Senores Pharma IPO: Price band set at ₹372-391 per share; check key dates, issue details, and more

Senores Pharmaceuticals IPO price band: The Senores Pharmaceuticals IPO price band has been fixed in the range of ₹372 to ₹391 per equity share of the face value of Re 1. Re 1. Investors can apply with a minimum lot size of 38 shares, requiring a minimum investment of ₹14,858 for retail participants.

This ₹582.11 crore IPO is scheduled to open for subscription on Friday, December 20, and will close on Tuesday, December 24. The allocation to anchor investors is planned for Thursday, December 19. The basis of allotment is expected to be finalized on Thursday, December 26, 2024, with a tentative listing date set for Monday, December 30, 2024, on both the BSE and NSE.

About the firm

According to the Red Herring Prospectus (RHP), Senores Pharmaceuticals is a global research-driven pharmaceutical company focused on the development and manufacture of a diverse range of pharmaceutical products. It serves highly regulated markets such as the US, Canada, and the United Kingdom, while also maintaining a presence in emerging markets. The company specializes in critical care injectables and active pharmaceutical ingredients (APIs).

The company has shown significant growth in recent years. Its consolidated revenue from operations increased from ₹141.70 million in FY22 to ₹353.37 million in FY23, and further to ₹2,145.24 million in FY24. For the six months ending September 30, 2024, Senores reported revenue from operations of ₹1,810.18 million.

Similarly, the company’s consolidated profit rose from ₹9.91 million in FY22 to ₹84.33 million in FY23 and surged to ₹327.08 million in FY24. For the period ending September 30, 2024, the company recorded a profit of ₹239.43 million.

Senores Pharmaceuticals IPO details

Senores Pharmaceuticals IPO is a book built issue of ₹582.11 crores. The issue is a combination of fresh issue of 1.28 crore shares aggregating to ₹500.00 crore and offer for sale of 0.21 crore shares aggregating to ₹82.11 crore.

The company intends to use the net proceeds to invest in its subsidiaries and pay some of its borrowings. Some parts of the net proceeds will be used for acquisitions, other strategic initiatives, and general corporate purposes.

Senores Pharma IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors.

Equirus Capital Private Limited, Ambit Private Limited, Nuvama Wealth Management Limited are the book running lead managers of the Senores Pharmaceuticals IPO, while Link Intime India Private Ltd is the registrar for the issue.