New Delhi: The Senores Pharmaceuticals Ltd initial public offering (IPO) has garnered significant interest from investors, with the grey market premium (GMP) indicating promising returns. As the subscription period nears its end on December 24, 2024, here’s a detailed overview of the IPO’s performance, financials, and what investors can expect.
IPO Overview
The Senores Pharmaceuticals IPO opened for subscription on December 20, 2024, and will close tomorrow. The price band for the IPO is set between ₹372 and ₹391 per share, with a total issue size of approximately ₹582.11 crore, which includes a fresh issue of ₹500 crore and an offer for sale (OFS) of ₹82.11 crore.
Key Details:
- IPO Price Band: ₹372 – ₹391 per share
- Lot Size: 38 shares
- Minimum Investment: ₹14,858
Subscription Status
As of December 20, the Senores Pharmaceuticals IPO has been well-received, achieving a subscription rate of 1.78 times. The breakdown of subscriptions is as follows:
- Retail Individual Investors (RIIs): Subscribed 7.19 times
- Non-Institutional Investors (NIIs): Subscribed 1.67 times
- Qualified Institutional Buyers (QIBs): Subscribed 1%
This robust demand reflects strong investor confidence in the company’s potential.
Grey Market Premium (GMP)
The grey market premium for the Senores Pharmaceuticals IPO has shown a positive trend, currently standing at ₹215 per share as of December 23. This indicates that shares are expected to list at around ₹606, suggesting potential listing gains of nearly 55%.
| Date | GMP | Estimated Listing Price |
|---|---|---|
| December 23 | ₹215 | ₹606 |
| December 22 | ₹215 | ₹606 |
| December 21 | ₹200 | ₹591 |
| December 20 | ₹190 | ₹581 |
Company Financials
Senores Pharmaceuticals has demonstrated strong financial growth:
- The company raised approximately ₹261 crore from anchor investors, including notable fund houses such as Aditya Birla Sun Life Insurance Company and ICICI Prudential Mutual Fund.
- The funds raised will be utilized for various purposes, including capital expenditures and working capital requirements.
Important Dates
Here are the key dates associated with the Senores Pharmaceuticals IPO:
| Event | Date |
|---|---|
| IPO Open Date | December 20, 2024 |
| IPO Close Date | December 24, 2024 |
| Basis of Allotment | December 26, 2024 |
| Refunds | December 27, 2024 |
| Credit to Demat Account | December 27, 2024 |
| IPO Listing Date | December 30, 2024 |
Should You Apply?
Given the strong subscription figures and positive GMP trends, many analysts recommend considering an investment in this IPO. The robust demand from retail investors and institutional backing indicates confidence in the company’s growth potential.
Expert Opinions
Market experts have expressed optimism about the Senores Pharmaceuticals IPO:
- Analysts highlight that the company’s strategic focus on expanding its product offerings and market presence positions it well for future growth.
- The high GMP suggests that investors may see substantial returns upon listing.
Conclusion
With only one day left before the Senores Pharmaceuticals IPO closes for subscription, prospective investors should assess their options carefully based on subscription status and GMP trends. The strong demand and positive market sentiment indicate that this IPO could present an attractive investment opportunity.
Disclaimer
This article is intended for informational purposes only and does not constitute financial advice. Investors should conduct their own research or consult with financial advisors before making investment decisions related to IPOs or any other financial instruments.
