Senores Pharmaceuticals

Senores Pharmaceuticals is all set to launch its Initial Public Offering (IPO), which will open for bidding on Friday, December 20, and close for subscription on Tuesday, December 24. The company is offering its shares at a price range of Rs 372 to Rs 391 per share. Investors can apply for a minimum of 38 equity shares, with additional shares available in multiples thereafter. This IPO presents an exciting opportunity for investors looking to be part of the growing pharmaceutical sector.

IPO opens on December 20, Founded in December 2017, Senores Pharmaceuticals, based in Ahmedabad, is a leading developer and manufacturer of a wide range of pharmaceutical products. The company primarily targets regulated markets such as the US, Canada, and the UK, while also expanding its presence in emerging markets. With three dedicated research and development facilities in India and the US, they is committed to innovation and high-quality production.

The IPO of Senores comprises a fresh share issue of Rs 500 crore, alongside an offer-for-sale (OFS) of up to 21,00,000 equity shares by its promoters and existing shareholders. At the upper end of the price range, the company aims to raise a total of Rs 582.11 crore. The anchor book for the issue will open for bidding on Thursday, December 19.

The proceeds from the fresh issue will be utilized for several key purposes, including investment in subsidiaries, repayment of certain borrowings for both the company and its subsidiaries, funding working capital needs, supporting inorganic growth through acquisitions and strategic initiatives, and for general corporate purposes.

Senores Pharma IPO opens on December 20

As of September 30, 2024, launched 55 products in key therapeutic areas, including antibiotics and antifungal treatments. The company operates in 43 emerging markets and has established partnerships with distributors and hospitals across India. It manufactures critical care injectables and APIs.

For its IPO, has reserved 75% of the net offer for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 10% for retail investors.

For the six months ending September 30, 2024, the company reported a net profit of Rs 23.94 crore on revenue of Rs 183.35 crore. For FY 2023-24, the company’s profit stood at Rs 32.71 crore, with a revenue of Rs 217.34 crore.

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