The IPO to open on Friday, December 20, 2024; By leveraging data analytics, research, and its experienced management, the company strategically targets underpenetrated molecules in both Regulated and Emerging Markets.
FinTech BizNews Service
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 Rs372/- to Rs 391/- per Equity Share of face value Rs10/- 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.
