Senores Pharmaceuticals IPO GMP : The IPO of pharma company, Sinores Pharmaceuticals, has opened for retail investors today on 20 December 2024. This IPO can be subscribed till 24 December 2024. The company has fixed the price band for the IPO at Rs 668 to Rs 704 per share. The size of the IPO is Rs 582.11 crore. Whereas the lot size is 38 shares. On the very first day of IPO, there is a lot of craze regarding it in the gray market. At the same time, brokerage houses are also positive about this.
The IPO of Senores Pharmaceuticals Limited has a fresh equity issue of Rs 500 crore. While there is also an Offer for Sale (OFS) worth Rs 82.11 crore. In this IPO, 75% share is for QIB, 15% share is for NII and 10% share is for retail investors. Shares will be allotted on 26th December, while its listing will take place on BSE and NSE on 30th December.
IPO News: Superhit show of IPO continues in the year 2024, now International Gemological gave 21% return on listing.
Senores Pharma IPO: Brokerage View
Brokerage house SBI Securities has given Subscribe rating on the IPO of Senores Pharma. The brokerage says that compared to its nearest peers, the issue appears to be fairly priced based on different valuations and financial parameters. The brokerage has advised investors to subscribe to this IPO at the cut-off price with a long-term investment perspective.
Brokerage house Anand Rathi has also given Subscribe rating on the IPO of Senores Pharma. The brokerage says Senores Pharma develops and manufactures a range of pharmaceutical products primarily for the regulated markets of the US, Canada and the UK. It also provides services in emerging markets. With a presence in 43 countries, the company focuses on critical care injectables, APIs and complex specialty pharmaceutical products.
Zomato: Loss making stock. How Zomato became a multibagger, the whole journey of getting ahead of many big companies.
GMP: High premium in gray market
There is a craze in the gray market regarding the IPO of Senores Pharma. The unlisted stock of the company is trading at a premium of Rs 150 in the gray market. This is a 38% premium compared to its issue price of Rs 391.
The company will use the funds from the IPO to set up a new manufacturing facility at its Atlanta site, meet working capital needs, make acquisitions and other strategic efforts.
IPO News: Mamta Machinery’s IPO can become a profitable deal, brokerage has given subscribe rating, understand the strengths and weaknesses of the company.
company financials
The company’s revenue and profit were Rs 14.63 crore and Rs 0.99 crore in FY 2022, which increased to Rs 39.02 crore and Rs 8.43 crore in FY 2023. Revenue and profit in FY 2024 have been Rs 217.34 crore and Rs 32.71 crore. Senores Pharma manufactures medicines. According to the data till September 2024, 55 products have been launched for important treatments including antibiotic and anti-fungal treatments.
(Disclaimer: The view or advice on the share is given by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert opinion before investing.)
