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PremiumSenores Pharmaceuticals Share Price Live Updates: Senores Pharmaceuticals shares made their Dalal Street debut today after high demand for its initial public offering (IPO). Senores Pharmaceuticals IPO after listing at 53% premium witnessed some profit booking. Overall, they ended 6% below listing price but 43% above IPO price.
Senores Pharmaceuticals IPO was open for subscription from December 20 to 24 and the issue was subscribed by a massive 93.69 times. Ahead of the share listing today, Senores Pharmaceuticals IPO GMP today indicates a strong debut. Analysts also expect Senores Pharmaceuticals shares to list at a hefty premium to the issue price. Stay tuned to our Senores Pharmaceuticals Share Price Live Blog for the latest updates.
Shares of Senores Pharmaceuticals ended 6% below their listing price but from the IPO price, the stock is still up 43%. On NSE, the stock closed at ₹562 while on the BSE, the stock settled at ₹557.80.
Company Subsidiaries
As on the date of this Red Herring Prospectus, the Company has four subsidiaries:
Indian Subsidiaries
Foreign Subsidiaries
Total expenses increased by 623.74% from ₹265.84 million in Fiscal 2023 to ₹1,923.98 million in Fiscal 2024 primarily due to an increase in the scale of operations of our existing businesses and the acquisition of Havix and RPPL.
Swapnil Jatinbhai Shah and Ashokkumar Vijaysinh Barot are the promoters of the company. As of the date of this Red Herring Prospectus, the promoters cumulatively hold 7,781,311 Equity Shares, representing 23.39% of the paid-up equity share capital of the company.
Source: RHP
Swapnil Jatinbhai Shah is the Promoter and Managing Director of the Company, with over 15 years of experience in the pharmaceutical sector. He previously worked in a Delaware-based pharmaceutical company and now leads the overall functioning of Senores, including product portfolio management, corporate strategy, business development, and strategic management. He holds an MBA from Hofstra University and a bachelor's degree in chemical engineering from Nirma University. He is also the promoter and chairman of Remus Pharmaceuticals Limited and was a strategist at Planet Payment Inc. (now acquired by Fintrx, Inc.). He is a convenor of the pharma panel at CII, Gujarat State Council.
Sanjay Shaileshbhai Majmudar is the Chairman and Non-Executive, Non-Independent Director. He holds a bachelor’s degree in commerce and law from Gujarat University and is a fellow member of the Institute of Chartered Accountants of India. With over 39 years of experience, he is a partner at Parikh & Majumdar Chartered Accountants and a director on the boards of AIA Engineering Limited, Ashima Limited, and others.
Hemanshu Nitinchandra Pandya is a Non-Executive, Non-Independent Director with over four years of experience in the pharmaceutical industry. He holds a bachelor’s degree in arts from Rutgers College, USA, and is currently with Havix Group Inc. as a director and chief business officer.
Jitendra Babulal Sanghvi is a Non-Executive, Non-Independent Director with over 15 years of experience. He holds a bachelor’s degree in commerce and was awarded 'Young Pharma Entrepreneur of the Year' in 2013. He has been associated with Ratnatris Pharmaceuticals since 2009.
Chetan Bipinchandra Shah is the Whole-Time Director and Chief Operating Officer with over 24 years of experience. He has worked with Torrent Pharmaceuticals and Cadila Pharmaceuticals, and also with Reliance Retail and Corporate IT Park. He holds a degree in industrial engineering and is responsible for overall operations, supply chain, and capital expenditure planning.
Deval Rajnikant Shah is the Whole-Time Director and Chief Financial Officer with over 40 years of experience in chartered accountancy, engineering, and pharmaceuticals. He was the founder of M/s. Shah Narielwala & Co. and has worked as CFO at SAI Consulting Engineers. He is responsible for the overall finance, accounts, and taxation functions of the Company.
Ashokkumar Vijaysinh Barot is a Promoter and Non-Executive, Non-Independent Director with over 21 years of experience in the pharmaceutical industry. He holds a bachelor’s degree in microbiology and is a registered pharmacist with the Gujarat Pharmacy Council.
Arpit Deepakkumar Shah is a Non-Executive, Non-Independent Director with over 10 years of experience. He holds a degree in information technology and was previously associated with Case-Mate Inc. He is also the promoter and managing director of Remus Pharmaceuticals Limited.
Naresh Bansilal Shah is a Non-Executive, Independent Director with over 17 years of experience in the pharmaceutical industry. He has previously worked with Cadila Healthcare and Ranbaxy Laboratories, and is now the COO of Inventia Healthcare.
Manjula Devi Shroff is a Non-Executive, Independent Director with over 15 years of experience. She holds a master’s in political science and has completed management education from IIM Ahmedabad. She is currently associated with Kevalam Foundation and Visamo Kids Foundation.
