Senores Pharmaceuticals IPO Price: ₹372 to ₹391 per share
IPO Dates: December 20, 2024 to December 24, 2024
About Senores Pharmaceuticals Limited
Incorporated in December 2017, Senores Pharmaceuticals Limited develops and manufactures a wide range of pharmaceutical products, primarily targeting regulated markets such as the US, Canada, and the UK. The company also extends its services to emerging markets worldwide.
Product Portfolio:
The company offers a variety of medicines, including Amphetamine Sulfate Tablets, Hydroxychloroquine Sulfate Tablets, Ketoconazole Tablets, Mexiletine Hydrochloride Capsules, Ketorolac Tromethamine Tablets, Morphine Sulfate Tablets, and Ivermectin Tablets. These products cater to various therapeutic areas, including antibiotics, antifungals, and critical care.
Key Milestones (as of September 30, 2024):
- Launched 55 pharmaceutical products in regulated markets.
- Operates in 43 countries across emerging markets, offering critical care injectables and APIs.
- Maintains partnerships with distributors and hospitals across several states in India.
R&D and Manufacturing:
- Three state-of-the-art R&D facilities located in India and the US.
- A US FDA-approved manufacturing facility in Ahmedabad, Gujarat.
Competitive Strengths
- Presence in Regulated Markets:
Products tailored for the US, UK, and Canada, with a US FDA-approved manufacturing setup. - Diverse Product Portfolio:
A comprehensive and differentiated range of pharmaceutical offerings developed within a short span. - Strategic Partnerships:
Long-term marketing agreements with leading pharmaceutical companies in regulated markets. - Emerging Market Focus:
Strong presence in emerging markets with specialized and complex product offerings. - Innovative R&D:
Robust R&D capabilities driving product innovation and differentiation. - Experienced Leadership:
A professional and skilled management team with extensive industry expertise.
Bidding Starts In
Senores Pharmaceuticals IPO Details
| IPO Date | December 20, 2024 to December 24, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹372 to ₹391 per share |
| Lot Size | 38 Shares |
| Total Issue Size | 1,48,87,723 shares (aggregating up to ₹582.11 Cr) |
| Fresh Issue | 1,27,87,723 shares (aggregating up to ₹ 500.00 Cr) |
| Offer for Sale | 21,00,000 shares of ₹10 (aggregating up to ₹82.11 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 3,32,65,865 shares |
| Share Holding Post Issue | 4,60,53,588 shares |
Senores Pharmaceuticals IPO Timeline (Tentative Schedule)
Senores Pharmaceuticals IPO IPO opens on December 20, 2024, and closes on December 24, 2024.
| IPO Open Date | Friday, December 20, 2024 |
| IPO Close Date | Tuesday, December 24, 2024 |
| Basis of Allotment | Thursday, December 26, 2024 |
| Initiation of Refunds | Friday, December 27, 2024 |
| Credit of Shares to Demat | Friday, December 27, 2024 |
| Listing Date | Monday, December 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 24, 2024 |
Senores Pharmaceuticals IPO Lot Size
Bidders have the opportunity to bid for a minimum of 35 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 38 | ₹14,858 |
| Retail (Max) | 13 | 494 | ₹1,93,154 |
| S-HNI (Min) | 14 | 532 | ₹2,08,012 |
| S-HNI (Max) | 67 | 2,546 | ₹9,95,486 |
| B-HNI (Min) | 68 | 2,584 | ₹10,10,344 |
Senores Pharmaceuticals IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Isssue |
Senores Pharmaceuticals Limited Financial Information (Restated Consolidated)
Senores Pharmaceuticals Limited’s revenue increased by 457% and profit after tax (PAT) rose by 288% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 678.08 | 621.88 | 131.05 | 59.15 |
| Revenue | 183.35 | 217.34 | 39.02 | 14.63 |
| Profit After Tax | 23.94 | 32.71 | 8.43 | 0.99 |
| Net Worth | 319.06 | 231.71 | 45.5 | 36.59 |
| Reserves and Surplus | 263.36 | 175.94 | 35.25 | 25.37 |
| Total Borrowing | 242.03 | 248.38 | 60.76 | 14.21 |
Key Performance Indicator
The market capitalization of Senores Pharmaceuticals IPO is Rs 1350.70 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 23.60% |
| ROCE | 11.73% |
| Debt/Equity | 1.07 |
| RoNW | 23.60% |
| PAT Margin | 15.25 |
| Price to Book Value | 5.84 |
Objectives of the Senores Pharmaceuticals IPO
The company plans to utilize the net proceeds from the IPO for the following purposes:
- Investment in Havix Group, Inc. (Aavis Pharmaceuticals):
- To fund capital expenditure for establishing a sterile injection manufacturing facility at the Atlanta Facility.
- Repayment or Prepayment of Borrowings:
- To repay or prepay, either in full or partially, certain loans availed by the company.
- Subsidiary Debt Repayment:
- Investment in Havix for the repayment or prepayment of borrowings availed by the subsidiary.
- Working Capital Requirements:
- To fund the working capital needs of the company.
- Support for Subsidiaries:
- Investment in subsidiaries, namely Senores Pharmaceuticals Inc. (SPI) and Ratnatris Pharmaceutical Private Limited (Ratnatris), to support their working capital requirements.
- Inorganic Growth and Strategic Initiatives:
- Funding acquisitions, other strategic initiatives, and general corporate purposes.
Senores Pharmaceuticals IPO Prospectus
