Senores Pharmaceuticals’ shares debuted with a strong 53% premium, listing at ₹600 on the NSE and ₹593.70 on the BSE. The subscription status and Grey Market premium had pointed to strong listing gains following its public issue, which opened on December 20, 2024, and closed on December 24, 2024.
Senores Pharmaceuticals IPO Subscription Status
The subscription data reveals the distribution and demand across various categories for the public offering. Qualified Institutional Buyers (QIBs) saw a strong response with a subscription ratio of 94.66, while Non-Institutional Investors (NII) were oversubscribed at 96.30.
Among NIIs, bids above ten lakh rupees received 93.53 times the demand, and those between two to ten lakh rupees were slightly oversubscribed at 101.83. Retail Individual Investors (RIIs) had a subscription rate of 90.46, with a notable portion of the bids coming in at the cut-off price.
Employees had the least demand, with a subscription ratio of 20.21. Overall, the offering received a total subscription of 93.69 times, highlighting strong investor interest across all categories.
Senores Pharmaceuticals IPO GMP
Senores Pharmaceuticals’ shares have been seeing significant traction in the grey market, where they are trading at a premium of 72.63%. This indicates a high level of investor interest and strong demand even before the official listing.
A Grey Market Premium (GMP) of this magnitude suggests that market participants are anticipating strong post-listing performance and are willing to pay a considerable premium for the shares.
The GMP reflects the confidence in Senores Pharmaceuticals’ potential, and such a high premium typically signals a positive outlook from traders and investors who are closely watching the IPO. This development adds to the excitement around the offering, further intensifying expectations of a strong debut on the stock exchange.
Details About Senores Pharmaceuticals IPO
Senores Pharmaceuticals Limited is raising ₹582.11 crores through its IPO, with a fresh issue of ₹500 crores and an offer for sale of ₹82.11 crores. The IPO opens on December 20, 2024, and closes on December 24, 2024, with a price band of ₹372 to ₹391 per share.
Retail investors can apply for a minimum lot of 38 shares, costing ₹14,858. The allotment date is December 26, 2024, and shares are expected to list on BSE and NSE on December 30, 2024. Despite a loss of ₹32.71 crores in 2024, revenue surged from ₹39.02 crores in 2023 to ₹217.34 crores, indicating potential growth.
About Company
Senores Pharmaceuticals Limited, founded in December 2017, is a dynamic company specializing in generic medicines certified by global authorities. Focused on innovation and manufacturing, it aims to provide affordable healthcare across 43 countries, including the US, Canada, and the UK. With a strong R&D infrastructure, Senores develops niche, complex pharmaceutical products, including critical care injectables and APIs.
Senores Pharmaceuticals IPO Financial Background
Senores Pharmaceuticals has shown significant financial growth, with revenue rising from ₹14.63 crores in 2022 to ₹217.34 crores in 2024. Despite a loss of ₹32.71 crores in 2024, the company’s assets have surged from ₹59.15 crores in 2022 to ₹621.88 crores in 2024. The first quarter of 2024 reported revenue of ₹183.35 crores and assets of ₹678.08 crores, demonstrating continued growth.