Zenith Drugs IPO is a book built issue of Rs 40.68 crores. The issue is entirely a fresh issue of 51.49 lakh shares.
Zenith Drugs IPO opens for subscription on February 19, 2024 and closes on February 22, 2024. The allotment for the Zenith Drugs IPO is expected to be finalized on Friday, February 23, 2024. Zenith Drugs IPO will list on NSE SME with tentative listing date fixed as Tuesday, February 27, 2024.
Zenith Drugs IPO price band is set at ₹75 to ₹79 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹126,400. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹252,800.
Gretex Corporate Services Limited is the book running lead manager of the Zenith Drugs IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Zenith Drugs IPO is Gretex Share Broking.
Refer to Zenith Drugs IPO RHP for detailed information.
Zenith Drugs IPO Details
| IPO Date | February 19, 2024 to February 22, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹75 to ₹79 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,148,800 shares (aggregating up to ₹40.68 Cr) |
| Fresh Issue | 5,148,800 shares (aggregating up to ₹40.68 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 12,000,000 |
| Share holding post issue | 17,148,800 |
| Market Maker portion | 852,800 shares Gretex Share Broking |
Zenith Drugs IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Zenith Drugs IPO Timeline (Tentative Schedule)
Zenith Drugs IPO opens on February 19, 2024, and closes on February 22, 2024.
| IPO Open Date | Monday, February 19, 2024 |
| IPO Close Date | Thursday, February 22, 2024 |
| Basis of Allotment | Friday, February 23, 2024 |
| Initiation of Refunds | Monday, February 26, 2024 |
| Credit of Shares to Demat | Monday, February 26, 2024 |
| Listing Date | Tuesday, February 27, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 22, 2024 |
Zenith Drugs IPO Lot Size
Investors can bid for a minimum of 1600 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 | 1600 | ₹126,400 |
| Retail (Max) | 1 | 1600 | ₹126,400 |
| HNI (Min) | 2 | 3,200 | ₹252,800 |
| Lot Size Calculator | |||
Zenith Drugs IPO Promoter Holding
The promoters of the company are Mr. Sandeep Bhardwaj, Mr. Bhupesh Soni and Mr. Ajay Singh Dassundi
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 69.98% |
About Zenith Drugs Limited
Incorporated in 2000, Zenith Drugs Limited is a pharmaceutical company specialising in manufacturing and trading high-quality, affordable medicines, including generic drugs.
The company adheres to WHO-GMP guidelines and has received the ISO 9001:2015 certification from a respected EuroUK certification body, demonstrating its commitment to quality.
The product portfolio of the company includes
- ORS Powder;
- Liquid Orals;
- Ointments;
- Liquid Externals; and
- Capsules
The Food & Drugs Administration has approved over 600 products, of which 325 are currently in production.
The company is in the process of setting up a new manufacturing facility in Village Muradpura, Depalpur, Indore, Madhya Pradesh.
The company supplies its products to countries such as Costa Rica in Central America and the Caribbean and Pacific regions, Malawi, Mauritius, Mozambique, Sudan, Tanzania, Bhutan , Cambodia in Southeast Asia, Tajikistan, Liberia, Sierra Leone, and Conakry.
Zenith Drugs Limited specializes in third-party manufacturing, also known as white label manufacturing, for esteemed pharmaceutical companies such as Ajanta Pharma, Bio Medical Laboratories, and Zest Pharma, among others.
There are currently 89 employees as of March 31, 2023 – 61 on payroll and 28 on contract.
Zenith Drugs Limited Financial Information (Restated Consolidated)
Zenith Drugs Limited’s revenue increased by 24.85% and profit after tax (PAT) rose by 64.7% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 11,249.04 | 9,793.83 | 6,858.47 |
| Revenue | 6,948.43 | 11,569.65 | 9,266.63 |
| Profit After Tax | 539.38 | 515.29 | 312.86 |
| Net Worth | 2,264.96 | 1,724.42 | 1,209.09 |
| Reserves and Surplus | 1,064.96 | 1,684.42 | 1,169.09 |
| Total Borrowing | 2,902.81 | 2,605.03 | 1,880.86 |
| Amount in ₹ Lakhs | |||
Key Performance Indicator
The market capitalization of Zenith Drugs IPO is Rs 135.48 Cr.
| KPI | Values |
|---|---|
| ROE | 35.13% |
| ROCE | 37.29% |
| Debt/Equity | 1.51 |
| RoNW | 29.88% |
| P/BV | 5.5 |
Check Zenith Drugs IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.29 | 6.29 |
| P/E (x) | 18.4 | 12.56 |
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, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.
Objects of the Issue (Zenith Drugs IPO Objectives)
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects
- Purchase of Machinery & Equipments for Setting up New Unit
- Existing Manufacturing Block Upgradation
- Working Capital Requirements
- General Corporate Purposes.
Zenith Drugs Limited Contact Details
Zenith Drugs Limited
K. No. 72 / 5, Village Muradpura
NA Depalpur,
Indore-453001
Phone: +91 8435501867
Email: info@zenithdrugs.com
Website: https://zenithdrugs.com/
Zenith Drugs IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html