Senores Pharmaceuticals IPO Day 1: Retail portion booked 3.46 times
Senores Pharmaceuticals’ initial public offer (IPO) was off to a decent start on its first day after the issue’s subscription rate climbed to 0.81 times. The issue saw strong demand from retail investors. The subscription period for the IPO will conclude on December 24, 2024.
Senores Pharmaceuticals IPO: Issue Details
Senores Pharmaceuticals IPO opened for subscription on December 20, 2024. The subscription period is scheduled to conclude on December 24, 2024. The IPO is a book-built issue of ₹582.11 crore and consists of an offer-for-sale (OFS) component and a fresh issue of equity shares. The company will issue 1.28 crore fresh equity shares while the OFS is for 0.21 crore.
The company will finalise the basis of the allotment of shares on December 26, 2024, and the shares of the company will tentatively be listed on the stock exchange on December 30, 2024.
Senores Pharmaceuticals IPO: Subscription Details
(December 20, 2024, 1:00 p.m.)
On Day 1, the qualified institutional buyers (QIBs) portion received bids for 532 shares against 45.93 lakh shares on offer. The portion for non-institutional investors (NIIs) was booked 0.65 times with bids for 15.03 lakh shares against 23.19 lakh shares on offer.
The company has set aside 15.46 lakh shares for retail investors. The portion was subscribed 3.46 times with bids for 53.55 lakh shares. The portion reserved for the company’s employees was subscribed 1.01 times with bids for 76,114 shares against an offer of 75,000 shares.
The issue was subscribed 0.81 times with bids for 69.35 lakh shares against 85.34 lakh shares on offer.
Senores Pharmaceuticals IPO: Price Band and Lot Size
The lot size for the Senores Pharmaceuticals IPO is 38 shares. The price band for the IPO Is set at ₹372 to ₹391 per share. To apply to the Senores Pharmaceuticals IPO, an investor will need to make a minimum investment of ₹14,858. The minimum lot sizes for small non-institutional investors and big non-institutional investors have been set at 14 lots and 68 lots, respectively.
About Senores Pharmaceuticals
Senores Pharmaceuticals is a developer and manufacturer of pharmaceutical products. Founded in 2017, the company serves markets such as the US, the UK, Canada, and emerging markets.
The company has a vast portfolio which includes multiple drugs for regulated markets. It has launched 55 products in several therapeutic areas. The company has R&D facilities in India and the US.
The company will utilise the net proceeds of the IPO to fund investment and capital expenditure for its subsidiary, Havix Group. The company will also use the funds for the partial or whole repayment or prepayment of borrowings of the company. Further, part of the funds will be used to meet the working capital requirements of the company.
For the quarter ended September 30, 2024, the company reported a net profit of ₹23.94 crore. The company’s revenue for the quarter came in at ₹183.35 crore.
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