December 21, 2024
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Senores Pharmaceuticals IPO GMP grey market premium, review, Subscription, allotment, listing estimate @ Chanakyanipothi.com
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- GMP
- Reviews
- Subscription
- Allotment
What is the latest news relating to Senores Pharmaceuticals IPO?
The IPO will enter the capital market on 20 December 2024 and listing is proposed on 30 December. Price, lot and other details are given below.
What is the latest GMP of Senores Pharmaceuticals IPO?
Senores Pharmaceuticals IPO Subscription Status
Senores Pharmaceuticals IPO Subscriptions (Day 1)Price Rs. 391 Lot 38 shares, Net Rs. 582.11 Crore |
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| QIB | B HNI X | S HNI X | NII X | RII X | Total X |
| 0.01 | 1.13 | 3.15 | 1.77 | 7.90 | 1.94 |
| Applications: 2,73071 / (?x) Amount wise Bids recd. Rs. ? Crore |
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Senores Pharmaceuticals IPO Allotment Link:
We will provide allotment link, once the allotment is finalised.
Who are the promoter of Senores Pharmaceuticals IPO?
The promoters of the company are SWAPNIL JATINBHAI SHAH AND ASHOKKUMAR VIJAYSINH BAROT
What are the Objects of Senores Pharmaceuticals IPO?
The Offer comprises of fresh issue of Capital and also an Offer for Sale by the Selling Shareholders.
The Company proposes to utilise the Net Proceeds towards funding of the following objects:
1.Funding the capital expenditure requirements by investment in of one of its Subsidiaries, Havix Group, Inc. d/b/a Aavis Pharmaceuticals (“Havix”), for setting up a manufacturing facility for the production of sterile injections in our Atlanta Facility;
2.Re-payment/pre-payment, in full or in part, of certain borrowings availed by the Company and its Subsidiaries, namely, Havix, Ratnatris Pharmaceutical Private Limited (“Ratnatris”) and Senores Pharmaceuticals Inc. (“SPI”);
3.Funding the working capital requirements of its Company and its Subsidiaries, namely, SPI and Ratnatris; and
4.Funding inorganic growth through acquisition and other strategic initiatives and
5.general corporate purposes.
A Note on the business of Senores Pharmaceuticals?
Senores is a global research driven pharmaceutical company engaged in developing and manufacturing a wide range of pharmaceutical products predominantly for the Regulated Markets across various therapeutic areas and dosage forms, with a presence in Emerging Markets. Its strength lies in identifying, developing and manufacturing a diverse range of specialty, underpenetrated and complex pharmaceutical products establishing it as a preferred partner to certain customers. Through data analytics, research, market assessment and experienced management, we strategically identify commercially underpenetrated molecules to launch products in the Regulated and Emerging Markets. Its focus on quality and its ability to identify specialty and complex molecules has resulted in an extensive pipeline of curated complex products spanning diverse dosage forms and therapeutic domains, demonstrated through its partnerships in the Regulated Markets with prominent foreign and Indian pharmaceutical companies including Prasco LLC, Lannett Company Inc., Jubilant Cadista Pharmaceuticals Inc., Alkem Laboratories Limited, Sun Pharmaceuticals Industries Limited, Dr. Reddy’s Laboratories Inc. and Cipla USA Inc.
Its business is primarily focused on the Regulated Markets of US and Canada. It has a presence in the Emerging Markets across 43 countries. It also manufactures critical care injectables and APIs.
Regulated Markets Business
Its Regulated Markets Business is carried out through its two subsidiary companies, Havix, which houses our US FDA approved oral solid dosage (“OSD”) facility at Atlanta, US and, SPI which holds its intellectual property and enters into agreements with its marketing partners. Its Regulated Markets Business primarily serves the US and Canada markets. It is in the process of expanding its reach into the Regulated Market of UK.
The company has adopted the following business models for its Regulated Markets Business:
(I) Marketed products (“Marketed Products”) which includes ANDA Products and Sourced Products; and
(II) contract development and manufacturing operations (“CDMO”)/ contract manufacturing operations (“CMO”).
