rs 391 apiece.
Senores Pharmaceuticals IPO details
The company has reserved 75 per cent of the total shares for qualified institutional buyers, 15 per cent for non-institutional buyers and the remaining 10 per cent for retail investors. The Ahmedabad-based company’s IPO is a book built issue of Rs 582.11 crore, which is a combination of fresh issuance of shares worth Rs 500 crore and an offer for sale (OFS) of up to 21 lakh shares aggregating to Rs 82.11 crore.
Senores Pharmaceuticals IPO GMP, allotment date
Senores Pharmaceuticals IPO allotment expected on December 26, 2024
The refunds process likely to begin on December 27
The shares are predicted to be credited to the demat accounts of the eligible shareholders on December 27
The stock will list on BSE and NSE with a tentative date December 30.
Senores Pharmaceuticals IPO GMP stood at Rs 150 on December 20 morning. With the price band of Rs 391, the shares are estimated to list at a price of Rs 541, which indicates that the stock could list with a gain of 38.36 per cent.
How Senores Pharmaceuticals will use IPO proceeds
The company in its papers filed with the SEBI, mentioned that the proceeds from the IPO will be used for setting up a manufacturing facility for production of sterile injections in its Atlanta facility; funds will also be used for managing the working capital requirements of the company and its subsidiaries. Some portion of the proceeds will be used for general corporate purposes.
The retail investors applying for Senores Pharmaceuticals IPO are required to bid for a minimum lot size of 38 shares, which would require investment of Rs 14,858. The NII category investors are mandated to bid for a minimum of 14 lots and investors bidding in the bNII portion will have to apply for 68 lots.
Senores Pharmaceuticals is engaged in the business of identifying, developing, and manufacturing a wide array of specialty, underserved, and complex pharmaceutical products. The company has three R&D facilities in India and the US.
In 2023-24, Senores Pharma’s revenue from operations surged to Rs 214.52 crore as against Rs 35.34 crore in 2023-24. The profit after tax was recorded at Rs 32.71 crore. It was Rs 8.43 crore in 2023-24.
Equirus Capital, Ambit, and Nuvama Wealth Management are the book-running lead managers to the issue.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Senores Pharmaceuticals IPO opens for subscription on December 20, 2024. The GMP indicated shares are expected to be listed with around 38 per cent gains. The price band is fixed in the range of Rs 668 to Rs 704 per share. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
