Senores Pharmaceuticals IPO subscribed 6 times on day 2 so far, retail part booked 19x; check key details

Senores Pharmaceuticals IPO got subscribed 6.06 times till 12:15 pm on Monday, December 23, the second day of bidding. The demand was retail individual investors.

The initial share sale, which will conclude on Tuesday, received bids for 5,16,93,566 shares compared to 85,34,681 shares on offer, as per the consolidated data on the NSE.

Qualified institutional buyers (QIBs) part got subscribed 2% as bids were received for 74,898 shares against 45.93 lakh shares reserved.

Last week, Senores Pharmaceuticals had collected nearly ₹261 crore in the anchor round.

The ₹582-crore IPO has a price band of ₹372-₹391 per share. It is a new offering of equity shares valued at ₹500 crore and ₹82.11 crore worth of offer-for-sale (OFS) by promoters and other selling shareholders.

Senores Pharmaceuticals IPO objectives

• To set up a manufacturing plant for the production of sterile injections in the Atlanta facility
• Fund working capital requirements
• Support inorganic growth
• Debt repayment
• Corporate general purposes

Senores Pharmaceuticals IPO lot size

For retail investors, the minimum lot size is 38 shares worth ₹14,858.

About the company

Senores Pharmaceuticals is a research-driven firm focused on producing generic pharmaceutical products. It operates in the business-to-business segment, focusing on the regulated markets of the United States, the UK, and Canada and having a presence in 43 emerging markets.

The company offers a wide range of products in key therapeutic segments, including antibacterial, antifungal, antibiotics, and bloodline products.

As of March 2024, it had three R&D facilities in India and the United States and is consolidating its R&D facilities into one proposed dedicated facility in Ahmedabad.