For more information, click: www. senorespharma.com
Senores Pharmaceuticals IPO GMP grey market premium, review, Subscription, allotment, listing estimate
Senores Pharmaceuticals IPO Details |
|
| IPO opens on | 20 December 2024 |
| IPO closes on | 24 December 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 14887723 Shares / Rs 582.11 Crore |
| * Fresh Issue | 12787723 Shares/ Rs. 500 Crore |
| * Offer for Sale | 2100,000 shares/ Rs. 82.11 Crore |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 372-391 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 38 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Senores Pharmaceuticals ? | Shares | Rs. in Crore |
| QIB (75 %) net | ||
| NII (15 %) | ||
| RII (10 %) | ||
| Employees | – | – |
| Total Shares | 17887723 | 582.11 |
| Retail portion oversubscribed by | ? Forms. | |
| How to apply in Senores Pharmaceuticals IPO? |
Amount Rs. |
|
| Min Retail Appli | 38 shares | 14858 |
| Max Retail Appli | 494 Shares | 193154 |
| Small HNI (Min) application | 532 Shares | 208012 |
| Small HNI (Max) application | 2546 Shares | 995486 |
| Big HNI Application | 2584 Shares | 1010344 |
What is the timetable of
|
|
| IPO opens on | 20 December 2024 |
| IPO Closes on | 24 December2024 |
| IPO Allotment on | 26 December 2024 |
| Unblocking of ASBA | 27 December 2024 |
| Credit of Shares | 27 December 2024 |
| Listing on | 30 December 2024 |
| Registered Office of the company | |
| 1101 to 1103, 11th floor, South Tower, ONE 42 opposite Jayantilal Park, Ambali Bopal Road, Ahmedabad, Gujarat, India, 380054 |
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| Who are the Lead Managers of Senores Pharmaceuticals IPO? Equirus Capital Private Limited Ambit Private Limited Nuvama Wealth Management Limited |
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| Registrar to IPO | |
| Link Intime India Pvt. ltd |
Senores Pharmaceuticals IPO Financial & Analytical Ratios |
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| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | 14.63 | 0.99 | 1.81 | 4.35 |
| 2022-23 | 39.02 | 8.43 | 8.87 | 20.55 |
| 2023-24 | 217.34 | 32.71 | 13.67 | 23.60 |
| Book Value of the Share on 31.03.2024 |
Rs. | 66.96 | ||
| BV after the IPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 391 | ||
| Suraksha Diagnostic IPO Ratio Analysis |
|
| Price /EPS | 28.60 |
| Price/Book Value Ratio | 5.84 |
| Debt/Equity Ratio | 1.07 |
How Senores Pharmaceuticals IPO compares with the Peers?
Peer Comparison.
| As on the date of DRHP | FV | Total | PE |
| Rs. | Income | Ratio | |
| Rs. In Crore | |||
| Senores Pharma | 10 | 214.52 | ? |
| Ajanta Pharma | 2 | 4208.71 | 34.37 |
| Alembic Pharma | 2 | 6228.63 | 34.58 |
| Caplin Point Lab | 2 | 1694.1 | 25.23 |
| Gland Pharma | 1 | 5664.72 | 43.73 |
| Strides Pharma | 10 | 4051.12 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Senores Pharmaceuticals IPO Review by Paresh Gordhandas, CA & Research Analyst.
Senores is global research driven pharmaceutical company engaged in developing and manufacturing a wide range of pharmaceutical products predominantly for the Regulated Markets across various therapeutic areas and dosage forms, with a presence in Emerging Markets. Its strength lies in identifying, developing and manufacturing a diverse range of specialty, underpenetrated and complex pharmaceutical products establishing it as a preferred partner to certain customers.
The company leverages its R&D capabilities to develop and manufacture a portfolio of differentiated complex pharmaceutical products.
Its business is primarily focused on the Regulated Markets of US, Canada and the United Kingdom. We have a presence in the Emerging Markets across 43 countries. It also manufactures critical care injectables and APIs. For the fiscal 2024, the contribution from the regulated market was 67.66% of the total revenue. Critical care injectable business contributed 2.66% and API business contributed 6.48% of the total revenue. For the fiscal 2024, there is sharp rise in the business with regulated market.(from Rs. 20.72 crore in the year 2023 to Rs. 145.15 crore in year 2024)
Its Regulated Markets Business is carried out through its two subsidiary companies, Havix, which houses its US FDA approved oral solid dosage (“OSD”) facility at Atlanta, US and, SPI, a US based company holding the intellectual property used by its Company, specifically for its ANDA approvals and enters into agreement with its marketing partners. Its Regulated Markets Business primarily serves the US, Canada, and United Kingdom markets. It is also expanding its reach into other Regulated Markets and Semi-Regulated Markets.
The company has adopted the following business models for its Regulated Markets Business: (I) Marketed products (“Marketed Products”) which includes ANDA Products and Sourced Products; and (II) contract development and manufacturing operations (“CDMO”)/ contract manufacturing operations (“CMO”).Out of the total revenue from the regulated markets, the share of marketed products is 90.05% during fiscal 2024. The company typically enters into long term marketing agreements for a period ranging between 5-7 years with its marketing partners or distributors in the Regulated Markets of US, Canada and United Kingdom which results in predictable and stable cash flows. There is no assurance that its business from arrangements with marketing partners or distributors will not decline in the future as a result of increased competition, pricing pressures or fluctuation in the demand or supply of its products.
The size of the IPO is only Rs. 582.11 crore with retail portion being just 10% (e.g. Rs. 58.21 Crore). The shares are offered at reasonable valuation. The current premium to offer price ratio (150/391) is favourable. May Apply.
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