Shares of Senores Pharmaceuticals Ltd. debuted on the National Stock Exchange at Rs 600 apiece, at a premium of 53.45% over issue price of Rs 391. The stock listed on the BSE at Rs 593.70 per share, marking a premium of 51.84%.

Senores Pharmaceuticals’ IPO, which closed on Dec. 24, was subscribed 93.41 times, with demand led by non-institutional investors. The Rs 582.1-crore offering consists of a fresh issue of Rs 500 crore and an offer for sale of Rs 82.1 crore.

The company also raised Rs 261 crore from anchor investors a day before its IPO opened for bidding.

Proceeds from the issue will be utilised towards investment in one of its subsidiaries, Havix Group Inc., which does business under the name of Aavis Pharmaceuticals, to fund capital-expenditure requirements for setting up a manufacturing facility for the production of sterile injections at its Atlanta facility, and more.

Equirus Capital Private Ltd., Ambit Private Ltd., Nuvama Wealth Management Ltd. are the book running lead managers of the Senores Pharmaceuticals IPO, while Link Intime India Pvt. Ltd. is the registrar for the issue.

Senores Pharmaceuticals Business

Senores Pharmaceuticals is a global research-driven pharmaceutical company engaged in developing and manufacturing a wide range of generic pharmaceutical products in the B2B segment, predominantly for the regulated markets across various therapeutic areas and dosage forms. Its regulated markets business is primarily focused on the US, Canada and the United Kingdom.

The company has adopted a strategy of identifying, developing and commercialising specialty and complex niche products in the mid-market range and as of March 31, they have received approvals for 19 abbreviated new drug applications.

It develops and manufactures generic pharmaceutical products across various therapeutic areas for emerging markets in the B2B segment, having a presence across 43 countries.

The company also operates a critical care injectables business, supplying critical care injectables to hospitals across India through distributors, and manufactures APIs for the domestic market and Saarc countries.

. Read more on Markets by NDTV Profit.The Rs 582.1-crore Senores Pharmaceuticals offering consists of a fresh issue of Rs 500 crore and an offer for sale of Rs 82.1 crore.  Read MoreMarkets, Business 

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