Senores Pharma IPO listing today. GMP hints at solid gains on debut
Senores Pharmaceuticals will debut on the exchanges on Monday. Ahead of the listing, the company's shares were trading with a GMP of Rs 284 in the grey market.
Considering the upper price band of Rs 391, the stock is expected to list at a premium of 70% or above the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO of Senores Pharmaceuticals received robust response from investors with an overall subscription of over 93.41 times at close.
At the upper price band, the company is valued at P/E of 55x with a market cap of Rs 1801 crore post issue of equity shares and return on net worth of 23.6% based on FY24.
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