Senores Pharmaceuticals IPO to open for bidding on December 20. Check details
equity sale of Rs 500 crore and an offer for sale (OFS) of 21 lakh shares, will close on December 24.
The offer is being made through the book-building process, wherein about 75% is reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors.
The proceeds from its fresh issuance to the extent of Rs 107 crore will be utilized for funding the capital expenditure requirements in the company’s subsidiary, Havix, for setting up a manufacturing facility for the production of sterile injections in its Atlanta facility while about Rs 93.7 crore for would be utilized for the repayment of debt.
Additionally, Rs 102.74 crore are proposed to be used for funding the working capital requirements of the company and funding inorganic growth through acquisition and other strategic initiatives and the remaining for general corporate purposes.
Senores Pharmaceuticals specializes in identifying, developing, and manufacturing a wide array of specialty, underserved, and complex pharmaceutical products, positioning itself as a preferred partner for select customers.
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