Thu Dec 26 23:58:24 UTC 2024: **Senores Pharmaceuticals IPO Oversubscribed, Listing Set for December 30**

MUMBAI, INDIA – Senores Pharmaceuticals Ltd.’s initial public offering (IPO) has concluded with resounding success, receiving an overwhelming 97.86 times subscription. The IPO, open from December 20th to 24th, saw strong participation across all investor categories: retail investors subscribed 93.16 times, non-institutional investors 100.35 times, and qualified institutional buyers 97.84 times. The IPO price band was set at ₹372-₹391 per share.

Allotment has been finalized, and investors can check their status online through the BSE website (https://www.bseindia.com/investors/appli_check.aspx), the NSE website, or Link Intime’s portal (https://www.linkintime.co.in/Initial_Offer/public-issues.html). Many investors have already received bank debit messages confirming their allotment.

The company’s shares are scheduled to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) on Monday, December 30th. A strong grey market premium (GMP) of ₹631 per share, representing a 61.38% premium over the issue price, indicates significant investor optimism for a robust listing.

The ₹500 crore IPO consisted of a fresh issue of shares and an offer-for-sale (OFS) of up to 21 lakh shares by promoters and other selling shareholders. Senores Pharmaceuticals, an Ahmedabad-based company specializing in complex pharmaceutical products, secured ₹261 crore from anchor investors. Proceeds from the fresh issue will be used for facility expansion, working capital, acquisitions, debt repayment, and general corporate purposes. The company has multiple R&D facilities and a diverse product portfolio. Equirus Capital, Ambit, and Nuvama Wealth Management acted as book-running lead managers for the IPO.

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