Senores Pharmaceuticals Ltd on Wednesday said it has fixed a price band of Rs 372-391 per share for its Rs 582-crore initial public offering (IPO) that opens for subscription on December 20. The initial share-sale will conclude on December 24, the company announced. The Ahmedabad-based company's IPO is a combination of fresh issuance of shares worth Rs 500 crore and an offer for sale (OFS) of up to 21 lakh shares valued Rs 82.11 crore, by promoters and other selling shareholders, at the upper end of the price band. The public issue includes a reservation of 75,000 shares for employees. Proceeds from the fresh issue will be utilized for setting up a manufacturing facility for production of sterile injections in its Atlanta facility; funding the working capital requirements of the company and its subsidiaries, supporting inorganic growth through acquisition and other strategic initiatives and payment of debt. Besides, a portion will be used for general corporate purposes. The compan