Kalpit Rajesh Gandhi is a Non-Executive, Independent Director with over 15 years of experience. He holds an MBA from IESE Business School and is currently a director and CFO at Vadilal Industries Limited.
Udayan Dileep Choksi is a Non-Executive, Independent Director with over 17 years of experience in the legal industry. He holds a degree in economics from the University of Warwick and is a partner at Khaitan & Co.
Shares of Senores Pharmaceuticals dropped over 9% from the day's high of ₹609.65. From the listing price, the stock is down 6.27%.
Senores Pharma is a global research-driven pharmaceutical company engaged in developing and manufacturing a wide range of pharmaceutical products predominantly for the Regulated Markets of the US, Canada, and the United Kingdom across various therapeutic areas and dosage forms, with a presence in Emerging Markets.
Through data analytics, research, market assessment, and experienced management, the company strategically identifies commercially underpenetrated molecules to launch products in Regulated and Emerging Markets. It leverages R&D capabilities to develop and manufacture a portfolio of differentiated complex pharmaceutical products.
The company's business is primarily focused on the Regulated Markets of the US, Canada, and the United Kingdom. It has a presence in the Emerging Markets across 43 countries. It also manufactures critical care injectables and APIs.
Here's a look at the promoter and investor selling shareholders, and how much they gained following Senores listing:
1. Investment in one of the Subsidiaries, Havix Group, Inc. d/b/a Aavis Pharmaceuticals (“Havix"), to fund capital expenditure requirements for setting up a manufacturing facility for the production of sterile injections in our Atlanta Facility;
2. Re-payment/pre-payment, in full or in part, of certain borrowings availed by the company;
3. Investment in a Subsidiary, namely, Havix, for re-payment/pre-payment in full or in part, of certain borrowings availed by such Subsidiary;
4. Funding the working capital requirements
5. Investment in Subsidiaries, namely, Senores Pharmaceuticals Inc. (“SPI") and Ratnatris Pharmaceutical Private Limited (“Ratnatris") to fund their working capital requirements; and
6. Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes.
Shares of Senores Pharmaceuticals witnessed some profit taking after over 50% listing pop on the bourses. On NSE, the stock was trading 1.08% below its listing price while on BSE, it was down nearly 3%.
Senores Pharmaceuticals shares listed at ₹593.70 on the BSE, a premium of 52% over the IPO price of ₹391. Meanwhile, on NSE, the stock listed at ₹600, a premium of 53%.
The issue received strong response from the investors across categories as it was offered at attractive valuations. This is expected to continue post-listing, and hence, I believe that Senores Pharmaceuticals IPO listing price would be around 70 per cent higher than the upper price band of ₹391.
Senores Pharmaceuticals Ltd. has attracted significant investor interest, with its IPO oversubscribed 97.86 times, and is expected to debut on December 30, 2024, potentially commanding a 61% premium above the upper price band. The company is a global research-driven pharmaceutical company engaged in developing and manufacturing a wide range of pharmaceutical products predominantly for regulated markets across various therapeutic areas and dosage forms, with a presence in emerging markets. The company is an R&D-driven company with a differentiated product portfolio across dosage forms, which has enabled the company to reach a range of target markets with a presence in the US, Canada and emerging markets. Senores Pharmaceuticals partners with many CDMO customers early in the drug development, enabling them to expand relationships as molecules progress through the clinical phase and into commercial manufacturing.
Senores Pharmaceuticals IPO GMP today was ₹284, suggesting the shares could list ₹284 above the issue price of ₹391. At this GMP and IPO price, Senores Pharma shares could list at ₹675, a premium of 73% over IPO price.
Senores Pharmaceuticals Share Price Live: Senores Pharmaceuticals IPO was subscribed 93.69 times subscription in total as it garnered bids for 79.95 crore equity shares as against 85.34 lakh shares on the offer. The retail investors portion was booked 90.46 times, while the Non Institutional Investors (NII) portion was subscribed 96.30 times. The Qualified Institutional Buyers (QIBs) category received 94.66 times subscription.
Senores Pharmaceuticals Share Price Live: Senores Pharmaceuticals IPO opened for subscription on December 20 and closed on December 24. The IPO allotment was finalized on December 26. Senores Pharmaceuticals IPO listing date is today, December 30 and the stock will be listed on BSE and NSE at 10:00 AM.
Senores Pharmaceuticals Share Price Live: Senores Pharmaceuticals shares will make their stock market debut today after receiving high demand for its initial public offering (IPO). Senores Pharmaceuticals IPO listing date is today, December 30, and the equity shares of the company will be listed on both the stock exchanges, BSE and NSE.
