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Senores Pharmaceuticals IPO subscribed 1.78 times on Day 1. Check GMP and other details
Team Finance Saathi
21/Dec/2024
What's covered under the Article:
- Key metrics for Senores Pharmaceuticals IPO including price, GMP, and subscription status.
- Step-by-step guide to checking IPO allotment status.
- In-depth financial analysis and valuation of Senores Pharmaceuticals IPO.
Senores Pharmaceuticals, a leading pharmaceutical company, is set to make its mark in the global healthcare sector. The company is committed to developing niche, complex, and specialty pharmaceutical products that meet the highest international standards. With a focus on innovation, Senores Pharmaceuticals aims to cater to the evolving demands of the global market.
The Senores Pharmaceuticals IPO offers a total of ₹582.11 Crores, 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 subscription period for the IPO is from December 20, 2024, to December 24, 2024, with the allotment expected to be finalized by December 26, 2024. Shares will be listed on BSE and NSE, with the tentative listing date set for December 30, 2024.
IPO Price Band and Market Capitalization
The price band for the Senores Pharmaceuticals IPO is set at ₹372 to ₹391 per share. At the upper price band of ₹391, the market capitalization of Senores Pharmaceuticals is expected to be ₹1,800.69 Crores. The lot size for the IPO is 38 shares, requiring retail investors to invest a minimum of ₹14,858. High-Net-Worth Individuals (HNIs) must apply for a minimum of 14 lots (532 shares), totaling ₹208,012.
Senores Pharmaceuticals IPO Subscription Status
As of December 20, 2024, the Senores Pharmaceuticals IPO has been subscribed 1.78 times on the first day, indicating strong demand for the issue. The remaining subscription period will provide further insight into the level of interest from investors.
Grey Market Premium (GMP) and Expected Listing Price
The Grey Market Premium (GMP) for the Senores Pharmaceuticals IPO stands at ₹106, indicating a potential 27.15% listing gain. The expected listing price is ₹497, reflecting a substantial premium over the issue price, suggesting strong market demand upon listing.
Senores Pharmaceuticals IPO Anchor Investors Report
The company has raised ₹260.63 Crores from Anchor Investors, who have subscribed to 66,65,725 equity shares at the price of ₹391 per share. This indicates strong institutional backing, signaling confidence in the company's growth prospects.
Senores Pharmaceuticals IPO Allotment Process
The IPO allotment date is December 26, 2024, and the status will be available on the Registrar’s website. Here’s how to check the allotment status:
- Visit the IPO allotment status page.
- Select Senores Pharmaceuticals IPO from the dropdown.
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check the status.
Objectives of the Senores Pharmaceuticals IPO
The Net Proceeds from the IPO will be utilized for:
- Investment in Havix Group, Inc., to fund the setup of a sterile injection manufacturing facility in Atlanta.
- Repayment of borrowings for both the Company and its subsidiaries.
- Funding working capital requirements for the Company and its subsidiaries.
- Supporting inorganic growth through acquisitions and strategic initiatives.
Financial Performance and Valuation Metrics
For the period ending September 30, 2024, Senores Pharmaceuticals reported:
- Revenues: ₹1,833.53 million
- EBITDA: ₹469.08 million
- Profit after Tax (PAT): ₹239.43 million
For fiscal years 2024, 2023, and 2022, the company has seen substantial growth in revenues, EBITDA, and PAT. The Pre-issue EPS stands at ₹12.21, while the Post-issue EPS is expected to be ₹7.10. The P/E ratio at the pre-issue price is 32.02x, while the post-issue P/E ratio is 55.05x, which is higher than the industry P/E ratio of 39x, indicating that the IPO is fully priced.
IPO Review and Recommendation
Senores Pharmaceuticals is an emerging player in the global healthcare market, focused on developing specialized pharmaceutical products. The company has shown strong financial growth, backed by a promising pipeline of products and substantial investments in its subsidiaries.
Despite a high post-issue P/E ratio, the strong GMP and institutional interest indicate potential listing gains. Based on the current financial performance and market demand, we recommend applying to the Senores Pharmaceuticals IPO for listing gains.