Senores Pharmaceuticals IPO 2024 is a promising investment opportunity in the pharmaceutical sector, especially for those interested in the global healthcare market. The company is focused on niche, complex, and specialty pharmaceutical products and has a strong presence in the regulated markets of the US, UK, and Canada. Senores Pharmaceuticals is committed to innovation and high international quality standards, which positions it well in the competitive pharmaceutical space.

The IPO offers a total issue size of ₹582.11 Crores, consisting of a Fresh Issue of ₹500 Crores and an Offer for Sale (OFS) of ₹82.11 Crores. The price band is set between ₹372 to ₹391 per share, with a market capitalization of ₹1,800.69 Crores at the upper price band. The lot size for this IPO is 38 shares, with a minimum investment of ₹14,858 for retail investors, and a minimum investment for High-Net-Worth Individuals (HNIs) is ₹208,012 (14 lots). The IPO subscription will close on December 24, 2024, and the allotment date is expected on December 26, 2024. The listing date is tentatively set for December 30, 2024.

IPO Subscription Status and GMP Insights

As of December 24, 2024, the Senores Pharmaceuticals IPO has been oversubscribed 19.36 times, indicating strong demand for shares. The Grey Market Premium (GMP) stands at ₹176, suggesting a potential listing gain of 45.01%, with an expected listing price of ₹567.

Financials and Key Metrics

Senores Pharmaceuticals has demonstrated steady growth, with revenues of ₹1,833.53 Million for the period ending September 30, 2024, and a Profit After Tax (PAT) of ₹239.43 Million for the same period. The EBITDA for FY24 is ₹469.08 Million, showing robust profitability. The company's pre-issue P/E ratio is 32.02x, which is relatively in line with the industry average of 39x, but the post-issue P/E ratio rises to 55.05x.

With a Return on Equity (ROE) of 23.60%, Senores Pharmaceuticals showcases strong financial health, making it an attractive option for long-term investors.

IPO Objectives and Use of Proceeds

The proceeds from this IPO will be used for the following purposes:

1. Investment in Havix Group, Inc. to fund capital expenditure for a manufacturing facility in Atlanta.
2. Repayment of borrowings for the company and its subsidiaries.
3. Funding working capital needs for the company and its subsidiaries.

Recommendations for Investors

Given the strong financial performance and the positive GMP trend, we recommend investors to consider applying for the Senores Pharmaceuticals IPO. The strong demand in the grey market indicates that investors can expect potential listing gains on the BSE and NSE. However, the P/E ratio should be considered by potential investors, as it indicates that the IPO may be priced at a premium.

The Upcoming IPOs in this week and coming weeks are Anya Polytech, Citichem India, Solar91 Cleantech, Rosmerta Digital, Indo Farm, and Avanse Financial. The Current active IPO is Unimech Aerospace, Ventive Hospitality, Senores Pharmaceuticals, Carraro India.
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