IPO Issue Details
Issue Price / Price Band₹391 per share (Fixed Price)
Face Value₹10 Per Share
Lot Size38 Shares per Lot
Total Issue Size1,48,87,723 shares (aggregating up to ₹582.11 Cr)
Issue TypeBookbuilding IPO
Sale Type / CategoryFresh Capital-cum-Offer for Sale
Exchange / PlatformNSE & BSE
IPO TypeMainboard
Subscription OpenFri, 20 Dec 2024
Subscription CloseTue, 24 Dec 2024
Anchor AllotmentThu, 19 Dec 2024
Basis of AllotmentThu, 26 Dec 2024
Initiation of RefundsFri, 27 Dec 2024
Credit of Shares to DematFri, 27 Dec 2024
Listing DateMon, 30 Dec 2024
UPI Mandate Deadline2024-12-24
Application & Investment Details
Retail — Min (1 Lots)₹14,858 — 38 shares
Retail — Max (13 Lots)₹193,154 (13 Lots)
HNI — Min (14 Lots)₹2,08,012 — 532 shares
EPS (Pre-IPO)₹9.83
EPS (Post-IPO)₹13.86
P/E Ratio (Pre-IPO)39.77x
P/E Ratio (Post-IPO)28.21x
Pre-IPO Promoter Holding3,32,65,865 shares
Post-IPO Promoter Holding4,60,53,588 shares
Fresh Issue Shares1,27,87,723 shares (aggregating up to ₹500.00 Cr)
Offer for Sale Shares21,00,000 shares of ₹10 (aggregating up to ₹82.11 Cr)
About Senores Pharmaceuticals Ltd.
Incorporated in December 2017, Senores Pharmaceuticals Limited develops and manufactures a range of pharmaceutical products primarily for the regulated markets of the US, Canada, and the UK, while also serving emerging markets.The company's product portfolio consists of Amphetamine Sulfate Tablets, Hydroxychloroquine Sulfate Tablets, Ketoconazole Tablets, Butalbital, Acetaminophen and Caffeine Capsules, Mexiletine Hydrochloride Capsules, Ketorolac Tromethamine Tablets, Diclofenac Potassium Tablets, Diclofenac Potassium Tablets, Nicardipine Hydrochloride Capsules, Escitalopram Tablets, Prochlorperazine Maleate Tablets USP, Terazosin Capsules USP, Morphine Sulfate Tablets, Methadone Hydrochloride Tablets, Cyclobenzaprine Hydrochloride Tablets, Irbesartan Tablets, Risperidone Tablets Topiramate Capsules, and Ivermectin Tablets for regulated markets.As of September 30, 2024, the company has launched 55 products in key therapeutic areas, including antibiotics and anti-fungal treatments. They have established partnerships with distributors and hospitals across several states in India.As of September 30, 2024, the company operates three dedicated R&D facilities in India and the US.The company operates in Emerging Markets across 43 countries and manufactures critical care injectables and APIs.The company's manufacturing unit is situated in Ahmedabad, Gujrat.Competitive StrengthThe company serves the US, Canada, and the UK regulated markets with its US FDA-approved manufacturing facility.A unique product portfolio tailored for regulated markets developed in a brief period.Long-term marketing agreements with pharmaceutical companies in the US, Canada, and the United Kingdom regulated markets.Presence in the Emerging Markets with a product portfolio, including speciality or complex products.Robust R&D capabilities driving our differentiated portfolio of products.Experieced Management Team
Objects of the Issue
Senores Pharmaceuticals Ltd. proposes to utilise the net proceeds from the Issue for the following objects:
1
Investment in one of the Subsidiaries, Havix Group, Inc. d/b/aAavis Pharmaceuticals(“Havix”), to fund capital expenditure requirements for setting up a manufacturing facility for the production of sterile injections in the Atlanta Facility;
2
Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company;
3
Investment in the Subsidiary, namely, Havix, for re-payment/pre-payment in whole or part of certain borrowings availed by such Subsidiary;
4
Funding the working capital requirements of the Company;
5
Investment in the Subsidiaries, namely, Senores Pharmaceuticals Inc. (“SPI”)and Ratnatris Pharmaceutical Private Limited (“Ratnatris”), to fund their working capital requirements.
6
Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes.
Shareholding & Lock-in
Pre-IPO Promoter Holding
3,32,65,865 shares
Post-IPO Promoter Holding
4,60,53,588 shares
Lock-in Period (30%)January 24, 2025
Lock-in Period (50%)March 25, 2025