Senores Pharmaceuticals IPO Overview

Senores Pharmaceuticals IPO is a book built issue of Rs 582.11 crores. The issue is a combination of fresh issue of 1.28 crore shares aggregating to Rs 500.00 crores and offer for sale of 0.21 crore shares aggregating to Rs 82.11 crores.

Senores Pharmaceuticals IPO bidding started from December 20, 2024 and ended on December 24, 2024. The allotment for the Senores Pharmaceuticals IPO is expected to be finalized on Thursday, December 26, 2024. Senores Pharmaceuticals IPO will list on BSE, NSE with tentative listing date fixed as Monday, December 30, 2024.

Senores Pharmaceuticals IPO price band is set at ₹372 to ₹391 per share. The minimum lot size for an application is 38. The minimum amount of investment required by retail investors is ₹14,858. The minimum lot size investment for sNII is 14 lots (532 shares), amounting to ₹2,08,012, and for bNII, it is 68 lots (2,584 shares), amounting to ₹10,10,344.

Equirus Capital Private Limited, Ambit Private Limited, Nuvama Wealth Management Limited are the book running  lead manager of the Senores Pharmaceuticals IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to Senores Pharmaceuticals IPO RHP for detailed information.

Senores Pharmaceuticals IPO Important dates

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 Financial Performance

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
Amount in ₹ Crore

Senores Pharmaceuticals IPO 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
Pre IPO Post IPO
EPS (Rs) 9.83 13.86
P/E (x) 39.77 28.21

Note:

  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2024 that is available in RHP.

Senores Pharmaceuticals IPO Objectives

The Company proposes to utilise the Net Proceeds towards funding the following objects:

  1. Investment in one of the Subsidiaries, Havix Group, Inc. d/b/aAavis Pharmaceuticals(“Havix”), to fund capital expenditure requirements for setting up a manufacturing facility for the production of sterile injections in the Atlanta Facility;
  2. Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company;
  3. Investment in the Subsidiary, namely, Havix, for re-payment/pre-payment in whole or part of certain borrowings availed by such Subsidiary;
  4. Funding the working capital requirements of the Company;
  5. Investment in the Subsidiaries, namely, Senores Pharmaceuticals Inc. (“SPI”)and Ratnatris Pharmaceutical Private Limited (“Ratnatris”), to fund their working capital requirements.
  6. Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes.

Senores Pharmaceuticals IPO Lot Size

Investors can bid for a minimum of 38 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

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 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 Company Overview and Services

Incorporated in December 2017, Senores Pharmaceuticals Limited develops and manufactures a range of pharmaceutical products primarily for the regulated markets of the US, Canada, and the UK, while also serving emerging markets.

The company’s product portfolio consists of Amphetamine Sulfate Tablets, Hydroxychloroquine Sulfate Tablets, Ketoconazole Tablets, Butalbital, Acetaminophen and Caffeine Capsules, Mexiletine Hydrochloride Capsules, Ketorolac Tromethamine Tablets, Diclofenac Potassium Tablets, Diclofenac Potassium Tablets, Nicardipine Hydrochloride Capsules, Escitalopram Tablets, Prochlorperazine Maleate Tablets USP, Terazosin Capsules USP, Morphine Sulfate Tablets, Methadone Hydrochloride Tablets, Cyclobenzaprine Hydrochloride Tablets, Irbesartan Tablets, Risperidone Tablets Topiramate Capsules, and Ivermectin Tablets for regulated markets.

As of September 30, 2024, the company has launched 55 products in key therapeutic areas, including antibiotics and anti-fungal treatments. They have established partnerships with distributors and hospitals across several states in India.

As of September 30, 2024, the company operates three dedicated R&D facilities in India and the US.

The company operates in Emerging Markets across 43 countries and manufactures critical care injectables and APIs.

The company’s manufacturing unit is situated in Ahmedabad, Gujrat.

