Senores Pharmaceuticals IPO day 3: GMP, subscription status to review. Apply or not?

Senores Pharmaceuticals IPO: Bidding for the initial public offering (IPO) of Senores Pharmaceuticals Limited began on 20 December 2024 and will remain open until 24 December 2024. So, investors have just one day to apply for the Senores Pharmaceuticals IPO as bidding for the public issue ends today at 5:00 PM. According to Senores Pharmaceuticals' IPO subscription status, the book build issue has received a strong response from primary market investors. Following strong Senores Pharmaceuticals IPO subscription status, the grey market has also gone bullish on Senores Pharmaceuticals shares. According to stock market observers, Senores Pharmaceuticals IPO grey market premium (GMP) has surged from 200 to ₹233 in the grey market today.

Senores Pharmaceuticals IPO GMP today

As mentioned, Senores Pharmaceuticals IPO GMP today is ₹233, ₹33 higher than Monday's Senores Pharmaceuticals IPO GMP of ₹200. Market observers said that the trend reversal on Dalal Street and investors' strong response could be a reason for the rise in the grey market sentiments regarding Senores Pharmaceuticals' IPO. They said that company shares trading at a premium of 60 per cent against the upper price band of ₹391 per equity share may attract investors on the third day of bidding.

Senores Pharmaceuticals IPO subscription status

By 3:12 PM on day 3 of bidding, the public issue had been booked 78.78 times, the retail portion of the book build issue had been subscribed 81.01 times, the NII portion had been filled 91.44 times, and the QIB segment had been subscribed 72.62 times.

Senores Pharmaceuticals IPO Review

Motilal Oswal said that assigning a 'subscribe' tag to the public issue, “Senores, through its well-placed strategy, has created a niche in the pharma industry and has grown rapidly. At ₹391, the issue is priced at 37.6x FY25E P/E (on a diluted and annualized basis), which looks fairly valued compared to peers. Given its presence in complex niche products, good long-term relationship with marquee clients and strong financials, investors can Subscribe to the IPO.”

Anand Rathi has also assigned a 'buy' tag to the public issue, saying, "Senores Pharmaceuticals Limited develops and manufactures a range of pharmaceutical products primarily for the regulated markets of the US, Canada, and the UK, while also serving emerging markets. The company's presence in 43 countries focuses on critical care injectables, APIs, and complex speciality pharmaceutical products. At the upper price band, the company is valued at a P/E of 55x with a market cap of ₹18,006 million post-issue of equity shares and a return on net worth of 23.6% based on FY24. On the valuation front, the company is fairly priced. Therefore, we recommend a "Subscribe" rating to the IPO."

Besides, Aditya Birla (broking arm), BP Equities, Canara Bank Securities, Eureka Stock & Share Broking Services, SBI Capital Securities, and Ventura Securities have also assigned a 'subscribe' tag to this initial issue.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.