15-Feb-2024
2 mins read
Zenith Drugs Limited IPO 2024 is open for subscription from Monday, February 19, 2024 and will close on Thursday, February 22, 2024. The price band is decided at Rs 75 to Rs 79 per share. The minimum lot size of this application for the retail category is 1600 shares. Whereas, the minimum lot size for HNI category is 2 lots consisting of 3200 shares. The minimum amount of investment required for retail category investors is Rs 1,26,400 (79 x 1600 shares). However for HNI category the minimum investment amount is required Rs 2,52,800 (79 x 3200 shares). Zenith Drugs Limited IPO 2024 is a book-built issue of Rs 40.68 crores. The issue is entirely a fresh issue of 51.49 lakh equity shares. The allotment for this IPO is expected to be finalized on Friday, February 23, 2024. Zenith Drugs Limited IPO will list on NSE SME and listing date fixed on Monday, February 27, 2024. The book running lead manager of Zenith Drugs Limited IPO is Gretex Corporate Services Limited. The registrar for this IPO is Bigshare Services Private Limited. The market maker for the Zenith Drugs Limited IPO is Gretex Share Broking.
About Zenith Drugs Limited Profile
Zenith Drugs is a pharmaceutical company incorporated in 2000, it specializes in manufacturing and trading high quality affordable medicines including generic drugs. Company is based in Indore, since its inception, the company has focused on building a strong foundation and laying the groundwork for its future growth and success. Company was incorporated with an objective of delivering better service in the field of medicine and being a better premium pharmaceutical company in India and abroad. Company’s always emphasis on core strength and policies that focus on technology and great deliverance. The portfolio of the company include, ORS powder, Liquid Orals, Ointments, Liquid Externals and Capsules. The Food and Drugs association has approved 600 products, from which 325 are in production. Company is in the process of setting up a new manufacturing facility in Village, Muradpura, Depalpur, Indore Madhya pradesh. Company supplies its products to countries such as Costa Rica in Central America and the Caribbean and Pacific regions, Malawi, Mauritius, Mozambique, Sudan, Tanzania, Bhutan, Cambodia in Southeast Asia, Tajikistan, Liberia, Sierra Leone, and Conakry.
Objectives of the IPO
The funds raised from the issue will be utilized to purchase the Machinery and equipment for a new manufacturing unit. Moreover, the funds will also be used to upgrade the existing manufacturing blocks. Other than this, proceeds from the issue will cover the working capital requirements and general corporate purposes.
Financial Performance of Zenith Drugs Limited
Company’s revenue increased by 24.85% and profit after tax increased by 64.7% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 |
| Assets | 11,249.04 | 9,793.83 | 6,858.47 |
| Revenue | 6,948.43 | 11,569.65 | 9,266.63 |
| Profit After Tax | 539.38 | 515.29 | 312.86 |
| Net Worth | 2,264.96 | 1,724.42 | 1,209.09 |
| Reserves and Surplus | 1,064.96 | 1,684.42 | 1,169.09 |
| Total Borrowing | 2,902.81 | 2,605.03 | 1,880.86 |
| Amt in Rs. Lakhs |
Other Important Details of Zenith Drugs Limited IPO
| IPO Date | February 19, 2024 to February 22, 2024 |
| Listing Date | 27-Feb-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 75 to Rs 79 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,148,800 shares (amounting to Rs 40.68 Crore) |
| Fresh Issue | 5,148,800 shares (amounting to Rs 40.68 Crore) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 12,000,000 |
| Shareholding post issue | 17,148,800 |
| Market Maker portion | 852,800 shares |
| Gretex Share Broking |
Lot Size of Zenith Drugs Limited IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1600 | Rs 126,400 |
| Retail (Max) | 1 | 1600 | Rs 126,400 |
| HNI (Min) | 2 | 3,200 | Rs 252,800 |
IPO Reservation of Zenith Drugs Limited
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Promoters of Zenith Drugs Limited and Their Holdings
The Promoters of the company are Mr. Sandeep Bhardwaj, Mr. Bhupesh Soni and Mr. Ajay Singh Dassundi.
| Shareholding Pre Issue | 100.00% |
| Shareholding Post Issue | 69.98% |
Time-Table of Zenith Drugs Limited IPO 2024
| IPO Open Date | Monday, February 19, 2024 |
| IPO Close Date | Thursday, February 22, 2024 |
| Basis of Allotment | Friday, February 23, 2024 |
| Initiation of Refunds | Monday, February 26, 2024 |
| Credit of Shares to Demat | Monday, February 26, 2024 |
| Listing Date | Tuesday, February 27, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 22, 2024 |
Key Performance Indicator of Zenith Drugs Limited IPO 2024
| KPI | Values |
| ROE | 35.13% |
| ROCE | 37.29% |
| Debt/Equity | 1.51 |
| RoNW | 29.88% |
| P/BV | 5.5 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 4.29 | 6.29 |
| P/E (x) | 18.4 | 12.56 |
Lead Manager(s) of Zenith Drugs Limited IPO 2024
The lead manager for Zenith Drugs Limited IPO is Gretex Corporate Services Limited.
How to Apply for Zenith Drugs Limited IPO 2024
Wait for the public issue to open for subscription, then visit Bigul website to apply for the Zenith Drugs Limited IPO with Bigul.
How to Check Allotment Status of Zenith Drugs Limited IPO 2024
The registrar for Zenith Drugs Limited IPO is Bigshare Private Services Limited. To check your allotment status, please click here.
FAQs
- What is Zenith Drugs Limited IPO 2024?
Zenith Drugs Limited IPO 2024 is a book-built issue of Rs 40.68 crores. The issue is entirely a fresh issue of 51.49 lakh equity shares. The price band is decided at Rs 75 to Rs 79 per share. The minimum amount of investment required for retail category investors is Rs 1,26,400.
- Who are the lead managers for the Zenith Drugs Limited IPO 2024?
Gretex Corporate Services Limited are appointed as the lead managers for the IPO.
- What is the role of Bigshare Services Private Limited in this IPO?
Bigshare Services Private Limited is the registrar for the Zenith Drugs Limited handling the IPO’s administrative aspects.
- How can I apply for the Zenith Drugs Limited IPO 2024?
The public subscription of this IPO will open on February 19, 2024. Visit Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The funds raised from the issue will be utilized to purchase the Machinery and equipment for a new manufacturing unit. Moreover, the funds will also be used to upgrade the existing manufacturing blocks. Other than this, proceeds from the issue will cover the working capital requirements and general corporate purposes.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Zenith Drugs Limited IPO 2024 by visiting here.
- What is the financial performance of Zenith Drugs Limited?
Company’s revenue increased by 24.85% and profit after tax increased by 64.7% between the financial year ending with March 31, 2023 and March 31, 2022.
