Senores Pharmaceuticals IPO - Day 1 Subscription at 0.51 Times

The opening day of Senores Pharmaceuticals' initial public offering has demonstrated an interesting pattern of investor interest, with overall subscription reaching 0.51 times by 11:32 AM on December 20, 2024. What makes this initial response particularly noteworthy is the strong retail investor confidence, with this segment already exceeding twice oversubscription at 2.20 times, suggesting significant individual investor recognition of the company's growth potential in regulated pharmaceutical markets.

Senores Pharmaceuticals IPO Non-Institutional Investors have shown measured participation at 0.37 times, with smaller NIIs demonstrating stronger conviction at 0.69 times compared to larger NIIs at 0.22 times. The QIB portion is yet to see significant participation, though this should be viewed alongside the substantial anchor book of ₹260.63 crores, which provides strong institutional validation of the company's business model and expansion plans.
 

Subscription Status of Senores Pharmaceuticals IPO:

*As of 11:32 AM

Here are the subscription details for Senores Pharmaceuticals IPO as of Day 1 (20th December 2024, 11:32 AM):

Total Applications: 74,845

Key Highlights Day 1:

• Overall subscription began at 0.51 times, with notable retail investor enthusiasm
• Retail investors showed strong confidence with 2.20 times subscription, worth ₹127.131 crores
• NII category demonstrated selective participation at 0.37 times, with stronger sNII interest
• Substantial anchor book of ₹260.63 crores provides institutional backing
• Total bids received for 41.23 lakh shares worth ₹161.229 crores
• Applications reached 74,845, indicating significant retail interest
• Opening day response reflects positive assessment of pharmaceutical sector potential
• Initial subscription pattern suggests strong retail belief in growth prospects

About Senores Pharmaceuticals Limited: 

Founded in December 2017, Senores Pharmaceuticals Limited has rapidly established itself as a specialized pharmaceutical manufacturer focusing on regulated markets including the US, Canada, and the UK. Their comprehensive product portfolio spans 55 products across key therapeutic areas, with particular strength in antibiotics and anti-fungal treatments.

Operating through three dedicated R&D facilities across India and the US, along with their manufacturing facility in Ahmedabad, Gujarat, the company has demonstrated impressive growth trajectory. Their financial performance has been particularly strong, achieving 457% revenue growth and 288% PAT increase between FY2023 and FY2024, highlighting their successful penetration of regulated markets and expansion into emerging markets across 43 countries.
 

Highlights of the Senores Pharmaceuticals IPO:

• IPO type: Book Built Issue
• IPO size: ₹582.11 crores
• Fresh Issue: ₹500.00 crores
• Offer for Sale: ₹82.11 crores
• Face value: ₹10 per share
• Price band: ₹372 to ₹391 per share
• Lot size: 38 shares
• Minimum investment for retail investors: ₹14,858
• Minimum investment for sNII: ₹2,08,012 (14 lots)
• Minimum investment for bNII: ₹10,10,344 (68 lots)
• Listing at: BSE, NSE
• IPO opens: December 20, 2024
• IPO closes: December 24, 2024
• Allotment date: December 26, 2024
• Refund initiation: December 27, 2024
• Credit of shares: December 27, 2024
• Listing date: December 30, 2024
• Lead Managers: Equirus Capital Private Limited, Ambit Private Limited, Nuvama Wealth Management Limited
• Registrar: Link Intime India Private Ltd

The strong first-day retail response and substantial anchor participation suggest market recognition of Senores Pharmaceuticals' potential in the growing pharmaceutical manufacturing sector, particularly in regulated markets.