Competitive Strength

  1. The company serves the US, Canada, and the UK regulated markets with its US FDA-approved manufacturing facility.
  2. A unique product portfolio tailored for regulated markets developed in a brief period.
  3. Long-term marketing agreements with pharmaceutical companies in the US, Canada, and the United Kingdom regulated markets.
  4. Presence in the Emerging Markets with a product portfolio, including speciality or complex products.
  5. Robust R&D capabilities driving our differentiated portfolio of products.
  6. Experieced Management Team

Senores Pharmaceuticals IPO SWOT Analysis

Strengths:

  • Strong Financial Growth: Senores has demonstrated significant revenue and profit growth in recent years, indicating a positive trajectory.
  • Presence in Regulated Markets: The company’s presence in regulated markets like the US, Canada, and the UK suggests adherence to quality standards and provides access to lucrative markets.
  • Focus on Off-Patented Generic Products: This focus allows Senores to capitalize on established molecules and avoid the high costs associated with new drug development.
  • Recent Acquisitions: Acquisitions like Havix Group with a US FDA-approved manufacturing facility and Ratnatris Pharma in India have expanded Senores’ capabilities and market reach.
  • Expanding Manufacturing Capabilities: Investment in a new sterile injectable facility in the US signals a commitment to growth and higher-value products.

Weaknesses:

  • Relatively Short Operating History (Post-Acquisitions): The company’s financial performance post-acquisitions needs further observation to establish a consistent track record.
  • Dependence on Key Markets: Heavy reliance on a few key markets could make the company vulnerable to regulatory changes or economic downturns in those regions.
  • Limited Geographic Diversification: While present in 43 countries, the company’s revenue may be concentrated in a few key markets, limiting its resilience to regional challenges.
  • Dependence on Partnerships for Distribution: Relying on partnerships for distribution could affect market control and potentially limit profit margins.
  • Valuation Concerns: Some analysts have pointed out that the IPO’s valuation, particularly the P/E ratio, appears high compared to industry peers.

Opportunities:

  • Increasing Global Pharmaceutical Expenditure: The global pharmaceutical market is expected to continue growing, providing a favorable environment for Senores.
  • Growing Penetration of Pharmaceuticals: Increasing access to healthcare and rising awareness of health issues are driving demand for pharmaceutical products.
  • “Make in India” Initiative: This initiative could support Senores’ manufacturing operations in India and potentially provide incentives for domestic production.
  • Further Expansion in Emerging Markets: There is potential for Senores to further expand its presence in emerging markets with growing healthcare needs.

Threats:

  • Intense Competition: The pharmaceutical industry is highly competitive, with both generic and branded drug manufacturers vying for market share.
  • Regulatory Changes: Changes in regulations in key markets, such as pricing policies or drug approvals, could impact Senores’ business.
  • Currency Fluctuations: Fluctuations in exchange rates could affect the company’s profitability, especially with international operations.
  • Supply Chain Disruptions: Disruptions in the global supply chain could impact the availability of raw materials or finished products.

Senores Pharmaceuticals IPO GMP Details

Senores Pharmaceuticals IPO last GMP is ₹230, last updated Dec 24th 2024 08:24 AM. With the price band of 391.00, Senores Pharmaceuticals IPO’s estimated listing price is ₹621 (cap price + today’s GMP).The expected percentage gain/loss per share is 58.82%.

We update GMP on a daily basis and based on last 9 sessions grey market activities, today IPO GMP points upward and expects a strong listing. The lowest GMP is ₹0, while the highest GMP is ₹230. Stay with us to know the daily price trend of Senores Pharmaceuticals IPO GMP with expected listing price.

GMP Date IPO Price GMP Sub2 Sauda Rate Estimated Listing Price Last Updated
24-12-2024 Close 391.00 ₹230  6600/92400 ₹621 (58.82%) 24-Dec-2024 8:24
23-12-2024 391.00 ₹230   6600/92400 ₹621 (58.82%) 23-Dec-2024 22:23
22-12-2024 391.00 ₹215   6200/86800 ₹606 (54.99%) 22-Dec-2024 22:27
21-12-2024 391.00 ₹200   5800/81200 ₹591 (51.15%) 21-Dec-2024 22:25
20-12-2024 Open 391.00 ₹190   5500/77000 ₹581 (48.59%) 20-Dec-2024 22:32
19-12-2024 391.00 ₹150  4300/60200 ₹541 (38.36%) 19-Dec-2024 22:31

What is IPO GMP?

