Senores Pharmaceuticals Limited IPO

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They are a global research-driven pharmaceutical company specializing in the development and manufacturing of a broad range of pharmaceutical products, focusing primarily on Regulated Markets such as the US, Canada, and the United Kingdom, while maintaining a presence in Emerging Markets across 43 countries.

Core Markets:

i. Regulated Markets: United States, Canada, and the United Kingdom.
ii. Emerging Markets: Presence in 43 countries worldwide, expanding accessibility to underserved geographies.

Product Offerings:

i. Diverse portfolio across multiple therapeutic areas and dosage forms.
ii. Focus on specialty, underpenetrated, and complex pharmaceutical products.

Critical Care Products:

i. Manufacturing of critical care injectables and Active Pharmaceutical Ingredients (APIs).

Competitive Advantage

i. Strategic Molecule Identification: Leveraging data analytics, market assessments, and R&D capabilities, they identify and target commercially underpenetrated molecules with strong market potential.
ii. Differentiated Complex Products: Focus on specialty and complex formulations, which include unique dosage forms and challenging therapeutic domains and builds competitive differentiation in Regulated Markets.
iii. Strong Partnerships: Established partnerships with leading foreign and Indian pharmaceutical companies in Regulated Markets, including:
a. Prasco LLC                                     b. Lannett Company Inc.                                c. Jubilant Cadista Pharmaceuticals Inc.
d. Alkem Laboratories Limited      e. Sun Pharmaceutical Industries Limited   f. Dr. Reddy’s Laboratories Inc.
g. Cipla USA Inc.

Conclusion

As a research-driven pharmaceutical company, they specialize in developing complex, underpenetrated, and specialty products for Regulated and Emerging Markets. Through robust R&D, data-driven strategies, and established partnerships with leading global and Indian pharmaceutical players, they continue to strengthen their presence and position as a preferred partner in the global pharmaceutical industry.

Objects of the Senores Pharmaceuticals Limited IPO:

The Company proposes to utilise the Net Proceeds towards funding the following objects: i. Investment in one of the Subsidiaries, Havix Group, Inc. d/b/aAavis Pharmaceuticals(“Havix”), to fund capital expenditure requirements for setting up a manufacturing facility for the production of sterile injections in the Atlanta Facility; ii. Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company; iii. Investment in the Subsidiary, namely, Havix, for re-payment/pre-payment in whole or part of certain borrowings availed by such Subsidiary; iv. Funding the working capital requirements of the Company; v. Investment in the Subsidiaries, namely, Senores Pharmaceuticals Inc. (“SPI”)and Ratnatris Pharmaceutical Private Limited (“Ratnatris”), to fund their working capital requirements. vi. Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes. Total number of share issue :- i. Fresh issue is 1,27,87,723 shares, ii. Offer for sale is 21,00,000 shares.
DRHP of Senores Pharmaceuticals Limited IPO
RHP of Senores Pharmaceuticals Limited IPO

Senores Pharmaceuticals Limited IPO Details:

Open Date: Dec 20 2024
Close Date: Dec 24 2024
Total Shares: 1,48,87,723
Face Value: ₹ 10 Per Equity Share
Issue Size: 582.11 Cr.
Lot Size: 38 Shares
Issue Price: ₹ 372 - 391 Per Equity Share
Listing At: NSE,BSE
Listing Date: Dec 30 2024

Promoters And Management:

Swapnil Jatinbhai Shah, Promoter and Managing Director of the Company, has over 15 years of experience in the pharmaceutical sector. Previously involved in operations at a Delaware-based pharmaceutical company, he currently oversees the Company’s overall functioning, including product portfolio management, corporate strategy, and business development. He holds an MBA from Hofstra University, New York, and a bachelor’s degree in chemical engineering from Nirma University. He is also the Promoter and Chairman of Remus Pharmaceuticals Limited, listed on NSE Emerge. Sanjay Shaileshbhai Majmudar, Chairman and Non-Executive, Non-Independent Director of the Company, holds a bachelor's degree in commerce and law from Gujarat University and is a fellow member of ICAI. With over 39 years of experience, he is a partner at Parikh & Majmudar and proprietor of Sanjay Majumdar & Associates. He serves as a director on the boards of AIA Engineering Limited, Ashima Limited, M & B Engineering Limited, and Welcast Steels Limited, chairing and contributing to audit committees. Hemanshu Nitinchandra Pandya, Non-Executive, Non-Independent Director of the Company, holds a bachelor’s degree in arts from Rutgers College, State University of New Jersey, USA. With over four years of experience in the pharmaceutical industry, he previously worked as a consultant with Cyrilmed LLC and currently serves as Director and Chief Business Officer at Havix Group Inc. d/b/a Aavis Pharmaceuticals.

Financials of Senores Pharmaceuticals Limited IPO: 

To be updated shortly.

Comparison With Peers:

To be updated shortly.

Recommendation on Senores Pharmaceuticals Limited IPO:

To be updated shortly.

Lead Manager of Senores Pharmaceuticals Limited IPO:

  1. Ambit Capital Private Limited
  2. Equirus Capital Private Limited
  3. Nuvama Wealth Management Limited

Registrar of Senores Pharmaceuticals Limited IPO:

  1. Link Intime India Private Limited

Company Address:

Senores Pharmaceuticals Limited 1101 to 1103, 11th floor, South Tower, ONE 42 oppositeJayantilal Park, Ambali Bopal Road, Ahmedabad,-380054 Phone: +91-79-29999857 Email: cs@senorespharma.com Website: https://senorespharma.com/

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