Senores Pharmaceuticals IPO: From price band, GMP, to lot size: 10 key things to know as issue opens on December 20 | Stock Market News

Senores Pharmaceuticals IPO: The initial public offering (IPO) of pharma company Senores Pharmaceuticals Ltd is set to hit Dalal Street on Friday, December 20. The company plans to raise a little over ₹582 crore from the primary markets.

Senores Pharmaceuticals is a manufacturer of a range of pharmaceutical products primarily for the regulated markets of the US, Canada, and the UK, while also serving emerging markets. The company has launched 55 products in key therapeutic areas, including antibiotics and anti-fungal treatments, as of September 30, 2024.

Senores Pharmaceuticals IPO is a mainboard IPO and the equity shares of the company will be listed on both the stock exchanges, BSE and NSE.

Here are 10 key things to know about Senores Pharmaceuticals IPO.

Senores Pharmaceuticals IPO: Key things to know

1] Senores Pharmaceuticals IPO Dates: Senores Pharmaceuticals IPO opens for public subscription on Friday, December 20, and closes on Tuesday, December 24.

2] Senores Pharmaceuticals IPO Price Band: Senores Pharmaceuticals IPO price band has ben set at ₹372 to ₹391 per share.

3] Senores Pharmaceuticals IPO Details: Senores Pharmaceuticals IPO size is ₹582.11 crore at the upper-end of the price band. The public issue is a combination of fresh issue of 1.28 crore equity shares worth ₹500 crore and an offer-for-sale (OFS) component of 21 lakh equity shares amounting to ₹82.11 crore.

4] Senores Pharmaceuticals IPO Lot Size: Senores Pharmaceuticals IPO lot size is 38 shares. The minimum investment amount required by retail investors is ₹14,858.

5] Senores Pharmaceuticals IPO OFS: Senores Pharmaceuticals’ promoters Swapnil Shah, Ashokkumar Barot, and Sangeeta Barot will sell 11 lakh equity shares in the offer-for-sale, and the remaining 10 lakh shares will be sold by other selling shareholder Prakash M Sanghvi.

6] Senores Pharmaceuticals IPO Objectives: The company proposes to utilise the net issue proceeds towards funding the investment in its subsidiaries, repayment / pre-payment, in full or in part, of its certain borrowings, funding the working capital requirements, and funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes.

7] Senores Pharmaceuticals IPO Reservation: Senores Pharma has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional investors (NII), and not more than 10% of the offer is reserved for retail investors.

8] Senores Pharmaceuticals IPO Allotment and Listing: Senores Pharmaceuticals IPO allotment is expected to be finalized on December 26, and the IPO listing date is likely December 30. Senores Pharmaceuticals shares will be listed on BSE and NSE.

9] Senores Pharmaceuticals IPO BRLM, Registrar: Equirus Capital, Ambit Private Limited, Nuvama Wealth Management are the book running lead managers of the Senores Pharmaceuticals IPO, while Link Intime India Private Ltd is the IPO registrar.

10] Senores Pharmaceuticals IPO GMP: Senores Pharmaceuticals shares are commanding a decent grey market premium (GMP) ahead of the issue opening. Senores Pharmaceuticals IPO GMP today is ₹150 per share. This indicates that Senores Pharmaceuticals shares are trading at ₹541 apiece in the grey market, a premium of 38.36% to the IPO price of ₹391 per share.

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