Senores Pharmaceuticals IPO
Open MainLineCurrent GMP
₹284 (+72.63%)
Price Band
₹ 372 – 391
Lot Size
38
Issue Size
₹582.11 Cr
Minimum Investment
₹14858 (38 Shares)
Listing Date
30 December 2024
Subscription
93.41x
About the Company
Senores Pharmaceuticals Limited is a global, research-driven pharmaceutical company specializing in the development and manufacturing of a broad range of pharmaceutical products. The company focuses predominantly on regulated markets such as the US, Canada, and the United Kingdom, while also having a strong presence in emerging markets. It offers products across various therapeutic areas and dosage forms. Senores Pharmaceuticals is known for its expertise in identifying and developing specialty, underpenetrated, and complex pharmaceutical products, which positions it as a preferred partner for several key customers in the industry.
The company's strategy is based on leveraging its R&D capabilities, market analytics, and experienced management to launch commercially underpenetrated molecules, thus creating a differentiated portfolio. This approach has led to strategic partnerships with companies such as Prasco LLC, Lannett Company Inc., Jubilant Cadista Pharmaceuticals Inc., and others in the regulated markets.
Key Business Segments:
- Regulated Markets Business:
- Senores operates its regulated markets business through two subsidiaries: Havix (which houses a US FDA-approved facility in Atlanta) and SPI (which handles intellectual property for ANDA approvals).
- The company markets its products in the US, Canada, and the UK, primarily via marketing and distribution partnerships. It also engages in Contract Development and Manufacturing Operations (CDMO/CMO), providing services like formulation development, manufacturing, and regulatory support.
- Senores has received approval for 19 ANDAs, with 21 products commercialized in the US and Canada. These include products such as Acetaminophen Butalbital, Chlorzoxazone, Diclofenac Potassium, and Mexiletine Hydrochloride, with some having competitive generic therapeutic (CGT) designations, granting exclusive marketing rights for a limited period.
- Emerging Markets Business:
- The company manufactures products for emerging markets at its WHO-GMP-approved facility in Chhatral, Gujarat. It serves 43 countries and has registered 205 products while filing 406 more.
- Products in these markets include complex molecules, many of which are patented in the US and not yet available in certain emerging markets.
- The Emerging Markets segment also includes critical care injectables and Active Pharmaceutical Ingredients (APIs), with products distributed in India and other countries in the SAARC region.
- R&D Capabilities:
- Senores Pharmaceuticals is R&D-driven, with a portfolio spanning a variety of dosage forms and therapeutic areas. It has three dedicated R&D facilities in India and the US and is consolidating them into one facility in Ahmedabad.
- The company's R&D strength lies in its ability to identify and develop complex products with limited competition in high-growth therapeutic areas.
- Critical Care and API Businesses:
- The company launched its Critical Care Injectables Business in 2022, targeting hospitals across India with products in areas such as antibiotics and antifungals.
- It also manufactures APIs at its Naroda Facility and is setting up a new facility in Chhatral to support the manufacture of APIs for both domestic and regulated markets.
Management and Leadership:
- Senores Pharmaceuticals is led by experienced industry professionals, including promoters Swapnil Jatinbhai Shah and Ashokkumar Vijaysinh Barot, who have over 15 and 21 years of experience in the pharmaceutical industry, respectively. The management team includes experts with deep sectoral knowledge to guide the company’s operations and strategic decisions.
In summary, Senores Pharmaceuticals Limited is a dynamic, globally-focused company with a diverse product portfolio, strong R&D capabilities, and a clear strategy for growth in both regulated and emerging markets. It continues to expand its reach and product offerings through innovation and strategic partnerships.
Promoters
- Swapnil Jatinbhai Shah
- Ashokkumar Vijaysinh Barot
Promoters Holding
Holding Pre Issue
71.10%
Holding Post Issue
45.77%
Objects of the Issue
The Company proposes to utilise the Net Proceeds towards funding the following objects:
- Investment in one of the Subsidiaries, Havix Group, Inc. d/b/aAavis Pharmaceuticals(“Havix”), to fund capital expenditure requirements for setting up a manufacturing facility for the production of sterile injections in the Atlanta Facility.
- Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company.
- Investment in the Subsidiary, namely, Havix, for re-payment/pre-payment in whole or part of certain borrowings availed by such Subsidiary.
- Funding the working capital requirements of the Company.
- Investment in the Subsidiaries, namely, Senores Pharmaceuticals Inc. (“SPI”)and Ratnatris Pharmaceutical Private Limited (“Ratnatris”), to fund their working capital requirements.
- Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes.
Address / Contact Info
Senores Pharmaceuticals Limited
1101 to 1103, 11th floor, South Tower, ONE 42
opposite Jayantilal Park, Ambali Bopal Road,
Ahmedabad, Gujarat-380054
Phone: +91-79-29999857
Email: cs@senorespharma.com
Website: https://senorespharma.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Friday, 20 December 2024
IPO Close Date
Tuesday, 24 December 2024
Basis of Allotment
Thursday, 26 December 2024
Initiation of Refunds
Friday, 27 December 2024
Credit of Shares to Demat
Friday, 27 December 2024
Listing Date
Monday, 30 December 2024 — NSE & BSE
Important Dates
Open Date
20 December 2024
Close Date
24 December 2024
Basis Of Allotment
26 December 2024
Listing Date
30 December 2024
Financial Performance (₹ in Crores)
| Particular | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 678.08 | 621.88 | 131.05 | 59.15 |
| Revenue | 183.35 | 217.34 | 39.02 | 14.63 |
| Profit After Tax | 23.94 | 32.71 | 8.43 | 0.99 |
| Net Worth | 319.06 | 231.71 | 45.5 | 36.59 |
| Reserve & Surplus | 263.36 | 175.94 | 35.25 | 25.37 |
| Total Borrowings | 242.03 | 248.38 | 60.76 | 14.21 |
EPS Pre
9.83%
EPS Post
13.86%
P/E Pre
39.77
P/E (Post Issue)
28.21x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI as of Sun, Mar 31, 2024. |
|---|---|
| ROE % | 23.6 |
| ROCE % | 11.73 |
| Debt / Equity | 1.07 |
| RoNW % | 23.6 |
| PbW | 0 |
| Pat Margin % | 15.25 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Anchor Investors | 6665725 | 45 | 0 |
| Qualified Institutions | 4443817 | 30 | 0 |
| Non-Institutional | 2221909 | 15 | 0 |
| BNII | 1518605 | 10.25 | 0 |
| SNII | 703304 | 4.75 | 0 |
| Retail Investors | 1481272 | 10 | 0 |
| Total | 14812723 | 100 | 0 |
Subscription Status ( Tue, 24 Dec 24 01:02 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 4593216 | 434778102 | 94.66x |
| Non-Institutional | 2319879 | 222963632 | 96.11x |
| BNII | 1546586 | 144653764 | 93.53x |
| SNII | 773293 | 78309868 | 101.27x |
| Retail Investors | 1546586 | 137996088 | 89.23x |
| Employees | 75000 | 1494122 | 19.92x |
| Total | 8534681 | 797231944 | 93.41x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 38 | 14,858.00 |
| Retail (Max) | 13 | 494 | 193,154.00 |
| S-HNI (Min) | 14 | 532 | 208,012.00 |
| S-HNI (Max) | 67 | 2,546 | 995,486.00 |
| B-HNI (Min) | 68 | 2,584 | 1,010,344.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Ambit Private Limited
- Equirus Capital Private Limited
- Nuvama Wealth Management Limited
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Senores Pharmaceuticals IPO is a Book-building IPO worth ₹582.11 crores. The price band is ₹372 to 391 per share. The IPO opens on Fri, Dec 20, 2024 and closes on Tue, Dec 24, 2024. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The Senores Pharmaceuticals IPO opens on Fri, Dec 20, 2024 and closes on Tue, Dec 24, 2024
Senores Pharmaceuticals IPO Price Band is ₹372 to 391.
Senores Pharmaceuticals IPO lot size is 38, and the minimum amount required for application is ₹14858.
The minimum investment for Senores Pharmaceuticals IPO is approximately ₹14858 based on the upper price band.
To apply for the Senores Pharmaceuticals IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Tue, Dec 24, 2024. After submission, funds are blocked until the basis of allotment of Senores Pharmaceuticals IPO is finalised.
Senores Pharmaceuticals IPO issue size is ₹582.11 crores.
Senores Pharmaceuticals IPO allotment date is Sat, Jun 27, 2026.
The registrar for Senores Pharmaceuticals IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to Senores Pharmaceuticals IPO through their official website or helpline.
The Senores Pharmaceuticals IPO GMP (Grey Market Premium) is ₹284 as of Mon, Dec 30, 2024. Based on the upper price band of ₹391 per share, the estimated Senores Pharmaceuticals IPO listing price is ₹675, indicating a potential listing gain of approximately 31% over the issue price.