Senores Pharmaceuticals IPO: Issue subscribed 93 times on last day; here’s how to check allotment status

Senores Pharmaceuticals IPO continued to see a strong demand from investors across categories on the last day of subscription on Tuesday, December 24.

The ₹582.11-crore Senores Pharmaceuticals IPO, which opened for subscription on December 20, was oversubscribed over 68 times, driven by retail investors.

The mainboard issue received bids for over 79.72 crore shares against 85.34 lakh shares on offer, leading to an overall subscription of 93.41 times at the end of bidding on the last day, as per the NSE data.

The retail investors’ portion was overbooked 89.21 times. Bids were received for over 13.79 crore crore shares against 15.46 lakh shares reserved for the category.

The non-institutional investors’ (NIIs) segment was booked 96.11 times with bids for over 22.29 crore against 23.2 lakh shares on offer. The Qualified Institutional Buyers’ (QIBs) category was booked 94.66 times, with applications for over 43.47 crore shares against 45.93 lakh shares reserved for the segment.

The employees of the company booked their quota 19.92 times against the allocation of 75,000 shares.

If you were one of the investors in this IPO issue, you could check the share allotment status online on the NSE or BSE website or at the web portal of the issue’s registrar, Link Intime India Pvt. Ltd.

• Visit the NSE IPO allotment status page at: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Log in with your username and password. First-time investors need to register on the NSE website. Using the PAN and application number, users can check the IPO allotment status.
• From the dropdown menu, select Senores Pharmaceuticals as the issue name.
• Then verify PAN details and enter the IPO application number.
• Click on ‘Submit’ and you can view the share allocation details.

• Visit the issue registrar’s official page at https://www.linkintime.co.in/ or click here.
• Click on the ‘Public Issues’ section on the home page.
• Under the ‘Please Select Company’ option, choose ‘Senores Pharmaceuticals Ltd’ from the dropdown menu.
• After you select the company’s name, you can enter either your PAN details, your IPO application number, your Demat account Number (DP ID/Client ID) or your account number/IFSC code as a part of the customer identification process.
• Click on the ‘Submit’ button.

Successful bidders can expect the shares to be credited into their demat account by December 27, and refunds for others will be initiated the same day. Senores Pharmaceuticals shares are scheduled to be listed on both the BSE and NSE on December 30.

Senores Pharmaceuticals IPO details

• Senores Pharmaceuticals IPO is a 100% book-built issue aimed at raising ₹582.11 crore.
• The IPO is a combination of fresh issuance of 1.28 crore shares (aggregating to ₹500 crore) and an offer-for-sale (OFS) of 21 lakh shares, worth ₹82.11 crore.
• The price band for the offer was fixed at ₹372 to ₹391 per share. The lot size for bidding was 38 shares.
• The company has appointed Equirus Capital Pvt. Ltd, Ambit Pvt. Ltd and Nuvama Wealth Management Ltd as the book-running lead managers of the issues.

About Senores Pharmaceuticals

Senores Pharmaceuticals Ltd manufactures pharmaceutical products primarily for the regulated markets of the US, Canada, and the UK. As of September 2024, the company has launched 55 products in key therapeutic areas, including antibiotics and anti-fungal treatments. It has also established partnerships with distributors and hospitals across several states in India.

What will the company do with IPO proceeds?

The company proposes to utilise the net proceeds from the fresh issuance of shares for investment in one of its subsidiaries Havix Group to fund capital expenditure requirements for setting up a manufacturing facility for the production of sterile injections in the Atlanta Facility and for repayment/prepayment, in full or in part, of certain borrowings availed by the subsidiary.

A portion of the funds will also be invested in the subsidiaries—Senores Pharmaceuticals Inc. and Ratnatris Pharmaceutical Pvt. Ltd—to fund their working capital requirements.

Senores Pharmaceuticals IPO: Key financials

In the current financial year 2024-25, Senores Pharmaceuticals has reported revenue of ₹185.35 crore for the six-month period ended September 30, 2024. Profit after tax for the period was ₹23.94 crore.

For full fiscal 2023-24, the company’s revenue was ₹217.34 crore compared to ₹39.02 crore in 2022-23. Profit after tax for FY24 was ₹32.71 crore against ₹8.43 crore in FY23.

Senores Pharmaceuticals IPO shareholding

The promoters of Senores Pharmaceuticals are Swapnil Jatinbhai Shah and Ashokkumar Vijaysinh Barot.