Investors are buzzing with anticipation as Senores Pharmaceuticals prepares to finalize its IPO allotment on December 26, 2024. Following the IPO's impressive subscription rate of 93.41 times during its three-day bidding period from December 20 to December 24, stakeholders are eager to discover their share allocation.
The company’s public offering raised ₹582.11 crore, comprising ₹500 crore from fresh issues and ₹21 lakh from the offer-for-sale segment. Senores Pharmaceuticals set its share price band between ₹372 and ₹391, with bidders required to purchase shares in lots of 38.
During the subscription period, institutional investors showed particularly strong interest; the qualified institutional buyer (QIB) portion was subscribed approximately 94.66 times, and the non-institutional investors (NIIs) segment saw subscription levels soaring to 96.11 times. Retail investors, on the other hand, subscribed 89.23 times, and employee bids totaled 19.92 times.
Investors can verify their allotment status through the Bombay Stock Exchange (BSE) or Link Intime India, the registrar for the IPO. Checking the status on the BSE can be done by following these steps:
- Visit the BSE website.
- Select 'Equity' under issue type.
- Choose 'Senores Pharmaceuticals Limited' from the dropdown menu.
- Input your application number and PAN card details.
- Complete the captcha and click 'Search.'
Alternatively, to check the allotment status on Link Intime's platform, follow these steps:
- Go to the Link Intime India website.
- Select 'Senores Pharmaceuticals Limited' from the dropdown menu.
- Choose either application number, Demat Account number, or PAN ID to proceed.
- Specify whether you are using ASBA or non-ASBA application type.
- Enter the required details and solve the captcha before submitting.
Notifications confirming share allocations will be sent to investors via messages, alerts, or emails by December 27, 2024. Successful bidders can expect their shares credited to their Demat accounts by Friday evening.
On the grey market, Senores Pharmaceuticals shares are maintaining strong performance even amid wider market fluctuations. The latest reports indicate the stock is trading at a premium of ₹240, forecasting potential gains for investors. This translates to an expected listing price around ₹631, reflecting about 60% potential profit for those who are successful.
Established in December 2017, Senores Pharmaceuticals has focused on developing and manufacturing pharmaceutical products primarily for highly regulated markets like the United States, Canada, and the UK, as well as for various other developing areas. By the end of September 2024, the company had successfully launched 55 products across key therapeutic areas like antibiotics and anti-fungal treatments.
Investors are not only drawn by the positive market sentiments but also by Senores Pharmaceuticals' solid corporate performance. The company reported earnings of ₹217 crore with profits amounting to ₹32.7 crore for the fiscal year 2024.
Preparations are underway for the official listing of Senores Pharmaceuticals on both the National Stock Exchange (NSE) and the BSE, slated for December 30, 2024. With the information provided, investors can remain hopeful for significant returns and engage actively with the market during this pivotal time.
