Senores Pharmaceuticals Limited is set to raise ₹582.11 crores through its IPO, comprising a fresh issue of ₹500 crores and an offer for sale of 21 lakh shares worth ₹82.11 crores. The IPO opens for subscription on December 20, 2024, and closes on December 24, 2024, with a price band of ₹372 to ₹391 per share.
Retail investors can apply with a minimum lot size of 38 shares, amounting to ₹14,858, while sNII and bNII investors need to invest ₹2,08,012 (14 lots) and ₹10,10,344 (68 lots), respectively. The allotment date is expected on December 26, 2024, and the shares are scheduled to list on the BSE and NSE on December 30, 2024.
Despite the company reporting a loss of ₹32.71 crores in 2024 against a profit of ₹8.43 crores in 2023, revenue has surged significantly from ₹39.02 crores in 2023 to ₹217.34 crores in 2024, suggesting potential long-term growth for investors.
For a detailed analysis of the Senores Pharmaceuticals IPO, including key dates, subscription data, and expert insights, check out our To track your allotment status
Overview of Contents
Senores Pharmaceuticals IPO
Senores Pharmaceuticals Limited is a dynamic pharmaceutical company specializing in generic medicines, certified by global food and drug authorities. Established in December 2017, the company is committed to producing high-quality pharmaceutical products to meet the evolving demands of global healthcare.
With a focus on innovation, production, and manufacturing, Senores aims to make healthcare more affordable and accessible across 43 countries, including key regulated markets such as the US, Canada, and the UK. Boasting a robust R&D infrastructure and an experienced management team, the company is dedicated to developing niche, complex, and specialty pharmaceutical products, including critical care injectables and active pharmaceutical ingredients (APIs).
Key Highlights
1. Product Portfolio
1. Diverse range of pharmaceutical products, including:
- Amphetamine Sulfate Tablets
- Hydroxychloroquine Sulfate Tablets
- Ketoconazole Tablets
- Morphine Sulfate Tablets
2. 55 products launched in key therapeutic areas like antibiotics and antifungal treatments (as of September 30, 2024).
3. Specializes in critical care injectables and APIs.
2. Operations and Infrastructure
- Operates three dedicated R&D facilities in India and the US.
- Manufacturing unit located in Ahmedabad, Gujarat, approved by the US FDA.
- Strong partnerships with distributors and hospitals across India.
3. Market Presence
- Significant presence in regulated markets, including the US, Canada, and the UK.
- Active across 43 countries, serving both regulated and emerging markets.
4. Competitive Strengths
- Tailored product portfolio for regulated markets developed in a short time.
- Expertise in niche, complex, and specialty pharmaceutical products.
- Robust R&D capabilities driving innovation and differentiation.
- Long-term marketing agreements in the US, Canada, and the UK.
- Experienced leadership team steering growth and strategic goals.
5. Vision and Mission
- Vision: To become a global leader in niche pharmaceutical products through continuous innovation and excellence in production and manufacturing.
- Mission: To bridge the gap between affordable healthcare and accessibility to specialized pharmaceutical solutions.
Senores Pharmaceuticals IPO Details
| Parameter | Details |
|---|---|
| IPO Date | December 20, 2024 to December 24, 2024 |
| Listing Date | December 30, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹372 to ₹391 per share |
| Lot Size | 38 Shares |
| Minimum Investment | ₹14,858 for 1 lot |
| Total Issue Size | 1,48,87,723 shares (aggregating up to ₹582.11 Cr) |
| Fresh Issue | 1,27,87,723 shares (aggregating up to ₹500.00 Cr) |
| Offer for Sale | 21,00,000 shares of ₹10 (aggregating up to ₹82.11 Cr) |
| Issue Type | Book Built Issue IPO |
| Market Lot for HNIs | 14 lots (532 shares) for sNII; 68 lots (2,584 shares) for bNII |
| Listing At | BSE, NSE |
| Retail Quota | 10% |
| QIB Quota | 75% |
| HNI Quota | 15% |
| Shareholding Pre-Issue | 3,32,65,865 shares |
| Shareholding Post-Issue | 4,60,53,588 shares |
| Company Incorporation | December 2017 |
| R&D Facilities | 3 facilities in India and the US |
| Manufacturing Unit | Ahmedabad, Gujarat |
| DRHP Draft Prospectus | Click here |
| RHP Draft Prospectus | Click here |
Senores Pharmaceuticals IPO Dates
| Event | Date | Details/Notes |
|---|---|---|
| IPO Open Date | Friday, December 20, 2024 | Investors can start applying for the IPO from this date. |
| IPO Close Date | Tuesday, December 24, 2024 | Last date to submit IPO applications. Ensure UPI mandate is confirmed before the cut-off time. |
| Cut-off Time for UPI Mandate | 5 PM on December 24, 2024 | Retail investors using UPI must approve mandates before this time. |
| Basis of Allotment Finalization | Thursday, December 26, 2024 | The allotment status will be declared on this date. |
| Initiation of Refunds | Friday, December 27, 2024 | Refunds will be initiated for non-allotted applications. |
| Credit of Shares to Demat | Friday, December 27, 2024 | Shares will be credited to successful applicants’ Demat accounts. |
| Listing Date | Monday, December 30, 2024 | Shares will start trading on BSE and NSE. |
Senores Pharmaceuticals IPO Market Lot
The Senores Pharmaceuticals IPO offers investment opportunities across different categories, with varying lot sizes and amounts. Retail investors can apply for a minimum of 38 shares, while high-net-worth individuals (HNIs) have higher thresholds based on their application type.
