The initial public offering (IPO) of Senores Pharmaceuticals Ltd. is scheduled to begin this Friday, December 20.
An offer-for-sale (OFS) of 21 lakh shares and a new issuance of shares valued at Rs 500 crore make up Senores Pharmaceuticals' 100 per cent book-built IPO.
IPO size and structure
The company wants to sell its first shares in order to raise up to Rs 581.11 crore.
The Qualified Institutional Buyers (QIBs) will receive 75 per cent of the offer size, according to the company. The business will give retail investors 10 per cent of the shares and non-institutional investors 15 per cent.
Price band and minimum bid
The price range for the IPO has been set at Rs 372 to Rs 391 per share. 38 shares and their multiples are the minimum bid quantity for retail investors. The minimum lot size for retail investors is 38 shares, which adds up to Rs 14,858.
Subscription and listing date
Subscriptions for Senores Pharmaceuticals' initial public offering (IPO) will open on December 20, 2024, and close on December 24, 2024. On Thursday, December 26, 2024, the allocation for the Senores Pharmaceuticals IPO is anticipated to be finalised.
The tentative listing date for Senores Pharmaceuticals' initial public offering (IPO) is set for Monday, December 30, 2024, on the BSE and NSE.
Registrar and book running lead manager
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.
Company financials
On the financial front, Senores Pharma's revenue from operations increased multifold to Rs 214.52 crore in fiscal 2024 from Rs 35.34 crore a year ago and profit after tax climbed to Rs 32.71 crore from Rs 8.43 crore.
Use of IPO proceedings
The company proposes to utilise the net proceeds from the IPO in one of its subsidiaries, Havix Group Inc. to fund capital expenditure requirements for setting up a manufacturing facility for the production of sterile injections in its Atlanta facility. A portion of the funds will also be used for repayment or prepayment of loans by its subsidiary.