Zenith Drugs was incorporated on 15 November 2000. It is a pharmaceutical manufacturing and trading company based in Indore. It specializes in manufacturing high-quality and affordable medicines and is also involved in generic medicines.
| Bidding Dates |
|---|
| 19 Feb 2024 - 22 Feb 2024 |
| Subscription |
|---|
| 104.84x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | 1 | 1600 | 5.1 M | ₹75 - ₹79 | 69.98 % | ₹386.2 M - ₹406.8 M | RHP DOC |
Zenith Drugs IPO SUBSCRIPTION STATUS
22 Feb '24Zenith Drugs IPO overall subscription rate was 104.84 times the total available shares
Zenith Drugs IPO retail subscription rate was 116.24 times in the retail segment
Zenith Drugs IPO non-institutional investor subscription rate was 308.98 times in the non-institutional investor category
Zenith Drugs IPO Qualified Institutional Bidder subscription rate was 35.62 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
22 Feb 2024 (Day 4) | 116.24x | 308.98x | 35.62x |
21 Feb 2024 (Day 3) | 15.85x | 7.72x | 1.18x |
20 Feb 2024 (Day 2) | 7.69x | 3.17x | 1.18x |
19 Feb 2024 (Day 1) | 2.74x | 0.8x | 0x |
Zenith Drugs FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY24 | 54.1 | 694.1 | -10.2 | -8.5 | 13.8% |
| FY23 | 51.5 | 1,145.2 | -44.1 | -43.0 | 8.5% |
| FY22 | 31.4 | 916.6 | 51.5 | 25.7 | 7.5% |
| FY21 | 30.3 | 734.0 | 7.6 | -6.7 | 9.6% |
Zenith Drugs IPO SUBSCRIPTION STATUS DETAILS
Zenith Drugs had 5.1 M shares on offer
Zenith Drugs IPO offer price was in the range ₹75 - ₹79
Zenith Drugs IPO minimum Investment was ₹120000
Zenith Drugs IPO issue size was ₹ 386.2 M - ₹ 406.8 M
Zenith Drugs had a minimum lot size of 1600 Shares per application
Zenith Drugs NUMBER OF SHARES ON OFFER
Zenith Drugs IPO IMPORTANT DATES
| Issue Open Date | 19 Feb 2024 |
| Issue close Date | 22 Feb 2024 |
| Allotment Date | 23 Feb 2024 |
| Refund Date | 26 Feb 2024 |
| Demat Account Credit Date | 26 Feb 2024 |
| Listing Date | 27 Feb 2024 |
| Listing on Exchange(s) | NSE |
| Zenith Drugs Allotment Status | Exchange |
Zenith Drugs IPO subscription opened on 19 Feb 2024, and closed on 22 Feb 2024
IPO allotment for Zenith Drugs was finalized on Friday, 23 Feb 2024
IPO listing for Zenith Drugs was on NSE on Tuesday, 27 Feb 2024
Zenith Drugs IPO LISTING GAINS
| Issue Price (adjusted) | 79.0 |
| Listing Open Price | 110.0 |
| Listing Close Price | 105.2 |
| Listing Gain% | 39.2% |
| Current Gain% | -46.8% |
Zenith Drugs Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Zenith Drugs Ltd. | 42 | 72 | 18.3 | -0.4 | 0.4 | 5.3 | 2.1 | 176.3 | 29.7 | 3.9 | -44.9 | 2.3 | -44.9 |
| Sun Pharmaceutical Industries Ltd. | 1945 | 466670.7 | 38.6 | 2.3 | 7.8 | 13.7 | 10.6 | 60433.8 | 10.8 | 11479.4 | 5 | 50.4 | 16.6 |
| Divi's Laboratories Ltd. | 8275 | 219675.3 | 75.1 | 2.8 | 19.6 | 15.3 | 12.8 | 11067 | 14 | 2568 | 17.2 | 110.2 | 26.8 |
| Torrent Pharmaceuticals Ltd. | 4924 | 187293.2 | 85.9 | 9.6 | 11.9 | 25.8 | 4.9 | 13886.2 | 20.3 | 2163.4 | 13.2 | 57.3 | 8.9 |
| Cipla Ltd. | 1463.8 | 118253.6 | 35.1 | -0.9 | 4.2 | 11.3 | 9.1 | 29044.6 | 2.2 | 3879.2 | -26.4 | 41.7 | -37.5 |
| Zydus Lifesciences Ltd. | 1114.2 | 112114.6 | 22.2 | 2.3 | 4.1 | 18.6 | 9.6 | 27657.9 | 17.6 | 5040 | 11.4 | 50.1 | 9.6 |
Zenith Drugs INFORMATION ON IPO ISSUE
About Zenith Drugs
Zenith Drugs was incorporated on 15 November 2000. It is a pharmaceutical manufacturing and trading company based in Indore. It specializes in manufacturing high-quality and affordable medicines and is also involved in generic medicines.
Object of the Issue
- Purchase of machinery & equipment to set up a new unit
- Existing manufacturing block upgradation
- Working capital requirements
- General corporate purposes
Zenith Drugs - PROMOTERS
| Name |
|---|
| Sandeep Bhardwaj |
| Bhupesh Soni |
| Ajay Singh Dassundi |
Zenith Drugs Lead Manager
Gretex Corporate Services Limited
info@gretexgroup.com
Zenith Drugs Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Zenith Drugs Strengths
Cost efficiency
The company has a competitive advantage in terms of cost efficiency. It is able to produce pharmaceutical products at a lower cost while maintaining high-quality standards
Regulatory compliance
The company has a strong track record of regulatory compliance and quality assurance. It consistently meets or exceeds stringent international standards set by regulatory bodies such as the FDA and WHO
Global Reach
The company boasts a well-established international presence with distribution networks spanning multiple countries
Zenith Drugs Risks
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, its promoters, and directors. Any adverse decision in such proceedings may have a material adverse effect on the business
Contingent liabilities
The company has certain contingent liabilities that have not been provided for in the financial statements. If these liabilities materialize, they may adversely affect the financial condition of the company
Negative cash flow
The company experienced negative cash flow in its operating activities in 2023 and its investing activities in 2022 and 2021. Sustained negative cash flow could impact the company's growth and business operations
IPO FAQs
The promoters of the company are Sandeep Bhardwaj, Bhupesh Soni and Ajay Singh Dassundi.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 75.0 - 79.0.
The IPO application opens on Feb 19, 2024 and closes on Feb 22, 2024.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 120,000.0, the maximum value for this IPO is Rs 126,400.0.
This IPO will be allotted on Feb 23, 2024.
The refund will be credited to your account on Feb 26, 2024.
The allotted shares will be credited to your demat on Feb 26, 2024.
Zenith Drugs Ltd.’s shares listed on the stock exchanges on Feb 27, 2024.