The grey market premium (GMP) reflects the unofficial trading price of an IPO before its listing, offering insights into its potential market performance. A positive GMP indicates that the IPO may yield profits, while a negative GMP suggests a possible discount upon listing. However, it’s essential to recognize that IPO GMP can be highly volatile. Therefore, investors should not make decisions solely based on the GMP but should thoroughly assess all relevant factors before investing.

Senores Pharmaceuticals IPO Subscription Status 

Senores Pharmaceuticals IPO subscribed 19.86 times. The public issue subscribed 50.03 times in the retail category, 0.37 times in QIB, and 38.3 times in the NII category by December 24, 2024 .

Investor Category Subscription (times) Shares Offered* Shares bid for Total Amount (Rs Cr.)*
Anchor Investors 1 66,65,725 66,65,725 260.63
Qualified Institutions 0.37 44,43,817 16,52,316 64.61
Non-Institutional Buyers 38.3 22,21,909 8,51,08,638 3,327.75
  bNII (bids above ₹10L) 33.36 15,18,605 5,06,55,292 1,980.62
  sNII (bids below ₹10L) 48.99 7,03,304 3,44,53,346 1,347.13
Retail Investors 50.03 14,81,272 7,41,14,668 2,897.88
Total ** 19.86 81,46,998 16,18,12,284 6,326.86

Total Application : 18,66,467

Note:

  • *: “Shares Offered” and “Total Amount” are calculated based on the upper price of the issue price range.

  • **: The portion of anchor investors (or market makers) is not included in the total number of shares offered.

Date QIB NII NII (> ₹10L) NII (< ₹10L) Retail Total
Day 1
Dec 20, 2024
0.01 1.77 1.13 3.15 7.9 1.94
Day 2
Dec 23, 2024
0.36 25.74 20.7 36.64 40.38 14.65
Day 3
Dec 24, 2024
0.37 38.3 33.36 48.99 50.03 19.86

Senores Pharmaceuticals IPO Allotment status 

Senores Pharmaceuticals IPO allotment is expected on Thursday, December 26, 2024.

Senores Pharmaceuticals IPO allotment status is not available at this time. Senores Pharmaceuticals IPO – The allotment status will be available once the basis of allotment is finalized. Please revisit us to check the latest updates for Senores Pharmaceuticals Limited IPO allotment status.

To check Senores Pharmaceuticals IPO allotment status, follow the steps below:

  1. Click on the below allotment status check button.
  2. Select Company Name.
  3. Enter your PAN Number, Application Number or DP Client ID (Anyone).
  4. Click on Search.

On securing the allotment, you will receive the credit of equivalent shares in your Demat account.

If you have any concerns or queries about the allotment status, contact Link Intime India Private Ltd either by phone or email. Investors can call on +91-22-4918 6270 or send an email with all relevant details to ipo.helpdesk@linkintime.co.in.

Senores Pharmaceuticals IPO Contact Details

Senores Pharmaceuticals Limited
1101 to 1103, 11th floor,
South Tower, ONE 42 oppositeJayantilal Park,
Ambali Bopal Road, Ahmedabad,-380054
Phone: +91-79-29999857
Email: cs@senorespharma.com
Websitehttps://senorespharma.com/

Disclaimer: Investing in Initial Public Offerings (IPOs) involves substantial risk, and financial returns are not guaranteed. The information provided should not be construed as financial or investment advice. Prospective investors are advised to consider their financial situation, investment objectives, and risk tolerance before participating in an IPO. It is recommended to consult with a qualified financial advisor or professional before making any investment decisions. Past performance is not indicative of future results. Investments in IPOs may be subject to market risk, including the potential loss of principal.

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