Senores Pharmaceuticals IPO fully subscribed within hours on opening day; check price band, lot size and key dates

Senores Pharmaceuticals IPO has received a strong response from investors, as the initial public offer was fully-subscribed within hours on opening day. Till 1:55 pm, it was booked 1.01 times.

According to the consolidated data on the NSE website, the initial share sale received bids for 86,41,390 shares against 85,34,681 equity shares on offer.

Retail investors oversubscribed 4.32 times, as they placed bids for 66,80,058 shares compared to 15,46,586 shares on offer. The portion for non-institutional investors was subscribed 81% as they subscribed to 18,70,512 shares against 23,19,879 shares on offer.

The company's employees subscribed to 89,756 shares against 75,000 shares set aside for them, leading to 1.2 times subscription.

The Ahmedabad-based firm's IPO, which has set price band at ₹372 to ₹391 per share, consists of ₹500 crore worth fresh issue and an offer-for-sale of ₹82.11 crore.

The offer proceeds will be used to set up a manufacturing facility in its Atlanta facility, fund working capital requirements, support inorganic growth, and for general corporate purposes.

On Thursday, the company had mobilised ₹260.63 crore from anchor investors, including Mahindra Manulife Mutual Fund (MF), ICICI Prudential MF, Aditya Birla Sun Life Insurance Company, Troo Capital and SBI General Insurance Company.

Senores Pharmaceuticals IPO lot size

Interested investors can bid for one lot size or 38 shares worth ₹14,858 and in multiples after that.

Senores Pharmaceuticals IPO allotment and listing date

About Senores Pharmaceuticals

Senores Pharmaceuticals specialises in identifying, developing, and manufacturing various complex pharmaceutical products, making it a preferred partner for select customers.