Senores Pharmaceuticals Ltd. will launch its initial public offering on Dec. 20 at a price band of Rs 372 to Rs 391 per share.

The Ahmedabad-based pharmaceutical firm’s IPO will comprise of a fresh issue of shares worth Rs 500 crore, and an offer-for-sale of 21 lakh shares by promoters and other shareholders worth Rs 82.1 crore. The maiden issue will be worth Rs 582.11 crore, and the market value at the upper end of the price band will be Rs 1,801 crore.

Promoters Swapnil Jatinbhai Shah and Ashokkumar Vijaysinh Barot are offloading 2.5 lakh and 5.5 lakh shares, respectively. Other shareholders selling shares include Sangeeta Mukur Barot and Prakash M Sanghvi.

The anchor book portion for the IPO will be launched on Dec. 19. Following the public issue, shares of Senores Pharmaceuticals will be listed on the NSE and the BSE.

Equirus Capital Pvt., Ambit Pvt., and Nuvama Wealth Management Ltd. are the book-running lead managers for the IPO, whereas Link Intime India Pvt. is the registrar for the issue.

Use Of Proceeds

The company proposes to use the proceeds of the issue:

  • As an investment in subsidiary Havix Group Inc. to fund capital expenditure requirements for setting up a sterile-injection manufacturing facility in Atlanta.

  • Repayment of borrowings by the company and its subsidiary.

  • Funding the working capital requirements of the company and its subsidiaries.

  • Funding inorganic growth through acquisition and other initiatives and general corporate purposes.

Senores Pharmaceuticals Business

Senores Pharmaceuticals Ltd. is a global research driven pharmaceutical company engaged in developing and manufacturing a wide range of pharmaceutical products predominantly for the Regulated Markets of US, Canada and United Kingdom across various therapeutic areas and dosage forms. They have a presence in emerging markets across 43 countries. The company also manufactures critical care injectables and APIs.

As of Nov. 30, 2024, the pharmaceutical maker had Rs 171.87 crore of debt on its books.

. Read more on IPOs by NDTV Profit.The Senores Pharma IPO will be worth Rs 582.11 crore and comprises both a fresh issue and an offer for sale.  Read MoreIPOs, Markets, Notifications 

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