Senores Pharmaceuticals made a stellar debut on the stock markets on December 30, 2024, with its shares listing at ₹600 on the NSE, reflecting a 53% premium over its IPO price of ₹391. On the BSE, the shares debuted slightly lower but still impressive at ₹593.70, a 51.8% premium.

This robust listing highlights the strong demand for the IPO, driven by investor confidence in the company's fundamentals and growth prospects in the regulated pharmaceutical markets of the US, Canada, and the UK.

IPO Subscription and Grey Market Premium

Senores Pharmaceuticals' IPO, which opened on December 20, 2024, and closed on December 24, 2024, received an overwhelming response, with an overall subscription of 97.86 times:

• Retail Category: 93.16 times
• Qualified Institutional Buyers (QIB): 97.84 times
• Non-Institutional Investors (NII): 100.35 times

The IPO price band was set at ₹372 to ₹391 per share, and the issue size was ₹582.11 crore, consisting of:

• Fresh Issue: 1.28 crore shares worth ₹500 crore
• Offer for Sale (OFS): 0.21 crore shares aggregating ₹82.11 crore

The grey market premium (GMP) leading up to the listing stood at ₹284, indicating strong listing gains. Market participants anticipated the stock to list at around ₹675, representing potential gains of 72.63% over the IPO price.

Company Overview

Founded in December 2017, Senores Pharmaceuticals is a pharmaceutical company specializing in regulated markets, including the United States, Canada, and the UK. It also serves several emerging nations.

The company’s product portfolio includes a wide range of pharmaceutical formulations such as:

• Amphetamine Sulfate Tablets
• Hydroxychloroquine Sulfate Tablets
• Morphine Sulfate Tablets
• Ketoconazole Tablets
• Escitalopram Tablets
• Risperidone Tablets
• Ivermectin Tablets

These products cater to a variety of therapeutic areas, ensuring a diversified revenue stream.

Market Performance

At 10.46 am, the shares of Senores Pharmaceuticals were trading steadily above their IPO price, reflecting strong investor confidence.

• NSE Listing Price: ₹600
• BSE Listing Price: ₹593.70

Trading volumes also showcased high activity, as the company continued to attract investor attention.

Analysis of Listing Gains

The successful debut of Senores Pharmaceuticals can be attributed to:

1. Strong Fundamentals:

   • Focused operations in regulated markets.
   • Diverse product portfolio catering to global and emerging markets.

2. Overwhelming IPO Subscription:

   • Retail and institutional investors demonstrated significant interest, with subscription levels exceeding expectations.

3. Market Anticipation:

   • The GMP of ₹284 and expectations of a high listing price created a positive buzz.

4. Robust Pharmaceutical Demand:

   • The pharmaceutical sector remains a lucrative space, driven by global healthcare needs and increased spending.

Future Outlook

With its impressive debut, Senores Pharmaceuticals is well-positioned to leverage its expertise in regulated markets to drive growth. Investors will now focus on the company’s ability to:

• Scale its operations and expand its product portfolio.
• Sustain profitability, given the challenges in the highly competitive pharmaceutical sector.

The company’s first public offering has set the stage for future growth, with market participants optimistic about its long-term prospects.

Conclusion

Senores Pharmaceuticals' IPO has proven to be one of the most successful offerings of 2024, reflecting strong investor confidence in the company’s growth potential. The stellar 53% premium listing not only rewarded IPO subscribers but also underscored the resilience of the pharmaceutical sector amid broader market volatility. Investors will now monitor the company’s performance to assess whether it can sustain this momentum in the coming quarters.


The Upcoming IPOs in this week and coming weeks are Indo Farm, Technichem Organics, Leo Dry Fruits, Davin Sons, Fabtech Technologies and Standard Glass Lining. The Current active IPO is Citichem India and Anya Polytech.