Senores Pharmaceuticals was listed at Rs 600 on the National Stock Exchange, a premium of 53.4% to the issue price. It was listed at Rs 593.7 on BSE, a premium of 51.8% to the issue price.
Senores Pharma IPO GMP
The shares of the company in the grey market were trading at a premium of Rs 675, an indication of a potential listing around 72.6% gain from the issue’s upper price band of Rs 391. The grey market is an unofficial place to trade shares ahead of listing.
Senores Pharma IPO details
The IPO was subscribed to a total of 97.86 times. The retail portion was booked 93.16 times and the NIIs booked it 100.35 times. The QIBs subscribed to the issue 97.84 times. The IPO was opened on December 20 and closed on December 24. The company raised Rs 582.11 crore from investors via a combination of a fresh issue and an offer for sale. The allotment was finalised on December 26. The IPO price band was set at Rs 372 to Rs 391 per equity share.
Senores Pharma IPO review
“Senores Pharmaceuticals has adopted an inorganic growth through synergistic acquisitions, enhancing market share in USA and regulated markets, alliances for CMO/CDMO business, professional and dedicated management team for diverse business verticals augurs well for the company in the long term. Hence, we recommend a Subscribe to the issue,” said Reliance Securities in an IPO note.
Lead managers and registrar
Equirus Capital Private, Ambit, and Nuvama Wealth Management were the book-running lead managers of the IPO, while Link Intime India was the registrar for the issue.