IPO Details
Bidding Dates
19 Feb '24 - 22 Feb '24
Minimum Investment
₹ 126,400 / 1 Lot ( 1600 Shares )
Price Range
₹75 - ₹79
Maximum Investment
₹ 126,400 / 1 Lot ( 1600 Shares )
Retail Discount
Not Applicable
Issue Size
₹40.68 Cr
Investor category and sub category
Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Feb 19, 2024
Closing Date
Feb 22, 2024
Basis of Allotment
Feb 23, 2024
Initiation of Refunds
Feb 26, 2024
Credit of Shares to Demat
Feb 26, 2024
Listing Date
Feb 27, 2024
Cut-off time for UPI mandate confirmation
Feb 22, 2024
IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Feb 19, 2024 |
0.00x | 0.99x | 3.42x | 1.92x |
Day 2Feb 20, 2024 |
3.50x | 1.88x | 8.54x | 5.67x |
Day 3Feb 21, 2024 |
3.54x | 7.98x | 19.42x | 12.43x |
Day 4Feb 22, 2024 |
106.72x | 368.55x | 136.98x | 177.98x |
IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutional Buyers | 106.72x |
| Non-Institutional Buyers | 368.55x |
| Retail Investors | 136.98x |
| Total | 177.98x |
About Zenith Drugs Ltd
Zenith Drugs is a pharmaceutical manufacturing and trading company based out of Indore with its own manufacturing unit. They are specialised in manufacturing both high-quality medicines as well as generic medicines, which are cost-effective. They are WHO-GMP compliant, adhering to World Health Organisation guidelines. They also possess the ISO 9001:2015 certification, obtained from a respected EuroUK certification body.
Initially, they started as a modest manufacturing house for oral and external formulations. However, they later shifted to a Schedule M GMP-compliant unit in 2004, where they started the production of liquid orals and ointments. In 2007, they also started ORS Powder manufacturing.
The market size of India's pharmaceuticals industry is expected to reach US$ 65 billion by 2024, and ~US$ 130 billion by 2030. A growing sector can help in the growth of an organised player like Zenith Drugs.
Zenith Drugs Ltd IPO Details
Zenith Drugs Ltd IPO Dates
The dates for bidding for the Zenith Drugs IPO are February 19, 2024, to February 22, 2024.
Zenith Drugs Ltd IPO Price Band
Zenith Drugs is a book-built IPO. The exact price range is ₹75 to ₹79 per share.
Zenith Drugs Ltd IPO Lot Size
The Zenith Drugs Ltd IPO lot size is 1,600 shares per lot.
Zenith Drugs Ltd IPO Objectives
The net proceeds from the issue are proposed to be utilised towards the following objectives:
- Purchase of machinery and equipment for setting up a new unit.
- Existing manufacturing block upgradation.
- Working capital requirements.
- General corporate purposes.
Peer Details
The following are the listed peer companies of Zenith Drugs in India:
- Sudarshan Pharma Industries Limited
- Sigachi Industries Limited
How To Check the Allotment Status of the Zenith Drugs Ltd 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.
Contact Details of Zenith Drugs Ltd
Registered office: K. No. 72 / 5, Village Muradpura, NA Depalpur, Indore-453001, Madhya Pradesh, India.
Phone: +91 8435501867
E-mail: info@zenithdrugs.com
IPO Financials
| Particulars | Year Ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|
| Total Revenue | 11,569.65 | 9,266.63 | 7,351.57 |
| Net Profit | 515.33 | 313.82 | 302.92 |
| Return on Capital Employed | 37.29% | 30.08% | 36.52% |
| Return on Equity | 35.13% | 29.83% | 40.73% |
Know before investing
Strengths
3-
Zenith's ability to handle both manufacturing and marketing in-house allows for seamless coordination and control over the entire product lifecycle.
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Zenith Drugs has established a strong presence in various international markets worldwide, distinguished by its unique products and competitive pricing. They currently have a presence in countries like Costa Rica, Malawi, Mauritius, Mozambique, Sudan, Tajikistan, Liberia, Sierra Leone, etc.
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Zenith Drugs has a strong track record of regulatory compliance and quality assurance. The company consistently meets or exceeds stringent international standards set by regulatory bodies such as the FDA and WHO, thus adding to its brand.
Risks
3-
The company conducts its business activities on a purchase order basis and, therefore, has not entered into long-term agreements with its customers except for government contracts.
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They have very few suppliers of raw materials and have no long-term supply contracts with them. In the event they are unable to procure adequate amounts of raw materials, at competitive prices their business may be adversely affected.
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They presently have only one major manufacturing facility. Continued operations of our manufacturing facility are critical to their business and any disruption in the operation of their manufacturing facility may have a material adverse effect on the business.
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Zenith Drugs Ltd IPO FAQs
Zenith Drugs IPO is a book-built IPO. The dates for the IPO are February 19, 2024, to February 22, 2024.
The basis of allotment will be finalised on Friday, February 23, 2024. The credit of shares to the demat accounts will take place on Monday, February 26, 2024.
The IPO subscription window is from February 19, 2024, to February 22, 2024.
The lot size for the IPO will be 1,600 shares per lot.
Zenith Drugs Ltd will be listed on the NSE Emerge on Tuesday, February 27, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The date of listing is Tuesday, February 27, 2024.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
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.
