Senores Pharmaceuticals Limited’s Initial Public Offering to open on Friday, December 20, 2024, price band set at ₹372/- to ₹391/- per Equity Share
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The Initial
Public Offering (“IPO” or “Offer”) of the Company will open on Friday, December 20, 2024, for subscription and close on Tuesday, December
24, 2024. Investors can bid for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter.
The IPO is a mix of fresh
issue of up to Rs 500 crore and an offer of sale of up to 21,00,000 shares. The
offer includes a reservation of up to 75,000 equity shares for subscription by
eligible employees under the employee reservation portion.
The proceeds from its
fresh issuance will be utilized to the extent of Rs 107 crore for investment in
one of its Subsidiaries, Havix, to fund capital expenditure requirements, to
fund capital expenditure requirements for setting up a manufacturing facility
for the production of sterile injections in its Atlanta Facility; Rs 73.48 for
re-payment/pre-payment, in full or in part, of certain borrowings availed by
the Company; Rs 20.22 crore for investment in its Subsidiary, namely, Havix,
for re- payment/pre-payment in full or in part, of certain borrowings availed
by such Subsidiary; Rs 43.26 crore for funding the working capital requirements
of the Company; Rs 59.48 crore for investment in its Subsidiaries, namely, SPI
and Ratnatris to fund their working capital requirements; and funding inorganic
growth through acquisition and other strategic initiatives and general
corporate purposes.
Senores Pharmaceuticals operates
a critical care injectables business, supplying critical care injectables to
hospitals across India through distributors, and manufacture APIs for the
domestic market and SAARC countries. It identifies, develops, and manufactures a
wide range of specialty and complex pharmaceutical products, making it a
preferred partner for key customers. By leveraging data analytics, research,
and its experienced management, the company strategically targets
underpenetrated molecules in both Regulated and Emerging Markets. Its strong
R&D capabilities enable the development of differentiated products, with a
focus on quality and complex molecules. The company has built a robust
pipeline, demonstrated through partnerships in the US, Canada, and the UK with
major pharmaceutical companies such as Prasco LLC, Jubilant Cadista
Pharmaceuticals, Alkem Laboratories Limited, Sun Pharmaceuticals
Industries Limited, Dr. Reddy’s Laboratories Inc., and Cipla USA Inc.
The Company primarily
focused on Regulated Markets in the US, Canada, and the UK, also has a presence
in 43 Emerging Markets. Its business operates under two models for its Regulated
Markets Business: Marketed Products (including ANDA and sourced
products) and contract development and manufacturing operations (“CDMO”)/
contract manufacturing operations (“CMO”). The company’s
portfolio includes 21 commercialized products, 19 approved ANDAs, 4 CGT
designations, 6 filed ANDAs, and 45 products in its pipeline.
The Offer is being made through the book-building process, wherein not
less than 75% of the net offer shall be available for allocation on a
proportionate basis to qualified institutional buyers, not more than 15% of the
net offer shall be available for allocation to non-institutional investors, and
not more than 10% of the net offer shall be available for allocation to retail
individual investors.
Notes for Reference:
Issue Size of the IPO based on the
upper and lower end of the price band
|
|
Fresh |
OFS
(21,00,000 equity shares) |
Total |
|
Lower
Band (@Rs 372) |
Rs 500
crore |
Rs 78.12
crore |
Rs 578.12 crore |
|
Upper
Band (@Rs 391) |
Rs 500
crore |
Rs 82.11
crore |
Rs 582.11 crore |
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