Senores Pharmaceuticals IPO: Senores Plans to Raise Rs 600 Crore via IPO Route

Senores Pharmaceuticals has filed DRHP with the Securities Exchange Board of India to raise funds via an IPO. This public offer will consist of a fresh issue and an offer-for-sale. The fresh issue is Rs 617.69 crore, and the OFS consists of 1.42 crore equity shares with a face value of Rs 5 per share.

This IPO will be made through the book-building process, in which not less than 75% of the net offer will be available for QIB, 15% will be available for Non-institutional investors, and 10% will be available for retail investors. 

Under the OFS, up to 8.5 lakh equity shares offloaded by Swapnil Jatinbhai Shah, up to 5.5 lakh equity shares sold by Ashokkumar Vijaysinh Barot, up to 3 lakh equity shares sold by Sangeeta Mukur Barot and up to 10 lakh by Prakash M Sanghvi will be offloaded. After the approval of DHRP and other IPO processes, the shares will be listed on both the NSE and BSE exchanges. 

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About Senores Pharmaceuticals Limited

Senores Pharmaceuticals specializes in identifying, developing, and manufacturing a wide array of speciality, underserved, and complex pharmaceutical products, positioning itself as a preferred partner for select customers. The company had three dedicated R&D facilities in India and the US and is in the process of consolidating its R&D facilities into one proposed dedicated facility in Ahmedabad.

By utilizing data analytics, research, market assessment, and experienced management, the company strategically selects commercially underserved molecules and introduces it in both regulated markets mainly US and Canada and emerging markets across 43 countries.

Senores Pharmaceuticals IPO: Objectives

The money raised from this public offer will be allocated to funding the capital expenditure requirements in subsidiary Havix for setting up a manufacturing facility for the production of sterile injections in its Atlanta facility. The remaining funds will be used to repay the company's past loans.

Senores Pharmaceuticals Limited: Consolidated Financials 

Senores Pharmaceuticals Limited reported a total income of Rs 390.21 million in the period ending on 31 Mar 2023. But in the period ending on 31 Mar 2024, the total income jumped to 2,173.42 million. 

The company reported a profit of Rs 84.33 million in the period ended on 31 Mar 2023. The profit also saw a massive jump and reported Rs 327.08 million for the period ending on 31 Mar 2024. 

Lead Managers and Registrar

Ambit Private Limited, Nuvama Wealth Management Limited, and Equirus Capital Private Limited are the lead managers for the Senores Pharmaceuticals IPO. Link Intime India Private Limited is the registrar for this IPO.

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