SENORES PHARMACEUTICALS LIMITED

Price Band

₹ 372 - ₹ 391

Bid Lot

38 Shares

SENORES PHARMACEUTICALS LIMITED

20-Dec-2024 - 24-Dec-2024

Price Band

₹ 372 - ₹ 391

Minimum Investment

₹ 14858.00

Bid Lot

38 Shares

Shares

14,812,723

IPO Details

Fresh Issue of Equity Shares aggregating upto Rs. 500 Cr and Offer for Sale of up to 2,100,000 Equity Shares

QIB
75%

(11,109,543 Shares)RS.434.38 CR

HNI 1
5%

(740,636 Shares)RS.28.96 CR @ 1322 FORM 1X

HNI 2
10%

(1,481,272 Shares)RS.57.92 CR @ 2644 FORM 1X

Retail
10%

(1,481,272 Shares)RS.57.92 CR @ 129560 FORM 1X

Employee
0%

(75,000 Shares)RS.2.79 CR

BRLMs: Equirus Capital, Ambit Pvt Ltd, Nuvama Wealth

Timeline

  • 20

    Dec-2024

    Open Date

  • 24

    Dec-2024

    Close Date

  • 26

    Dec-2024

    Basis of Allotment Date

  • 27

    Dec-2024

    Initiation of Refunds

  • 27

    Dec-2024

    Credit of Shares to Demat A/C

  • 30

    Dec-2024

    IPO Listing Date

Subscription as on 24-Dec-2024 16:35

Category

Book Size

Subscription

QIB

97.84x
4,443,818

(₹173.75 Cr.)

434,778,102

(₹16999.82 Cr.)

HNI (<10 LAKH)

105.41x
740,636

(₹28.96 Cr.)

78,070,544

(₹3052.56 Cr.)

HNI2 (>10 LAKH)

97.66x
1,481,272

(₹57.92 Cr.)

144,653,764

(₹5655.96 Cr.)

RETAIL

91.84x
1,481,272

(₹57.92 Cr.)

136,041,558

(₹5319.22 Cr.)

Total

97.40x
8,146,998
793,543,968

Category

Book Size

Subscription

QIB

97.84x
4,443,818

(₹173.75 Cr.)

434,778,102

(₹16999.82 Cr.)

HNI (<10 LAKH)

105.41x
740,636

(₹28.96 Cr.)

78,070,544

(₹3052.56 Cr.)

HNI2 (>10 LAKH)

97.66x
1,481,272

(₹57.92 Cr.)

144,653,764

(₹5655.96 Cr.)

RETAIL

91.84x
1,481,272

(₹57.92 Cr.)

136,041,558

(₹5319.22 Cr.)

Total

97.40x
8,146,998
793,543,968

*Excluding Anchor

Total No. of Application Approx : ~3661074 (93.92 Appwise)

HNI Cost

About Company

  • Senores Pharmaceuticals (“Senores”) was originally incorporated on 26th December 2007. Senores is the 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, with a presence in Emerging Markets. Through data analytics, research, market assessment and experienced management, they strategically identify commercially underpenetrated molecules to launch products in the Regulated and Emerging Markets.

  • Company’s Regulated Markets Business is carried out through their 2 subsidiary companies, Havix, which houses their US FDA approved oral solid dosage (“OSD”) facility at Atlanta, US and SPI, a US based company holding the intellectual property used by the company, specifically for their ANDA approvals and enters into agreement with their marketing partners.

  • Company’s curated complex products spanning diverse dosage forms and therapeutic domains, demonstrated through their partnerships in the Regulated Markets of US, Canada and United Kingdom with foreign and Indian pharmaceutical companies including Prasco LLC, Lannett Company Inc., Jubilant Cadista Pharmaceuticals Inc., Alkem Laboratories Ltd, Sun Pharmaceuticals Industries Ltd, Dr. Reddy’s Laboratories Inc. and Cipla USA Inc.

  • In the CDMO segment, they have partnered with companies such as Ajanta Pharma Ltd and La Renon Healthcare Pvt Ltd to develop and manufacture complex oral solids and injectables for India and in other countries within the Emerging Markets.

