Senores Pharmaceuticals Raises Rs 261 Crore From Anchor Investors Prior To IPO Launch
The company will launch its initial public offering on Friday to raise Rs 582.1 crore.
Senores Pharmaceuticals Ltd. raised Rs 260.6 crore from anchor investors on Thursday ahead of its initial public offering. The company allotted 6.66 crore shares at Rs 391 apiece to 20 anchor investors.
ICICI Prudential Pharma Healthcare And Diagnostics (P.H.D) Fund and Aditya Birla Sun Life Insurance Co. got the highest allocation of 19.18%.
Mahindra Manulife Large and Mid Cap Fund got the second highest allotment of 7.64%. Ikigai Emerging Equity Fund and SBI General Insurance Co. got the third highest allotment of 5.75% stake in the company.
Goldman Sachs Investments (Mauritius) I Ltd., and Integrated Core Strategies (Asia) Pte. are among the foreign investors.
Out of the total allocation, equity shares were allocated to three domestic mutual funds through a total of four schemes, the company said in an exchange filing on Thursday.
ICICI Prudential Pharma Healthcare And Diagnostics (P.H.D) Fund, Mahindra Manulife Large & Mid Cap Fund, Bank of India Multicap Fund, Bank of India Mid & Small Cap Equity & Debt Fund were among the top fund houses in this category.
Equirus Capital Pvt., Ambit Pvt. and Nuvama Wealth Management Ltd., are the book-running lead managers to the issue. Link Intime India Pvt. is the registrar for the offer.
The company will launch its initial public offering on Friday to raise Rs 582.1 crore. The IPO consists of a fresh issue of Rs 500 crore and an offer for sale of Rs 82.1 crore.
The price band for the IPO has been set between Rs 372 and Rs 391 per share.
Senores Pharmaceuticals will use the fresh issue proceeds from the public offer to invest in its subsidiary, Havix Group, to set up a manufacturing facility and to settle its debts. The company will also invest in subsidiaries, Senores Pharmaceuticals Inc. and Ratnatris Pharmaceutical Pvt., to fund their working capital requirements.
Part of the proceeds will be utilised for repaying the company's debts, funding inorganic growth through acquisition and general corporate purposes.
