Mumbai: Senores Pharmaceuticals Limited, is coming out with an Initial Public Offering (IPO) with price band of Rs 372 to Rs 391 per Equity Share – aggregating to Rs 582.11 crores — which will open on December 20, 2024 and close on December 24, 2024.
The IPO is a mix of Fresh Issue of up to Rs 500 crore and an Offer for Sale of up to 21,00,000 shares.
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 for setting up a manufacturing facility for 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 — 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 Limited is 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.
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.