  • Senores has presence in the Emerging Markets and are currently marketing their products in 43 countries with specific focus on Latin America, Africa, Commonwealth of Independent States, South-East Asia and Middle East regions.

  • Their strategy of product selection has helped them to rapidly grow their business in the Emerging Markets. As of September 30, 2024, they have a product portfolio of 205 products and combination molecules which are launched and are marketed under various models across the world in the Emerging Markets. In Fiscal 2024 the revenue from the Emerging Market Business was ? 44.20 crore, which amounted to 20.60% of the revenue from operations for Fiscal 2024.

Strengths

Competitive Strength

  • Ability to cater to the Regulated Markets of US, Canada and the United Kingdon through US FDA approved formulation manufacturing facility in the US;

  • Distinct niche product portfolio built in a short span for Regulated Markets;

  • Long-term marketing arrangements with pharmaceutical companies in the Regulated Markets of US, Canada and the United Kingdom;

  • Presence in the Emerging Markets with a product portfolio, including specialty or complex products;

  • Robust R&D capabilities driving the differentiated portfolio of products;

  • Professional and dedicated management teams for the diverse business verticals

Business Strategies

  • Enhance market presence of the Marketed Products in North America and other Regulated Markets;

  • Launch of products in the US with New Drug Applications (“NDA”) approval;

  • Expanding into new Regulated and Emerging Markets;

  • Strategic alliance for CMO/ CDMO in Regulated Markets;

  • Pursuing an integrated approach to the business by enhancing the capabilities for greater backward integration;

  • Inorganic growth through synergistic acquisitions.

Company Promoters

Company Financials

Senores Pharmaceuticals Limited's revenue increased by 457% and profit after tax (PAT) rose by 288% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended 30 Sep 2024 31 Mar 2024 31 Mar 2023 31 Mar 2022
Assets 678.08 621.88 131.05 59.15
Revenue 183.35 217.34 39.02 14.63
Profit After Tax 23.94 32.71 8.43 0.99
Net Worth 319.06 231.71 45.5 36.59
Reserves and Surplus 263.36 175.94 35.25 25.37
Total Borrowing 242.03 248.38 60.76 14.21
Amount in ? Crore

Objects of the Issue

The Company proposes to utilise the Net Proceeds towards funding the following objects:

  1. Investment in one of the Subsidiaries, Havix Group, Inc. d/b/aAavis Pharmaceuticals(“Havix”), to fund capital expenditure requirements for setting up a manufacturing facility for the production of sterile injections in the Atlanta Facility;
  2. Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company;
  3. Investment in the Subsidiary, namely, Havix, for re-payment/pre-payment in whole or part of certain borrowings availed by such Subsidiary;
  4. Funding the working capital requirements of the Company;
  5. Investment in the Subsidiaries, namely, Senores Pharmaceuticals Inc. (“SPI”)and Ratnatris Pharmaceutical Private Limited (“Ratnatris”), to fund their working capital requirements.
  6. Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes.

How to Apply

Apply for IPO in few simple steps.

  • Step 1

    Once you create your account, Login to Easy Investing.

  • Step 2

    Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.

  • Step 3

    Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).

  • Step 4

    Enter your UPI ID and you will receive mandate on your UPI App.

  • Step 5

    Once you accept the mandate, Application is submitted successful.

  • Applying for an IPO is easier than ever with Easy Investing, in just a few clicks your application is processed. You can bid for any IPO through Easy Investing, the bidding process is simple and hassle free. Every company has a lot size decided & you can buy in multiples of the decided lot.
  • If lot size is 15, then you have to bid for multiples of 15 share like 30,45,60 and so on.
  • The maximum subscription amount for retail investors is 2 lakh.
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  • Enter the number of shares you wish to buy, as per the lot size.
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  • Maximum three bids will be accepted.
  • You then need to enter the UPI ID on Easy Investing’s IPO application form.

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  • The funds will be blocked in your bank account until allotment when it is debited.
  • The limit for IPO application is Rs 2 lakh per transaction on UPI.
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