Senores Pharmaceuticals IPO: GMP soars 46%


Senores Pharmaceuticals Ltd, a well-known name in the pharmaceutical sector, has launched its Initial Public Offering (IPO) to raise ₹582.11 crore. The IPO subscription period runs from December 20 to December 24, 2024, offering investors a new opportunity in the healthcare space.

IPO Details

  • Fresh Issue: ₹500 crore
  • Offer for Sale: ₹82.11 crore
  • Price Band: ₹372 to ₹391 per share
  • Lot Size: 38 shares
  • Minimum Investment: ₹14,858

Key Dates

  • Opening Date: December 20, 2024
  • Closing Date: December 24, 2024
  • Allotment Date: December 26, 2024
  • Listing Date: December 30, 2024

Objectives of the IPO

The funds raised will primarily be used for working capital, enhancing research and development efforts, and repaying existing debt.

Subscription Status

On the first day of bidding, the IPO was subscribed 1.86 times, with a robust response from retail investors, who oversubscribed their portion by 7.51 times. This strong participation indicates significant interest from the investing community.

Grey Market Performance

Senores Pharmaceuticals' shares are trading at a premium of ₹180 in the grey market. This suggests a potential listing price of ₹571 per share, which is approximately 46% higher than the upper end of the price band.

Financial Snapshot

For the six months ending September 30, 2024, the company reported a net profit of ₹23.94 crore and total revenue of ₹183.35 crore, showcasing solid financial performance.

Analyst Views

  • Aditya Birla Money: Rated the IPO as "Subscribe," noting the allocation of ₹500 crore for debt repayment, expansion projects, and operational needs.
  • StoxBox: Also recommended subscribing, citing Senores Pharmaceuticals' strong market position, impressive financials, and advanced R&D capabilities.

Final Thoughts

The Senores Pharmaceuticals IPO has generated strong investor interest, as indicated by its grey market premium and subscription numbers. Investors looking for exposure in the healthcare and pharmaceutical sectors may find this offering attractive. However, due diligence and consideration of personal financial goals are advised before making any investment decision.

Disclaimer: This article is for informational purposes only and not a recommendation to invest. Please consult a financial advisor before making any investment choices.

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