Senores Pharmaceuticals Limited’s Initial Public Offering to open on Friday, December 20, 2024, price band set at ₹372/- to ₹391/- per Equity Share

Mumbai, December 18, 2024: Senores Pharmaceuticals Limited, a global research driven pharmaceutical company engaged in developing and manufacturing a wide range of generic pharmaceutical products in the B2B segment for the Regulated Markets of US, Canada and United Kingdom and Emerging Markets across various therapeutic areas and dosage forms, has fixed the price band of ₹372/- to ₹391/- per Equity Share of face value ₹10/- each for its maiden initial public offer.

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Friday, December 20, 2024, for subscription and close on Tuesday, December 24, 2024. Investors can bid for a minimum of 38 Equity Shares and in multiples of 38 Equity Shares thereafter.

The IPO is a mix of fresh issue of up to Rs 500 crore and an offer of sale of up to 21,00,000 shares. The offer includes a reservation of up to 75,000 equity shares for subscription by eligible employees under the employee reservation portion.

The proceeds from its fresh issuance will be utilized to the extent of Rs 107 crore for investment in one of its Subsidiaries, Havix, to fund capital expenditure requirements, to fund capital expenditure requirements for setting up a manufacturing facility for the production of sterile injections in its Atlanta Facility; Rs 73.48 for re-payment/pre-payment, in full or in part, of certain borrowings availed by the Company; Rs 20.22 crore for investment in its Subsidiary, namely, Havix, for re- payment/pre-payment in full or in part, of certain borrowings availed by such Subsidiary; Rs 43.26 crore for funding the working capital requirements of the Company; Rs 59.48 crore for investment in its Subsidiaries, namely, SPI and Ratnatris to fund their working capital requirements; and funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes.

Senores Pharmaceuticals operates a critical care injectables business, supplying critical care injectables to hospitals across India through distributors, and manufacture APIs for the domestic market and SAARC countries. It identifies, develops, and manufactures a wide range of specialty and complex pharmaceutical products, making it a preferred partner for key customers. By leveraging data analytics, research, and its experienced management, the company strategically targets underpenetrated molecules in both Regulated and Emerging Markets. Its strong R&D capabilities enable the development of differentiated products, with a focus on quality and complex molecules. The company has built a robust pipeline, demonstrated through partnerships in the US, Canada, and the UK with major pharmaceutical companies such as Prasco LLC, Jubilant Cadista Pharmaceuticals, Alkem Laboratories Limited, Sun Pharmaceuticals Industries Limited, Dr. Reddy’s Laboratories Inc., and Cipla USA Inc.

The Company primarily focused on Regulated Markets in the US, Canada, and the UK, also has a presence in 43 Emerging Markets. Its business operates under two models for its Regulated Markets Business: Marketed Products (including ANDA and sourced products) and contract development and manufacturing operations (“CDMO”)/ contract manufacturing operations (“CMO”). The company’s portfolio includes 21 commercialized products, 19 approved ANDAs, 4 CGT designations, 6 filed ANDAs, and 45 products in its pipeline.

Equirus Capital Private Limited, Ambit Private Limited and Nuvama Wealth Management Limited are the book-running lead managers, and Link Intime India Private Limited is the registrar of the issue.

The Offer is being made through the book-building process, wherein not less than 75% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not more than 15% of the net offer shall be available for allocation to non-institutional investors, and not more than 10% of the net offer shall be available for allocation to retail individual investors.

RHP Link: https://cdn.equiruswealth.com/ecpl/uploads/2024/12/Senores-Pharmaceuticals-Limited-RHP.pdf