Senores Pharmaceuticals is a promising player in the global pharmaceutical industry, focusing on developing niche, complex, and specialty products. As the company prepares for its ₹582.11 Crore IPO, investors are keenly watching the offering, which includes a Fresh Issue of 127.87 Lakh Shares worth ₹500 Crores and an Offer for Sale of 21 Lakh Shares totaling ₹82.11 Crores. The Senores Pharmaceuticals IPO will open for subscription on December 20, 2024, and close on December 24, 2024, with a tentative listing date on December 30, 2024. This article breaks down everything you need to know about the IPO, including its price band of ₹372 to ₹391 per share, the market capitalization of ₹1,800.69 Crores at the upper price band, and the lot size of 38 shares.

IPO Performance and Subscription Details

The Senores Pharmaceuticals IPO has attracted significant attention, and as of December 24, 2024, the offering was subscribed 93.69 times on its final day of subscription. This shows a strong investor interest, and with the Grey Market Premium (GMP) hovering at ₹176, the IPO has the potential for strong listing gains. The GMP trend has seen consistent growth, indicating positive sentiment around the listing. Here is a quick look at the IPO GMP trend:

• December 23, 2024: GMP ₹176 (45.01%)
• December 22, 2024: GMP ₹156 (39.95%)
• December 21, 2024: GMP ₹156 (39.95%)
• December 19, 2024: GMP ₹106 (27.15%)

The GMP is often used as an indicator of how much the stock is expected to list at compared to its issue price. The figures show that the Senores Pharmaceuticals IPO has strong potential for listing gains, especially for investors looking to capitalize on short-term gains post-listing.

Senores Pharmaceuticals IPO Objectives and Utilization of Funds

The funds raised from the IPO will be utilized for various key objectives, which include:

1. Investment in Havix Group: A significant portion of the proceeds, ₹1,070 Million, will go towards expanding the manufacturing facility for sterile injections in Atlanta.
2. Repayment of Borrowings: The company plans to allocate ₹734.80 Million for the repayment of some of its borrowings, both at the company and subsidiary level.
3. Working Capital and Growth: The remaining funds will support the company’s working capital requirements and investments in subsidiaries such as Senores Pharmaceuticals Inc. and Ratnatris Pharmaceutical Private Limited.

The company aims to use the proceeds to fuel both organic and inorganic growth. The focus on niche and complex pharmaceuticals positions Senores Pharmaceuticals well for future growth, especially in regulated markets like the US, Canada, and the UK.

Key Metrics and Financial Performance

Senores Pharmaceuticals has shown a steady growth trajectory. The company's revenue from operations for the period ending September 30, 2024, stood at ₹1,833.53 Million, which represents a solid increase compared to the previous fiscal years. The EBITDA for the same period was ₹469.08 Million, while the Profit After Tax (PAT) was ₹239.43 Million, further highlighting its financial health.

The pre-issue EPS stands at ₹12.21, and the post-issue EPS will be ₹7.10 for FY24. The P/E ratio for the company is 32.02x, while the industry average is 39x, suggesting the IPO is priced reasonably based on its earnings and market prospects.

How to Check IPO Allotment Status

For investors eagerly awaiting the Senores Pharmaceuticals IPO allotment, the date for finalizing allotments is set for December 26, 2024. To check your status, simply visit the registrar's website, select the Senores Pharmaceuticals IPO, and enter your application number, PAN, or DP Client ID. This is a straightforward process that allows investors to track their allotment quickly.

Conclusion

With a strong market position, promising financial growth, and a solid investment plan, Senores Pharmaceuticals is poised for success in the coming years. The IPO has generated significant interest, and given the current GMP trends, it’s likely to offer attractive listing gains. Investors seeking to apply can follow the steps for allotment status and review the Senores Pharmaceuticals IPO GMP for further insights.

The Upcoming IPOs in this week and coming weeks are Indo Farm, Technichem Organics, Leo Dry Fruits, Solar91 Cleantech, Rosmerta Digital and Avanse Financial.

The Current active IPO is Citichem India and Anya Polytech.

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