Surge in Demand: Senores Pharmaceuticals IPO Skyrockets

Senores Pharmaceuticals' IPO witnessed an impressive 13.88 times subscription, amassing bids for 11.8 crore shares compared to the 85.3 lakh shares offered. Retail investors subscribed 38.34 times, while non-institutional investors applied 24.48 times. The IPO, totalling Rs 582 crore, will help fund production facilities, acquisitions, and debt reduction.

Senores Pharmaceuticals' initial public offering (IPO) experienced a significant surge, with subscriptions reaching 13.88 times the available shares on the second day of bidding.

According to NSE data, the IPO saw bids totaling 11.84 crore shares compared to the 85.34 lakh shares on offer. Specifically, the retail investors' portion was subscribed 38.34 times, non-institutional investor segment 24.48 times, and Qualified Institutional Buyers (QIBs) secured a 35 percent subscription.

With proceeds aimed at establishing a production unit for sterile injections in its Atlanta facility, supporting the company's working capital, and driving inorganic growth, the IPO will conclude on December 24.

(With inputs from agencies.)