Ahmedabad based Pharmaceutical Company Senores Pharmaceuticals files DRHP with SEBI for the proposed IPO; Key Details here

Senores Pharmaceuticals is into Healthcare & Pharmaceuticals Pharmaceutical and is looking raise funds through Fresh Issue and Offer For Sale

Senores PharmaceuticalsIPO: Fresh Issue of Equity shares aggregating up to Rs.500 crores. Offer of Sale of 2,700,000 Equity Shares through public issue IPO

Senores Pharmaceuticals IPO: Senores Pharmaceuticals Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.

Promoters of Senores Pharmaceuticals are Swapnil Jatinbhai Shah and Ashokkumar Vijaysinh Barot and holds 66.67% stake in the company.

Key Details:

• Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 500 crores and an Offer for Sale of Up to 2,700,000 Equity Shares.
• Equirus Capital, Ambit have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 500 Crs and offer-for-sale (OFS) of up to 2,700,000 equity shares by OFS consists of 1,700,000 Equity shares is from Promoter and Promoters Group Selling Shareholders...

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Objects of the issue:
1) Investment in subsidiary towards a) Rs107 cr capex , 2) Rs93.7 cr towards debt repayment/pre-payment of the company and subsidiary, 3) Rs102.7 cr towards working capital of the company and its subsidiaries., 4) Funding inorganic growth opportunities and general corporate purpose.

About Company:
Established in 2017, Senores Pharma is research driven pharmaceutical company engaged in developing and manufacturing generic pharmaceutical products in the B2B segment predominantly for the Regulated Markets across various therapeutic areas and dosage forms. Company received approvals for 19 ANDAs as on FY24. Company has presence into 43 countries. It also operate 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.

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About Industry:
As per the F&S Report, the US pharmaceutical market increased from USD 589.0 billion in CY 2021 to USD 711.0 billion in CY 2023. The US CDMO market grew from USD 36.3 billion in CY 2021 to USD 44.7 billion in CY 2023. The Emerging pharmaceutical market rose from USD 354.3 billion in CY 2021 to USD 376.3 billion in CY 2023. The Indian hospital channel market expanded from USD 3.9-4.7 billion in CY 2021 to USD 4.7-5.7 billion in CY 2023 while the India API market increased from USD 11.5 billion to USD 13.1 billion in the same period.

Source: SEBI, BSE, NSE, DRHP, Senores Pharmaceuticals, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.