1 week Ago
Senores Pharmaceuticals IPO Day 3 Live Updates: Senores Pharmaceuticals' initial public offering achieved a subscription rate of 13.93 times on Monday, which marked the second day of bidding. The initial share sale, valued at 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. Senores Pharmaceuticals IPO Day 3 Live Updates: Canara Bank Securities has a ‘Subscribe’ tag for the issue 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 valuation appears favorable, trading at a Price-to-Earnings (P/E) ratio of 28x based on projected FY24 earnings, in comparison to the peer average P/E of 31x, offering a well-rounded investment opportunity.
The foundation for future growth lies in Senores' expanding portfolio of products and strategic entry into mid-tier markets such as the EU, Australia, and Latin America, setting the stage for ongoing revenue diversification and margin growth. We advise subscribing to this issue for potential listing and long-term benefits. Senores Pharmaceuticals IPO Day 3 Live Updates: Here's what GMP hints ahead of third bidding day Senores Pharma IPO GMP today or Senores Pharmaceuticals IPO grey market premium is +230.
This indicates Senores Pharmaceuticals share price were trading at a premium of 230 in the grey market, according to investorgain.com. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Senores Pharmaceuticals share price was indicated at 621 apiece, which is 58.
82% higher than the IPO price of 391. Based on the grey market activities observed over the past nine sessions, the IPO GMP shows an upward trend today, indicating a robust listing. The minimum GMP recorded is 0, while the maximum is 230, as per experts from investorgain.
com. 'Grey market premium' indicates investors' readiness to pay more than the issue price..
