Senores Pharmaceuticals gets Sebi's nod to float IPO

16 Oct 2024 Evaluate

Senores Pharmaceuticals has received the Securities and Exchange Board of India’s (SEBI's) approval to float an initial public offering (IPO). The Ahmedabad-based company's IPO is a combination of fresh issuance of shares worth Rs 500 crore and an offer for sale (OFS) of up to 27 lakh equity shares by promoters and other selling shareholders. 

Proceeds from its fresh issuance will be utilised for setting up a manufacturing facility for the production of sterile injections in its Atlanta facility; funding the working capital requirements of the company and its subsidiaries; supporting inorganic growth through acquisition and other strategic initiatives and payment of debt. Besides, a portion will be used for general corporate purposes. Equirus Capital, Ambit, and Nuvama Wealth Management are the book-running lead managers to the issue. The equity shares are proposed to be listed on the BSE and the NSE.

Senores Pharmaceuticals specialises in identifying, developing, and manufacturing a wide array of speciality and complex pharmaceutical products. The company had launched 54 products in major therapeutic segments, including antibiotics, anti-bacterial, anti-fungal and bloodline as of March this year.


Senores Pharmaceutic Share Price

534.50 18.90 (3.67%)
20-Feb-2025 16:59 View Price Chart
Peers
Company Name CMP
Sun Pharma Inds. 1669.70
Dr. Reddys Lab 1170.90
Cipla 1479.80
Lupin 1977.60
Zydus Lifesciences 900.20
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