Senores Pharma IPO: Share allotment to happen today, great response in gray market

The IPO of drug manufacturing company Senores Pharma received an overwhelming response from investors. Within three days it was subscribed 97.86 times. The allotment of its shares will be final today, i.e. on 29 December 2024. Investors can check the allotment status by visiting BSE website or Registrar Link Intime website.

In the gray market, its shares are trading at a gray market premium (GMP) of Rs 240, which is 61.38% higher than the upper price band of the IPO. However, experts believe that listing gains will not only depend on GMP, but also the company’s financial position and market conditions. Its shares will be listed on BSE and NSE on 30 December 2024.

How to check allotment status?

How to check status on BSE:

1. Visit BSE website.
2. Issue Type: Select ‘Equity’.
3. Issue Name: Select ‘Senores Pharma’.
4. Enter application number or PAN number.
5. Click on ‘I’m not a robot’.
6. Click on Search.
7. Your allotment status will appear on the screen.

How to check status on Registrar Link Intime:

1. Link Intime’s website (click here).
2. Select Senores Pharma in ‘Select Company’.
3. Choose any option between PAN Number, Application Number, or DP/Client ID.
4. Fill the required details.
5. Submit.
6. Your allotment status will appear on the screen.

Senores Pharma IPO got great response

• Issue Details:
  • Issue Size: ₹582.11 crore.
  • Price band: ₹372-₹391 per share.
  • Lot Size: 38 shares.
• Subscription:
  • Qualified Institutional Buyers (QIB): 97.84 times.
  • Non-Institutional Investors (NII): 100.35 times.
  • Retail investors: 93.16 times.

Funds raised under IPO:

• New shares: ₹500 crore.
• Offer for Sale: 21 lakh shares (₹10 face value).
  • Sold by promoters and other shareholders.

Use of funds raised from IPO:

1. Sterile injection manufacturing setup at Atlanta facility: ₹107 crore.
2. To repay debt: ₹93.7 crore.
3. Working Capital: ₹102.74 crore.
4. For inorganic growth and other corporate purposes.

Senores Pharma: Company Profile and Financial Performance

• Established: 2017.
• Main Products: Antibiotics and anti-fungal treatments.
• Products: More than 55 products.
• Manufacturing Unit: Ahmedabad, Gujarat.
• Global Presence: Business in the US, Canada, UK and other countries.

financial performance:

• FY22: Net profit ₹0.99 crore.
• FY23: Net profit ₹8.43 crore.
• FY24: Net profit ₹32.71 crore.
• FY25 (April-September 2024):
  • Revenue: ₹183.35 crore.
  • Net Profit: ₹23.94 crore.