Senores Pharmaceuticals IPO Day 1 Live Updates: The initial public offering (IPO) of Senores Pharmaceuticals is set to hit Dalal Street on today, December 20. The ₹582.11-crore issue will remain open for bidding till December 24. The price band for the IPO is set in the range of ₹372 to ₹391 per share.

Senores Pharmaceuticals is a manufacturer of a range of pharmaceutical products primarily for the regulated markets of the US, Canada, and the UK, while also serving emerging markets. The company has launched 55 products in key therapeutic areas, including antibiotics and anti-fungal treatments, as of September 30, 2024.

The IPO lot size is 38 shares with a minimum investment amount required by retail investors is ₹14,858.

Senores Pharmaceuticals is a combination of fresh issue of 1.28 crore shares aggregating to ₹500.00 crore and offer for sale of 0.21 crore shares aggregating to ₹82.11 crore.

The Company plans to utilize the Net Proceeds for several strategic purposes, including investing in its subsidiary, Havix Group, Inc. (operating as Aavis Pharmaceuticals), to establish a manufacturing facility for sterile injections at its Atlanta location. Additionally, the funds will be used for the repayment or prepayment of certain borrowings by the Company and Havix, supporting their financial health. The proceeds will also cater to the working capital needs of the Company and its subsidiaries, namely Senores Pharmaceuticals Inc. and Ratnatris Pharmaceutical Private Limited. Furthermore, the funds will facilitate inorganic growth through acquisitions and other strategic initiatives, alongside general corporate purposes.

Senoras Pharma IPO allotment is expected to be finalized on December 26. The company will credit the equity shares into the demat accounts of the eligible allottees on December 27 and initiate refunds to unsuccessful bidders on the same day. Senoras Pharma IPO listing date is likely December 30 on both the stock exchanges, BSE and NSE.