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Senores Pharmaceuticals IPO to Open on December 20

Author Published on: December 17, 2024 at 3:26 PM UTC
Senores Pharmaceuticals IPO opens from December 20 to December 24, 2024, featuring a fresh issue aggregating up to ₹50 crore.
Senores Pharmaceuticals IPO to Open on December 20
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Senores Pharmaceuticals Limited is gearing up for its Initial Public Offering (IPO), set to open for subscription from December 20 to December 24, 2024. With a combination of a fresh issue worth ₹50 crore and an offer for sale of 0.21 crore shares, the IPO aims to attract investors while enabling the company to expand its business operations.

Key Details of Senores Pharmaceuticals IPO

The IPO, structured as a book-built issue, will be listed on both the BSE and NSE, with the tentative listing date set for December 30, 2024. While the price band for the IPO is yet to be announced, the allotment of shares is expected to be finalised on December 26, 2024.

 

Equirus Capital Private Limited, Ambit Private Limited, and Nuvama Wealth Management Limited are acting as the book-running lead managers, with Link Intime India Private Ltd serving as the registrar. The IPO is designed to reserve at least 75% of shares for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors.

About Senores Pharmaceuticals and Its Market Presence

Established in December 2017, Senores Pharmaceuticals Limited focuses on developing and manufacturing pharmaceutical products for regulated markets like the US, Canada, and the UK. The company’s extensive product portfolio includes a range of tablets, capsules, and specialised medicines catering to various therapeutic needs.

Promoted by Swapnil Jatinbhai Shah and Ashokkumar Vijaysinh Barot, the company held a 71.10% pre-issue shareholding. Post-IPO, this is expected to adjust as the company raises funds to strengthen its presence in emerging markets and regulated territories.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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