| Application Category | Lot Size | Shares | Amount (₹) |
|---|---|---|---|
| Retail Minimum | 1 | 38 | 14,858 |
| Retail Maximum | 13 | 494 | 1,93,154 |
| S-HNI Minimum | 14 | 532 | 2,08,012 |
| B-HNI Minimum | 68 | 2,584 | 10,10,344 |
Senores Pharmaceuticals IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Isssue |
The Senores Pharmaceuticals IPO highlights the company’s strong financial performance over the past few years, reflecting significant growth in revenue and assets. Below is a summary of their financial report for the past three years and the first quarter of 2024:
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
|---|---|---|---|---|
| 2022 | ₹14.63 | ₹13.49 | ₹0.99 | ₹59.15 |
| 2023 | ₹39.02 | ₹26.58 | ₹8.43 | ₹131.05 |
| 2024 | ₹217.34 | ₹192.40 | ₹32.71 | ₹621.88 |
| September 2024 | ₹183.35 | ₹153.95 | ₹23.94 | ₹678.08 |
Senores Pharmaceuticals IPO Promoter Holding
The promoters of Senores Pharmaceuticals IPO are Swapnil Jatinbhai Shah and Ashokkumar Vijaysinh Barot, who hold a significant portion of the company’s equity. Prior to the IPO, the promoters collectively own 71.10% of the company’s shares. This holding will change post-issue, as the promoters’ shareholding will be diluted following the public offering.
Senores Pharmaceuticals IPO Valuation – FY2024
The Senores Pharmaceuticals IPO showcases key financial indicators that highlight the company’s profitability, efficiency, and overall financial health.
| KPI | Values |
|---|---|
| ROE (Return on Equity) | 23.60% |
| ROCE (Return on Capital Employed) | 11.73% |
| EBITDA Margin | 20.70% |
| PAT Margin | 15.25% |
| Debt to Equity Ratio | 1.07 |
| Earnings Per Share (EPS) | ₹13.67 (Basic) |
| Price/Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 23.60% |
| Net Asset Value (NAV) | ₹66.96 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Ajanta Pharma Limited | 64.82 | 34.37 | 23.47% | 281.60 | 4208.71 Cr. |
| Alembic Pharmaceuticals Limited | 31.33 | 34.58 | 13.40% | 245.12 | 6228.63 Cr. |
| Caplin Point Laboratories Limited | 60.79 | 25.23 | 21.69% | 309.03 | 1694.10 Cr. |
| Gland Pharma Limited | 46.90 | 43.73 | 9.26% | 529.65 | 5664.72 Cr. |
| Strides Pharma Science Limited | (7.76) | NA | (4.44%) | 225.43 | 4051.12 Cr. |
Objects of the Issue
- Investment in Havix Group to set up a sterile injection manufacturing facility in Atlanta.
- Repayment or pre-payment of certain company borrowings.
- Investment in Havix for the repayment of its borrowings.
- Funding working capital requirements for Senores Pharmaceuticals.
- Investment in subsidiaries Senores Pharmaceuticals Inc. (SPI) and Ratnatris Pharmaceutical for their working capital needs.
- Supporting inorganic growth through acquisitions and strategic initiatives, along with general corporate purposes.
Senores Pharmaceuticals IPO Registrar
Link Intime India Private Limited
Phone: +91 8108114949
E-mail: senorespharma.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/
Company Address
Senores Pharmaceuticals Limited
1101 to 1103,
11th floor, South Tower, ONE 42
Opposite Jayantilal Park,
Ambali Bopal Road, Ahmedabad,
Ahmedabad, Gujarat,
India, 380054
Phone: +91 -79-29999857
Email: cs@senorespharma.com;
Website: www. senorespharma.com
Senores Pharmaceuticals IPO FAQs
What is the Senores Pharmaceuticals IPO?
The Senores Pharmaceuticals IPO is a public offering to raise funds by issuing new shares and offering some shares for sale. It will be listed on BSE and NSE.
What is the price band for the IPO?
The price band is ₹372 to ₹391 per share.
What is the lot size for the IPO?
The minimum lot size is 38 shares, with a retail investment starting at ₹14,858.
Who are the promoters of Senores Pharmaceuticals?
The promoters are Swapnil Jatinbhai Shah and Ashokkumar Vijaysinh Barot.
What is the objective of the IPO?
The proceeds will be used for capital expenditure, repayment of borrowings, funding working capital, and acquisitions.
What is the financial performance of the company?
Senores Pharmaceuticals has shown growth in revenue, assets, and profitability over the past years, although it reported a loss in 2024.
What are the key financial ratios?
- ROE: 23.60%
- EBITDA Margin: 20.70%
- PAT Margin: 15.25%
What products does Senores Pharmaceuticals offer?
The company manufactures tablets, capsules, and injectables for regulated markets like the US, Canada, and the UK.