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Gujarat-based company Senores Pharma aims to raise Rs 582 crore. Retail investors had to make a minimum investment of Rs 14,858 with a lot size of 38 equity shares
The company’s shares are scheduled to be listed on the BSE and NSE on December 30. (Representative/Shutterstock)
The initial public offering (IPO) of Gujarat-based pharmaceutical company, Senores Pharma, closed on December 24 after a four-day subscription period that commenced on December 20. The IPO received an overwhelming response from investors, with the issue subscribed 93.41 times over. The company aims to raise Rs 582 crore through the offering, having already secured Rs 260.6 crore from anchor investors.
In the grey market, Senores Pharma’s shares are trading at a premium of Rs 230. This represents a 58.8 per cent premium over their issue price. Based on the current premium, the company’s shares could be listed on the market at around Rs 621. The grey market is an unauthorised market where company shares are traded before their official listing. Market experts caution that investment decisions should be based on the company’s financial health rather than signals from the grey market.
IPO Price Band: Rs 372-391 Per Share
The price band for this IPO has been fixed at Rs 372-391 per share. The company’s shares are scheduled to be listed on the BSE and NSE on December 30. The minimum investment amount for retail investors was Rs 14,858, representing a lot size of 38 equity shares.
Senores Pharmaceuticals’ Business
Senores Pharmaceuticals’ business primarily focuses on the regulated markets of the US, Canada, and the United Kingdom, while maintaining a presence in the emerging markets of 43 countries.
(Disclaimer: Investment made in IPOs is subject to market risks. If you want to invest money, consult a certified investment advisor first. News18 will not be responsible for any profit or loss incurred.)