Gujarat-based Senores Pharmaceuticals has set the much-awaited allotment date for its Initial Public Offering (IPO), which received an overwhelming response from investors.
The allotment of shares will be finalized on December 29, 2024, following the conclusion of the IPO subscription window, which closed on December 24, 2024.
With a massive oversubscription rate of 93.41 times, the IPO has captured the attention of both retail and institutional investors. The company had offered a fresh issue of ₹500 crore and an offer for sale of ₹82.11 crore, attracting significant demand across all investor categories.
Senores Pharmaceuticals’ IPO, which offered shares in the price band of ₹372 to ₹391 per share, has seen enthusiastic bidding across various categories:
The tremendous demand is a clear indicator of investors’ confidence in the company’s future prospects, especially considering its expansion plans, robust financial performance, and strong position in both domestic and international pharmaceutical markets.
The allotment date for Senores Pharmaceuticals’ IPO has been set for December 29, 2024, and investors can check the status of their allotment by visiting the registrar’s website, Link Intime India Pvt Ltd, or through the respective banks or brokers where the IPO application was made.
For investors who are successful in the allotment process, the shares will be credited to their demat accounts by January 1, 2025. The listing of Senores Pharmaceuticals on the NSE and BSE is expected to take place on January 3, 2025.
Senores Pharmaceuticals has made a strong impression with its IPO, fueled by the company’s strong financial growth and strategic initiatives to expand its product offerings in regulated markets. The IPO is a stepping stone in the company’s plans to strengthen its manufacturing capabilities, particularly with the establishment of a sterile injection manufacturing facility, and further enhance its global footprint.
As the company gears up for its market debut, the successful IPO is likely to bolster its position in the competitive pharmaceutical industry, offering investors a promising opportunity in the growing healthcare sector.
Stay tuned for more updates on the IPO allotment and listing as Senores Pharmaceuticals prepares to enter the stock market with significant investor interest and expectations.
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