Tue Dec 24 04:53:02 UTC 2024: ## Senores Pharmaceuticals IPO Oversubscribed, Set for Strong Debut

**Mumbai, December 24, 2024** – The initial public offering (IPO) of Senores Pharmaceuticals, a pharmaceutical company developing and manufacturing products for global markets, is set to close today after attracting strong investor interest. The ₹582.11 crore IPO, priced between ₹372 and ₹391 per share, has been oversubscribed 11.08 times. Retail investors showed particularly strong enthusiasm, with the retail portion oversubscribed 30 times.

The IPO includes a fresh issue of ₹500 crore and an offer-for-sale (OFS) of shares by promoters and existing shareholders. Proceeds from the fresh issue will be used for investments in subsidiaries, debt repayment, working capital, acquisitions, and general corporate purposes. Prior to the IPO, Senores raised ₹260.6 crore from anchor investors, including prominent firms like Goldman Sachs and Societe Generale.

The IPO’s grey market premium (GMP) currently stands at ₹220, suggesting a potential listing price of ₹611 per share – a 56.27% increase over the upper price band.

Several brokerages have issued positive recommendations, citing the company’s strong financial performance. Anand Rathi, SBI Securities, and Canara Bank Securities all recommend subscribing, highlighting the company’s impressive revenue and profit growth, and attractive valuations compared to its peers. SBI Securities noted a compound annual growth rate (CAGR) of 289.1% in revenue between FY22 and FY24.

Share allotment is expected on December 26th, with a tentative listing date on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) set for December 30th.

**(Disclaimer: This article is for informational purposes only and does not constitute investment advice. Consult a financial advisor before making any investment decisions.)**

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