December 30, 2024
New Delhi, India
Senores Pharmaceuticals IPO Listing
Senores Pharmaceuticals made an impressive debut on the stock exchanges today, listing at ₹600 on the NSE—a 53% premium to its IPO price of ₹391. The strong listing reflects robust investor interest, as the IPO garnered a subscription of 93.41 times during its offer period from December 20 to 24, 2024.
IPO Details and Highlights:
- Total Fund Raised: ₹582.11 crore
- Fresh Issue: ₹500 crore
- Offer-for-Sale: ₹82.11 crore
- Price Band: ₹372–391 per share
- Subscription Details:
- Qualified Institutional Buyers (QIBs): 94.66x
- Non-Institutional Investors (NIIs): 96.11x
- Retail Individual Investors (RIIs): 89.2x
Market and Business Outlook
Grey market activity leading up to the listing had indicated a strong debut, with premiums of 50–70% over the issue price. Analysts attribute this enthusiasm to the IPO’s reasonable valuations and Senores Pharmaceuticals’ exceptional operational growth.
The Ahmedabad-based company focuses on underserved and complex pharmaceutical products, a niche that offers immense growth potential. In FY24, the company reported remarkable financial results:
- Revenue: Up 457%
- Profit After Tax: Up 288%
Future Prospects
Senores Pharmaceuticals aims to expand its specialty product portfolio and leverage its position in niche markets. While analysts are optimistic about its growth trajectory, they recommend monitoring upcoming financial results for sustained performance.
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