Thu Dec 26 10:11:49 UTC 2024: ## Senores Pharmaceuticals IPO Overwhelmed by Demand, Set for Stellar Debut

**Ahmedabad, India – December 27, 2024** – Senores Pharmaceuticals’ ₹582.11 crore initial public offering (IPO) concluded with an overwhelmingly positive response, receiving bids 93.41 times the number of shares offered. The IPO, which closed on December 24th, saw particularly strong demand from Qualified Institutional Buyers (QIBs) at 94.66 times subscription and Non-Institutional Investors (NIIs) at 96.11 times. Even the retail portion was subscribed 89.23 times.

The Ahmedabad-based pharmaceutical company, established in 2017, specializes in developing products for regulated markets such as the US, Canada, and the UK. As of September 2024, they have launched 55 products across various therapeutic categories. The IPO included a fresh issue of ₹500 crore and an offer-for-sale of 21 lakh equity shares. Equirus Capital, Ambit, and Nuvama Wealth Management acted as lead managers.

The significant oversubscription has fueled speculation about the company’s listing performance. A grey market premium (GMP) of ₹230 suggests a potential listing gain of around 59% over the issue price of ₹391, though this is not a guaranteed indicator. Shares are expected to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) on December 30th. Investors can verify their allotment status through Link Intime India’s website or the BSE portal.

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