Senores Pharma IPO: GMP, subscription status to review. Apply or not as the issue gets fully booked on day one? | Stock Market News
Source: Live Mint
Senores Pharma IPO: Bidding for the initial public offering (IPO) of Senores Pharma Limited began on 20th December 2024 and will remain until 5:00 PM on 24 December 2024. So, applicants have two days to apply for the Senores Pharma IPO as the public issue closes on Tuesday next week. According to Senores Pharma IPO subscription status, the public issue got fully subscribed on day one of bidding and received bids that were 1.78 times the offer. Meanwhile, the grey market continues to signal positive sentiments regarding Senores Pharma’s IPO. According to stock market observers, shares of the company are available at a premium of ₹191 in the grey market today.
Senores Pharma IPO GMP today
As mentioned, Senores Pharma IPO GMP (Grey Market Premium) today is ₹191, which is ₹41 higher than Friday’s GMP of ₹150. They said that Senores Pharma’s IPO GMP today is higher than the previous day’s GMP despite the stock market crash on Friday, which is a good sign. If there is a trend reversal next week, these strong grey market sentiments may increase investor response.
On what this Senores Pharma IPO GMP means, market observers said that Senores Pharma’s IPO price band is ₹372 to ₹381. In contrast, Senores Pharma IPO GMP today is ₹191. So, after day one of bidding, the grey market signals that lucky allottees may get around 49 per cent return on their money.
Senores Pharma IPO subscription status
After one day of bidding, the public issue had been booked 1.78 times, the retail portion of the book build issue had been subscribed 7.20 times, the NII segment had been filled 1.67 times, and the QIB portion had been subscribed 0.01 times.
Senores Pharma IPO review
Assigning a ”buy” tag to Senores Pharma IPO, Prathamesh Masdekar, Research Analyst at StoxBox, said, “Senores Pharmaceuticals is a global research-driven pharmaceutical company engaged in developing and manufacturing a wide range of pharmaceutical products predominantly for the regulated markets across various therapeutic areas and dosage forms, with a presence in emerging markets. The issue is valued at a P/E of 32.0x on the upper price band based on FY24 earnings, which is deemed fair. Therefore, we recommend a SUBSCRIBE rating for the issue.”
Giving a ”subscribe” tag to the public issue, Anand Rathi’s report says, “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 presence in 43 countries focuses on critical care injectables, APIs, and complex speciality pharmaceutical products. At the upper price band, the company is valued at a P/E of 55x with a market cap of ₹18,006 million post-issue of equity shares and a return on net worth of 23.6% based on FY24. On the valuation front, we believe that the company is fairly priced. Therefore, we recommend a “Subscribe” rating to the IPO.”
Besides, Aditya Birla, BP Equities, Canara Bank Securities, SBI Capital Securities, and Ventura Securities have also assigned a ”subscribe” tag to the book build issue.
Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.
