Zenith Drugs IPO share allotment on Feb 23: Here’s how to check status

Indore-based pharmaceutical manufacturing and trading is expected to announce the allotment of shares to successful bidders on Friday, February 23. The pharma company received a strong response from both retail and non-retail investors. The public offer of Zenith Drugs Ltd was subscribed around 179 times on the final day of bidding on Thursday, February 22.

Zenith Drugs shares will be listed on the SME platform of the National Stock Exchange of India (NSE), Emerge, on February 27.

Successful bidders will be notified about the share allotment by the company through SMS and email on Friday. The company is expected to initiate refunds and credit of shares to the demat accounts on February 26.

Investors can check the Zenith Drugs IPO share allotment status on the official website of NSE as well as the official portal of the registrar, Bigshare Services Pvt Ltd.

Steps to check Zenith Drug IPO allotment status

• Visit the official website of Bigshare Services Pvt Ltd at https://www.bigshareonline.com.
• Click on IPO allotment status.
• Select any one server.
• Choose Zenith Drugs Limited from the ‘Select Company’ dropdown menu.
• Choose either application number, beneficiary ID, or PAN.
• Enter the details.
• Complete the 'captcha' to verify.
• Click the "Search" button to check your allotment status.

Investors can also check the allotment status through the official website of NSE. However, they need to register themselves on the official site of NSE before proceeding further. After creating a username and password they can check the allotment status by using their PAN and IPO application number.

Zenith Drugs IPO subscription

The ₹40.68-crore initial public offering of Zenith Drugs Ltd was subscribed 179.18 times on the final day of bidding on Thursday. The issue opened for subscription on February 19.

At the close of bidding, the public offer received applications for 53,98,14,400 equity shares against 51,48,800 equity shares offered.

Qualified institutional investors’ category was subscribed 106.72 times. Applications for 9,16,97,600 equity shares were received against 859,200 equity shares set aside for the segment. The non-institutional buyers placed bids 368 times the shares on offer. In total, bids for 23,86,35,200 equity shares were received against 644,800 equity shares.

Retail individual investors’ portion garnered bids 139 times. Applications for 20,94,81,600 equity shares were received against 1,504,000 equity shares on offer.

The company allotted 1,288,000 equity shares to anchor investors while 852,800 equity shares were offered to the Market Maker segment.

Zenith Drug IPO details

The Zenith Drug public offer was a book-built issue to raise a total of Rs 40.68 crore. The IPO was a fresh issue of 51.49 lakh shares with no offer for share component. The company fixed the price band between ₹75 and ₹79 per share. The minimum lot size for an application was 1600 equity shares. The minimum investment was ₹1,20,000.

About Zenith Drugs Ltd

Zenith Drugs Limited is an Indore-based pharmaceutical manufacturing and trading company. It manufactures affordable and generic medicines. The company adheres to WHO-GMP guidelines and holds ISO 9001:2015 certification. The company has a diverse product range of more than 600 FDA-approved drugs. Zenith offers formulations in various forms such as ORS powder, liquid orals, ointments, liquid externals and capsules.

It is expanding operations with a new manufacturing unit in Madhya Pradesh. Zenith exports products to countries in Central America, the Pacific region, Southeast Asia, the Caribbean, and Africa.