Senores Pharmaceuticals IPO: The public issue of Rs 582.11 crore of pharma company Senores Pharmaceuticals has closed on December 24. Now the shares will be listed on BSE, NSE on 30th December. In the IPO, 1.28 crore new shares worth Rs 500 crore were issued and 21 lakh shares worth Rs 82.11 crore were offered for sale. Bidding started on December 20 in the price band of Rs 372-391 per share.
Talking about the estimates regarding the listing of shares, in the gray market, the shares of Senores Pharmaceuticals are trading at a premium of Rs 284 or 72.63 percent over the upper price band of IPO of Rs 391. On this basis the share can be listed at Rs 675. The gray market is an unauthorized market where shares of a company trade until its listing.
IPO subscribed 97.86 times
The promoters of the company are Swapnil Jatinbhai Shah and Ashok Kumar Vijay Singh Barot. Before the IPO, the company raised Rs 260.63 crore from anchor investors. The IPO was subscribed 97.86 times. The reserve portion for qualified institutional buyers was filled 97.84 times, the reserve portion for non-institutional investors was filled 100.35 times and the reserve portion for retail investors was filled 93.16 times.
IPOs This Week: There will be only 2 new IPOs in the week starting from December 30, 6 companies will debut in the stock market.
How will the company use the IPO money?
Senores Pharmaceuticals will use the proceeds from the issuance of new shares in its IPO to invest in subsidiaries Havix Group, Senores Pharmaceuticals Inc, Ratnatris Pharmaceutical Private Limited, to repay all or part of its and Havix’s debt. , to fund working capital requirements, for inorganic growth through acquisitions and other strategic initiatives and for general corporate purposes.
Business and financial position of Senores Pharmaceuticals
Senores Pharmaceuticals’ business is primarily focused on the regulated markets of the United States, Canada and the United Kingdom. Apart from this, it also has presence in 43 emerging markets. The company also manufactures critical care injectables and APIs (Active Pharmaceutical Ingredients).
The financial performance of the company has been healthy. Its net profit increased by 288 percent to Rs 32.7 crore in FY 2024, from Rs 8.4 crore in the previous financial year. Revenue increased by 457 percent to Rs 217.3 crore during FY2024 from Rs 39 crore in FY2023. Revenue for the April-September 2024 period stood at Rs 183.35 crore and net profit at Rs 23.94 crore.
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