Senores Pharmaceuticals IPO Day 3 Live Updates: Issue booked 13.93 times so far led by retail investors. Check GMP, more
₹582 crore, attracted bids for 11,89,06,826 shares compared to the 85,34,681 shares available, according to NSE data.The portion allocated for Retail Individual Investors (RIIs) experienced a subscription rate of 38.41 times, while the segment for non-institutional investors saw a 24.63 times subscription. The Qualified Institutional Buyers (QIBs) portion received a subscription of 35 percent.
The employee segment was subscribed 10.14 times.Senores Pharmaceuticals Ltd announced on Thursday that it has raised approximately ₹261 crore from anchor investors. The IPO is set to close on December 24.
The price range for the IPO is between ₹372 and ₹391 per share. The Ahmedabad-based firm’s IPO includes a fresh issuance of shares totaling ₹500 crore and an Offer-for-Sale (OFS) of up to 21 lakh shares worth ₹82.11 crore, offered by promoters and other selling shareholders, at the upper price point.Funds from the new issue will be allocated for establishing a manufacturing plant for sterile injection production at its Atlanta site; covering the working capital needs of the company and its subsidiaries, facilitating growth through acquisitions and other strategic initiatives, and repaying debt.
Additionally, part of the funds will be utilized for general corporate purposes.Senores Pharmaceuticals focuses on pinpointing, developing, and producing a diverse range of specialized, underserved, and intricate pharmaceutical products, thereby positioning itself as a preferred partner for select clients.Stay tuned for more updates Despite facing various challenges, Senores displays impressive financial performance with a Return on Equity (RoE) of 23.6%, which notably exceeds the average of 16.96% among its peers. The company's current
. Read more on livemint.com
