iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Senores Pharma files IPO papers

29 Jul 2024 , 12:09 PM

Senores Pharmaceuticals, based in Ahmedabad, has filed preliminary paperwork with capital markets regulator SEBI to acquire funds through an initial public offering (IPO).

The IPO consists of a fresh issuance of equity shares worth ₹500 Crore and an offer-for-sale (OFS) of 27 lakh equity shares by existing shareholders.

Swapnil Jatinbhai Shah, Ashokkumar Vijaysinh Barot, and Sangeeta Mukur Barot, the promoters, will sell 17 lakh shares in the OFS, while Prakash M Sanghvi, the other selling stakeholder, would dispose 10 lakh shares.

Promoters possess 66.67% of the pharmaceutical company, with the balance shares owned by public shareholders.

Senores Pharma, which operates in emerging markets, may consider financing ₹100 Crore (pre-IPO placement) prior to publishing the red herring prospectus (RHP). The fresh issue size will be reduced in accordance with the amount of pre-IPO placement.

The Shah and Barot family-owned company intends to use the money from the new offering to establish a manufacturing facility in Atlanta for the production of sterile injections, working capital requirements, inorganic growth, and other strategic activities. It will also use the proceeds from the IPO to service its debt.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • IPO
  • SEBI
  • Senores Pharma
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.