The issue opened for bidding on 20 December 2024 and it will close on 24 December 2024. The price band of the IPO is fixed between Rs 372 and 391 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof.
The IPO comprises a fresh issue of equity shares worth up to Rs 500 crore and an offer for sale of 21 lakh equity shares aggregating up to Rs 82.11 crore.
The objectives of the fresh issue include Rs 107 crore for investment in Havix to set up a sterile injection manufacturing facility, Rs 93.7 crore for debt repayment, Rs 43.25 crore for working capital, Rs 59.48 crore for investment in subsidiaries SPI and Ratnatris, and the remaining amount for general corporate purposes.
The promoters and promoter group hold an aggregate of 2,21,76,079 equity shares, aggregating to 66.67% of the pre-offer issued and paid-up equity share capital. Their post-IPO shareholding is expected to be around 45.76%.
Ahead of the IPO, Senores Pharmaceuticals on Thursday, 19 December 2024, raised Rs 260.62 crore from anchor investors. The board allotted 66.65 lakh shares at Rs 391 each to 20 anchor investors.
Senores Pharmaceuticals is engaged in developing and manufacturing a wide range of pharmaceutical products predominantly for the regulated markets of the US, Canada, and the United Kingdom across various therapeutic areas and dosage forms, with a presence in emerging markets.
The company identifies and develops a diverse range of specialty, underpenetrated, and complex pharmaceutical products and manufactures critical care injectables and APIs. As of September 30, 2024, the company has launched 55 products in key therapeutic areas, including antibiotics and anti-fungal treatments.
The firm reported a consolidated net profit of Rs 23.94 crore and sales of Rs 181.02 crore for the six months ended on 30 September 2024.
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