Senores Pharmaceuticals Ltd
Senores Pharmaceuticals Ltd, a global research-driven pharmaceutical company, is set to launch its Initial Public Offering (IPO) on December 20, 2024. The company specializes in developing and manufacturing a wide range of pharmaceutical products, primarily targeting regulated markets such as the US, Canada, and the UK, while also maintaining a presence in emerging markets across 43 countries.
Company Overview
Established in December 2017, Senores Pharmaceuticals has rapidly expanded its product portfolio, focusing on specialty, underpenetrated, and complex pharmaceutical products. As of September 30, 2024, the company has launched 55 products in key therapeutic areas, including antibiotics and antifungal treatments. The company operates three dedicated R&D facilities in India and the US, and its manufacturing unit is situated in Ahmedabad, Gujarat.
IPO Timeline
- IPO Opening Date: December 20, 2024
- IPO Closing Date: December 24, 2024
- Basis of Allotment: December 26, 2024
- Initiation of Refunds: December 27, 2024
- Credit of Shares to Demat Accounts: December 27, 2024
- Listing Date: December 30, 2024
Price Band and Lot Size
- Price Band: ₹372 to ₹391 per share
- Lot Size: 38 shares
- Minimum Investment: ₹14,858 (at the upper price band)
Key Dates
- Anchor Investor Bidding Date: December 19, 2024
- Finalization of Basis of Allotment: December 26, 2024
- Commencement of Trading: December 30, 2024
Financials
Senores Pharmaceuticals has demonstrated significant growth in recent years:
| Financial Metric | FY2022 | FY2023 | FY2024 |
|---|---|---|---|
| Revenue from Operations (₹ crore) | 14.63 | 39.02 | 217.34 |
| Profit After Tax (₹ crore) | 0.99 | 8.43 | 32.71 |
Strengths
- Diverse Product Portfolio: The company offers a wide range of pharmaceutical products across various therapeutic areas.
- Regulatory Approvals: Possesses approvals from major regulatory bodies, facilitating access to regulated markets.
- Robust R&D Capabilities: Operates dedicated R&D facilities driving product innovation.
- Strategic Market Presence: Established presence in both regulated and emerging markets.
Risks
- Market Dependency: Significant revenue dependence on the US market; any decline in demand could impact financial performance.
- Supplier Concentration: Reliance on limited suppliers, including sole suppliers for certain APIs, may pose supply chain risks.
- Regulatory Challenges: Operating in highly regulated markets subjects the company to stringent compliance requirements.
IPO Anchor Investors Details
Details regarding anchor investors will be available after the anchor investor bidding date on December 19, 2024.
IPO Promoter Holding
| Promoter Name | Pre-IPO Holding (%) | Post-IPO Holding (%) |
|---|---|---|
| Swapnil Jatinbhai Shah | 11.43 | To be updated |
| Ashokkumar Vijaysinh Barot | 11.96 | To be updated |
IPO Grey Market Premium (GMP)
As of December 19, 2024, the Grey Market Premium for Senores Pharmaceuticals IPO is approximately ₹150, indicating a potential listing price of ₹541 per share, which is a 38.36% premium over the upper price band.
Final Thoughts
Senores Pharmaceuticals Ltd’s upcoming IPO presents an opportunity for investors interested in the pharmaceutical sector, particularly those focusing on companies with a strong presence in regulated markets. Potential investors should carefully consider the company’s financial performance, market strengths, and associated risks before making investment decisions.