Senores Pharmaceuticals IPO is a book built issue of Rs 582.11 crores. The issue is a combination of fresh issue of 1.28 crore shares aggregating to Rs 500.00 crores and offer for sale of 0.21 crore shares aggregating to Rs 82.11 crores.
Senores Pharmaceuticals IPO opens for subscription on December 20, 2024 and closes on December 24, 2024. The allotment for the Senores Pharmaceuticals IPO is expected to be finalized on Thursday, December 26, 2024. Senores Pharmaceuticals IPO will list on BSE, NSE with tentative listing date fixed as Monday, December 30, 2024.
Senores Pharmaceuticals IPO price band is set at ₹372 to ₹391 per share. The minimum lot size for an application is 38. The minimum amount of investment required by retail investors is ₹14,858. The minimum lot size investment for sNII is 14 lots (532 shares), amounting to ₹2,08,012, and for bNII, it is 68 lots (2,584 shares), amounting to ₹10,10,344.
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.
Refer to Senores Pharmaceuticals IPO RHP for detailed information.
Senores Pharmaceuticals IPO Details
| IPO Date | December 20, 2024 to December 24, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹372 to ₹391 per share |
| Lot Size | 38 Shares |
| Total Issue Size | 1,48,87,723 shares (aggregating up to ₹582.11 Cr) |
| Fresh Issue | 1,27,87,723 shares (aggregating up to ₹ 500.00 Cr) |
| Offer for Sale | 21,00,000 shares of ₹10 (aggregating up to ₹82.11 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 3,32,65,865 shares |
| Share Holding Post Issue | 4,60,53,588 shares |
Senores Pharmaceuticals IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Isssue |
Category Reservation Detail Table
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Up to Rs 2 Lakhs | Yes |
| Employee + RII/NII | Employee limit: Up to Rs 2 Lakhs (In certain cases, employees are given discount if bidding amount is upto Rs. 2 lakhs)If applying as RII: Upto Rs. 2 lakhsIf applying as NII: sNII > Rs. 2 lakhs and upto Rs. 10 lakhs and bNII > Rs. 10 lakhs | Yes for shareholder/RII |
Senores Pharmaceuticals IPO Timeline (Tentative Schedule)
Senores Pharmaceuticals IPO IPO opens on December 20, 2024, and closes on December 24, 2024.
| IPO Open Date | Friday, December 20, 2024 |
| IPO Close Date | Tuesday, December 24, 2024 |
| Basis of Allotment | Thursday, December 26, 2024 |
| Initiation of Refunds | Friday, December 27, 2024 |
| Credit of Shares to Demat | Friday, December 27, 2024 |
| Listing Date | Monday, December 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 24, 2024 |
Senores Pharmaceuticals IPO Lot Size
Investors can bid for a minimum of 38 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 38 | ₹14,858 |
| Retail (Max) | 13 | 494 | ₹1,93,154 |
| S-HNI (Min) | 14 | 532 | ₹2,08,012 |
| S-HNI (Max) | 67 | 2,546 | ₹9,95,486 |
| B-HNI (Min) | 68 | 2,584 | ₹10,10,344 |
| Lot Size Calculator | |||
Senores Pharmaceuticals IPO Promoter Holding
The promoters of the company are Swapnil Jatinbhai Shah and Ashokkumar Vijaysinh Barot.
| Share Holding Pre Issue | 71.10% |
| Share Holding Post Issue |
About Senores Pharmaceuticals Limited
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 Strength
- The 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
Company Financials
Senores Pharmaceuticals Limited Financial Information (Restated Consolidated)
Senores Pharmaceuticals Limited’s revenue increased by 457% and profit after tax (PAT) rose by 288% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 678.08 | 621.88 | 131.05 | 59.15 |
| Revenue | 183.35 | 217.34 | 39.02 | 14.63 |
| Profit After Tax | 23.94 | 32.71 | 8.43 | 0.99 |
| Net Worth | 319.06 | 231.71 | 45.5 | 36.59 |
| Reserves and Surplus | 263.36 | 175.94 | 35.25 | 25.37 |
| Total Borrowing | 242.03 | 248.38 | 60.76 | 14.21 |
Key Performance Indicator
The market capitalization of Senores Pharmaceuticals IPO is Rs 1350.70 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 23.60% |
| ROCE | 11.73% |
| Debt/Equity | 1.07 |
| RoNW | 23.60% |
| PAT Margin | 15.25 |
| Price to Book Value | 5.84 |
Check Senores Pharmaceuticals IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 9.83 | 13.86 |
| P/E (x) | 39.77 | 28.21 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2024 that is available in RHP.
Objects of the Issue (Senores Pharmaceuticals IPO Objectives)
The Company proposes to utilise the Net Proceeds towards funding the following objects:
- 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;
- Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company;
- Investment in the Subsidiary, namely, Havix, for re-payment/pre-payment in whole or part of certain borrowings availed by such Subsidiary;
- Funding the working capital requirements of the Company;
- Investment in the Subsidiaries, namely, Senores Pharmaceuticals Inc. (“SPI”)and Ratnatris Pharmaceutical Private Limited (“Ratnatris”), to fund their working capital requirements.
- Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes.
Sorry, we couldn’t find the subscription details. Note that the bidding starts at 10 AM and ends at 5 PM on the days when the public issue is open.
Senores Pharmaceuticals IPO Prospectus
Senores Pharmaceuticals Limited Contact Details
Senores Pharmaceuticals Limited
1101 to 1103, 11th floor,
South Tower, ONE 42 oppositeJayantilal Park,
Ambali Bopal Road, Ahmedabad,-380054
Phone: +91-79-29999857
Email: cs@senorespharma.com
Website: https://senorespharma.com/
Senores Pharmaceuticals IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: senorespharma.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html