Senores Pharmaceuticals IPO

Senores Pharmaceuticals IPOopens for subscription on December 20, 2024 and closes on December 24, 2024. The allotment for the Senores Pharmaceuticals IPO is expected to be finalized on Thursday, December 26, 2024. Senores Pharmaceuticals IPO will list on BSE, NSE with tentative listing date fixed as Monday, December 30, 2024.

Senores Pharmaceuticals IPO price band is set at ₹372 to ₹391 per share. The minimum lot size for an application is 38. The minimum amount of investment required by retail investors is ₹14,858. The minimum lot size investment for sNII is 14 lots (532 shares), amounting to ₹2,08,012, and for bNII, it is 68 lots (2,584 shares), amounting to ₹10,10,344.

Senores Pharmaceuticals IPO is a book built issue of Rs 582.11 crores. The issue is a combination of fresh issue of 1.28 crore shares aggregating to Rs 500.00 crores and offer for sale of 0.21 crore shares aggregating to Rs 82.11 crores.

Senores Pharmaceuticals IPO Details

Senores Pharmaceuticals IPO Lot Size

Investors can bid for a minimum of 38 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Senores Pharmaceuticals IPO Objectives

The Company proposes to utilise the Net Proceeds towards funding the following objects:

1. Investment in one of the Subsidiaries, Havix Group, Inc. d/b/aAavis Pharmaceuticals(“Havix”), to fund capital expenditure requirements for setting up a manufacturing facility for the production of sterile injections in the Atlanta Facility;
2. Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company;
3. Investment in the Subsidiary, namely, Havix, for re-payment/pre-payment in whole or part of certain borrowings availed by such Subsidiary;
4. Funding the working capital requirements of the Company;
5. Investment in the Subsidiaries, namely, Senores Pharmaceuticals Inc. (“SPI”)and Ratnatris Pharmaceutical Private Limited (“Ratnatris”), to fund their working capital requirements.
6. Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes.

About Senores Pharmaceuticals

Incorporated in December 2017, Senores Pharmaceuticals develops and manufactures a range of pharmaceutical products primarily for the regulated markets of the US, Canada, and the UK, while also serving emerging markets.

The company’s product portfolio consists of Amphetamine Sulfate Tablets, Hydroxychloroquine Sulfate Tablets, Ketoconazole Tablets, Butalbital, Acetaminophen and Caffeine Capsules, Mexiletine Hydrochloride Capsules, Ketorolac Tromethamine Tablets, Diclofenac Potassium Tablets, Diclofenac Potassium Tablets, Nicardipine Hydrochloride Capsules, Escitalopram Tablets, Prochlorperazine Maleate Tablets USP, Terazosin Capsules USP, Morphine Sulfate Tablets, Methadone Hydrochloride Tablets, Cyclobenzaprine Hydrochloride Tablets, Irbesartan Tablets, Risperidone Tablets Topiramate Capsules, and Ivermectin Tablets for regulated markets.

As of September 30, 2024, the company has launched 55 products in key therapeutic areas, including antibiotics and anti-fungal treatments. They have established partnerships with distributors and hospitals across several states in India.

As of September 30, 2024, the company operates three dedicated R&D facilities in India and the US.

The company operates in Emerging Markets across 43 countries and manufactures critical care injectables and APIs.

The company’s manufacturing unit is situated in Ahmedabad, Gujrat.

Competitive Strength

Experieced Management Teamabilities with proprietary IP rights to facilitate innovation of future-ready products

The company serves the US, Canada, and the UK regulated markets with its US FDA-approved manufacturing facility.

A unique product portfolio tailored for regulated markets developed in a brief period.

Long-term marketing agreements with pharmaceutical companies in the US, Canada, and the United Kingdom regulated markets.

Presence in the Emerging Markets with a product portfolio, including speciality or complex products.

Robust R&D capabilities driving our differentiated portfolio of products.

Senores Pharmaceuticals Financial Information 

Senores Pharmaceuticals IPO Reservation

Senores Pharmaceuticals IPO Timeline (Tentative Schedule)

Senores Pharmaceuticals IPO opens on December 20, 2024, and closes on December 24, 2024.