IPO Details
Bidding Dates
20 Dec '24 - 24 Dec '24
Minimum Investment
₹14,858 / 1 Lot (38 Shares)
Price Range
₹372 - ₹391
Maximum Investment
₹1,93,154/ 13 Lot (494 Shares)
Retail Discount
To be announced
Issue Size
₹582.11 crore
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) |Senores Pharmaceuticals IPO Important Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Dec 20, 2024
IPO Closing Date
Dec 24, 2024
Basis of Allotment
Dec 26, 2024
Initiation of Refunds
Dec 27, 2024
IPO Listing Date
Dec 30, 2024
About Senores Pharmaceuticals IPO
Senores Pharmaceuticals IPO is a book-built issue aiming to raise ₹582.11 crore. The issue includes a fresh issue of 1.28 crore equity shares worth ₹500 crore and an offer for sale of 0.21 crore equity shares valued at ₹82.11 crore. The IPO will be open for subscription from December 20, 2024, to December 24, 2024. The allotment is expected to be finalised on December 26, 2024, with the shares likely to be listed on BSE and NSE on December 30, 2024.
The price band for the IPO is set between ₹372 and ₹391 per share. Retail investors can apply for a minimum of one lot, comprising 38 shares, requiring an investment of ₹14,858. For sNII investors, the minimum investment is 14 lots (532 shares), amounting to ₹2,08,012, while bNII investors need to invest in 68 lots (2,584 shares), equating to ₹10,10,344.
Equirus Capital Private Limited, Ambit Private Limited, and Nuvama Wealth Management Limited are the book-running lead managers for the IPO. Link Intime India Private Ltd is serving as the registrar, ensuring smooth handling of the issue.
Industry Outlook
- The global pharmaceutical market is expected to grow from USD 1,635 billion in 2023 to USD 2,251 billion by 2028, with a CAGR of 6.6%. This growth is fueled by an aging population, increasing chronic diseases, and rising demand in developing nations.
- Developing countries, particularly India, are experiencing a surge in demand for generic drugs, driven by both chronic and infectious diseases. India's role as a major supplier to the global market continues to strengthen, with exports growing significantly.
Senores Pharmaceuticals Limited IPO Objectives
The company plans to utilise the Net Proceeds towards funding of the following objects:
- Utilise funds for investment in Havix Group to establish a manufacturing facility for sterile injections in Atlanta.
- Repayment or pre-payment of certain loans taken by the company and its subsidiaries, including Havix, Ratnatris, and SPI.
- Funding the working capital needs of the company and its subsidiaries, specifically SPI and Ratnatris.
- The remaining proceeds will be used for supporting growth through acquisitions, strategic initiatives, and general corporate purposes.
About Senores Pharmaceuticals Limited
Senores Pharmaceuticals Limited is a global research-driven pharmaceutical company focused on developing and manufacturing a wide range of pharmaceutical products, mainly for the Regulated Markets in the US and Canada.
The company also has a strong presence in Emerging Markets across 43 countries. Its core strength lies in identifying and producing specialty, underpenetrated, and complex pharmaceutical products, making it a preferred partner for many customers.
Through data analytics, market assessment, and experienced management, Senores Pharmaceuticals strategically identifies commercially underpenetrated molecules to launch products in both Regulated and Emerging Markets. The company leverages its R&D capabilities to create a portfolio of differentiated, complex pharmaceutical products.
This focus on quality and specialty molecules has resulted in an extensive pipeline of complex products across various dosage forms and therapeutic domains. Notably, Senores has established partnerships with prominent pharmaceutical companies like Prasco LLC, Lannett Company Inc., and Sun Pharmaceuticals Industries Limited.
The company’s Regulated Markets Business is managed through two subsidiary companies, Havix and SPI. Havix operates a US FDA-approved oral solid dosage facility in Atlanta, while SPI handles intellectual property and agreements with marketing partners. In Emerging Markets, Senores Pharmaceuticals operates through its WHO-GMP-approved facility in Gujarat, India, catering to various therapeutic areas. Senores Pharmaceuticals also engages in the CDMO/CMO business, offering customised formulation, development, and manufacturing services.
How To Check the Allotment Status of the Senores Pharmaceuticals IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for a Senores Pharmaceuticals IPO online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Senores Pharmaceuticals IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Senores Pharmaceuticals Limited
Registered office: 1101 to 1103, 11th floor, South Tower, ONE 42 oppositeJayantilal Park, Ambali Bopal Road, Ahmedabad, Gujarat, India, 380054
Email: cs@senorespharma.com
Phone: +91-79-29999857
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 Issue |
Category Reservation Detail Table
|
Application Category |
Maximum Bidding Limits |
Bidding at Cut-off Price Allowed |
|
Only RII |
Up to ₹2 lakh |
Yes |
|
Only sNII |
₹2 lakh to ₹10 lakh |
No |
|
Only bNII |
₹10 lakh to NII reservation portion |
No |
|
Only employee |
Up to ₹2 lakh |
Yes |
|
Employee + RII/NII |
Employee limit: Up to ₹2 lakh (In certain cases, employees are given discount if bidding amount is upto ₹2 lakh) If applying as RII: Up to ₹2 lakh If applying as NII: sNII > ₹2 lakh and up to ₹10 lakh and bNII > ₹10 lakh |
Yes for shareholder/RII |
Senores Pharmaceuticals IPO Lot Size Details
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
38 |
₹14,858 |
|
Retail (Max) |
13 |
494 |
₹1,93,154 |
|
S-HNI (Min) |
14 |
532 |
₹2,08,012 |
|
S-HNI (Max) |
67 |
2,546 |
₹9,95,486 |
|
B-HNI (Min) |
68 |
2,584 |
₹10,10,344 |
Senores Pharmaceuticals IPO Promoter Holding
The company's Promoters are Swapnil Jatinbhai Shah and Ashokkumar Vijaysinh Barot.
|
Shareholding Pre Issue |
71.10% |
|
Shareholding Post Issue |
- |
Key Performance Indicators for Senores Pharmaceuticals IPO
As of March 31, 2024, the KPIs of Senores Pharmaceuticals:
|
KPI |
Values |
|
ROE |
23.60% |
|
ROCE |
11.73% |
|
Debt/Equity |
1.07 |
|
RoNW |
23.60% |
|
PAT Margin |
15.25 |
|
Price to Book Value |
5.84 |
Price Metrics
|
Metric |
Pre-IPO |
Post-IPO |
|
P/E (x) |
39.77 |
28.21 |
|
EPS (₹) |
9.83 |
13.86 |
Note: The Pre-IPO EPS is based on the company’s shareholding as of the RHP date and earnings for the financial year ending March 31, 2024. The Post-Issue EPS is calculated using post-issue shareholding and annualised earnings for the period ending September 30, 2024, as stated in the RHP.
Senores Pharmaceuticals IPO Prospectus
Senores Pharmaceuticals IPO Registrar and Lead Managers
Senores Pharmaceuticals IPO Lead Managers
- Equirus Capital Private Limited
- Ambit Private Limited
- Nuvama Wealth Management Limited
Registrar for Senores Pharmaceuticals IPO
Link Intime India Private Limited
- Contact Number: +91-22-4918 6270
- Email Address: senorespharma.ipo@linkintime.co.in
Website: Senores Pharmaceuticals IPO Registrar
Financial Performance of Senores Pharmaceuticals Limited
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Revenue from Operations (in ₹ million) | 2,145.24 | 353.37 | 141.70 |
| PAT Margin (%) | 15.25 | 23.87 | 7.00 |
| Cash & Cash Equivalents (in ₹ million) | 104.41 | 0.92 | 14.10 |
| Return on Net Worth (%) | 23.60 | 20.55 | 4.35 |
| Earnings Per Share (“EPS”) (₹) | 13.67 | 8.87 | 1.81 |
| EBDITA (in ₹ million) | 444.08 | 163.54 | 24.13 |
| Return On Capital Employed (%) | 11.73 | 18.56 | 5.38 |
Know before investing
Strengths
5-
Senores Pharmaceuticals has a US FDA-approved manufacturing facility in Atlanta, enhancing its ability to serve regulated markets.
-
The company’s Atlanta facility, approved by the DEA, can manufacture controlled substances, providing a competitive edge in the US market.
-
Senores Pharmaceuticals offers a one-stop CDMO solution, catering to pharmaceutical companies' development and manufacturing needs.
-
The company’s long-term marketing arrangements in regulated markets secure steady revenue streams.
-
The company has built a strong product portfolio in emerging markets, focusing on complex products with less competition.
Risks
5-
The company’s reliance on third-party marketing partners and distributors exposes it to potential business disruptions if partnerships fail.
-
Strict adherence to quality standards is crucial for Senores Pharmaceuticals; any failure may lead to order cancellations and legal liabilities.
-
Senores faces significant risks from regulatory inspections that could result in production stoppages or facility closures.
-
Product recalls or quality control issues at Senores Pharmaceuticals could damage its reputation and lead to costly litigation.
-
The company’s reliance on a few key customers makes it vulnerable to significant revenue loss if these customers terminate contracts.
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Senores Pharmaceuticals Limited Peer Details
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (₹) | RoNW (%) |
|---|---|---|---|---|
| Senores Pharmaceuticals Limited | 13.67 | 12.21 | 66.96 | 23.6 |
| Ajanta Pharma Ltd. | 64.82 | 64.77 | 281.6 | 23.47 |
| Alembic Ltd. | 31.33 | 31.33 | 245.12 | 13.4 |
| Caplin Point Laboratories Ltd. | 60.79 | 59.9 | 309.03 | 21.69 |
| Gland Pharma Limited | 46.9 | 46.9 | 529.65 | 9.26 |
| Strides Pharma Science Ltd | -7.76 | -7.76 | 225.43 | -4.44 |
Senores Pharmaceuticals IPO FAQs
Senores Pharmaceuticals IPO is a book-built issue IPO. It will be open from December 20, 2024, to December 24, 2024.
The Basis of Allotment will happen on Thursday, December 26, 2024.
The IPO subscription window will open on December 20, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 38 shares.
The listing date for Senores Pharmaceuticals IPO is Monday, December 30, 2024.
The issue size of the Senores Pharmaceuticals IPO is up to ₹582.11 crore, with a fresh issue of ₹500.00 crore and an offer for sale of ₹82.11 crore.
The open and close dates for Senores Pharmaceuticals IPO are from December 20, 2024, to December 24, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Senores Pharmaceuticals’s financial statements, download the IPO’s RHP document.
Pre-apply allows investors to apply for the Senores Pharmaceuticals IPO two days before the subscription period opens, ensuring an early submission of your application.
Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.
You will receive a notification once your order is successfully placed with the exchange after the bidding starts.
Link Intime India Private Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.
The Senores Pharmaceuticals Limited IPO is proposed to be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
