Zenith Drugs is scheduled to hit the market on February 19, 2024 and close on February 22, 2024. Zenith Drugs plans to raise around ₹40.68 Cr through an IPO with a sale of up to 5,148,800 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%
Zenith Drugs Limited, founded in 2000, is a pharmaceutical company that specializes in producing and selling high-quality and cost-effective medicines, including generic drugs. They strictly adhere to WHO-GMP guidelines and have been awarded the ISO 9001:2015 certification, showcasing their dedication to maintaining superior quality standards. Their diverse product portfolio consists of items such as ORS Powder, Liquid Orals, Ointments, Liquid Externals, and Capsules, with over 600 products approved by the Food & Drugs Administration, and 325 currently in production.
Currently, Zenith Drugs Limited is in the process of establishing a new manufacturing facility in Village Muradpura, Depalpur, Indore, Madhya Pradesh. They distribute their products to countries across Central America, the Caribbean, the Pacific regions, Southeast Asia, and Africa. Additionally, the company offers third-party manufacturing services for prominent pharmaceutical companies like Ajanta Pharma, Bio Medical Laboratories, and Zest Pharma. As of March 31, 2023, Zenith Drugs Limited employs 89 individuals, with 61 being permanent staff members and 28 on contract.
Zenith Drugs IPO Details
Zenith Drugs IPO opens on Feb 19, 2024, and closes on Feb 22, 2024. The Listing date for Zenith Drugs IPO is on Feb 27, 2024. The price band for IPO is ₹75 to ₹79 per share and lot size of 1600 Shares.
| IPO Date | Feb 19, 2024 to Feb 22, 2024 |
| Listing Date | Feb 27, 2024 |
| Price | ₹75 to ₹79 per share |
| Lot Size | 1600 Shares |
| Issue Size | ₹40.68 Cr |
| Face Value | ₹10 per share |
Zenith Drugs IPO Tentative Timetable
Zenith Drugs opening date is February 19, 2024 and close date is February 22, 2024. The IPO allotment date is February 23, 2024. The refund initiation of IPO is on February 26, 2024. The credit of shares in demat account is on February 26, 2024. The listing date is on February 27, 2024.
| Event | Date |
|---|---|
| IPO Opening | Feb 19, 2024 |
| IPO Closing | Feb 22, 2024 |
| IPO Allotment Date | Feb 23, 2024 |
| Refund Initiation | Feb 26, 2024 |
| Shares Credit to Demat | Feb 26, 2024 |
| Lisiting Date | Feb 27, 2024 |
Zenith Drugs IPO Lot Size
Lot Size of this IPO is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹126,400).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 1600 | ₹126,400 |
| Retail(Maximum) | 1 | 1600 | ₹126,400 |
| HNI (Minimum) | 2 | 3200 | ₹252,800 |
Zenith Drugs IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 69.98% |
Zenith Drugs IPO Review
Zenith Drugs Ltd., a pharmaceutical company based in Indore, is gearing up to launch its maiden book building route IPO on February 19, 2024, with a price band of Rs. 75 – Rs. 79 per share. The IPO consists of 5148800 equity shares, representing 30.02% of the post-IPO paid-up capital. The company plans to utilize the funds raised for various purposes, including machinery purchase, unit upgradation, working capital, and general corporate needs. While Zenith Drugs Ltd. has demonstrated consistent growth in its financial performance, the sudden increase in its bottom line from FY23 onwards has sparked concerns about its long-term sustainability.
In comparison to its listed peers like Sudarshan Pharma and Sigachi Ind., Zenith Drugs Ltd. seems to be fully priced based on its FY24 annualized super earnings. The company has not declared any dividends for the reported periods but pledges to adopt a sensible dividend policy aligned with its financial performance. With an average EPS of Rs. 3.44 and RONW of 29.23%, Zenith Drugs Ltd. presents an enticing opportunity for informed investors seeking moderate-term returns. However, the sharp rise in bottom lines and the apparent full pricing of the IPO call for a cautious approach when considering investing in this offering.
Potential investors are advised to conduct thorough research and seek professional advice before delving into Zenith Drugs Ltd.'s IPO. While the company's strong foundation and commitment to quality manufacturing are commendable, the sudden boost in profitability and pricing concerns warrant careful consideration. Investors looking to venture into the pharmaceutical sector should carefully assess Zenith Drugs Ltd.'s financials and growth prospects to make informed investment decisions. Overall, while the IPO presents opportunities, it also poses risks that prudent investors should evaluate before diving in.
Zenith Drugs IPO Subscription Status (Bidding Details)
Table not foundZenith Drugs IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Zenith Drugs IPO FAQs
What is Zenith Drugs IPO?
Zenith Drugs is issuing 5,148,800 equity shares with a face value of ₹10 each, totaling up to ₹40.68 Cr. The shares are being offered at a price of ₹75 to ₹79 each, with a minimum order quantity of 1600 shares.
Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Zenith Drugs IPO will open?
Zenith Drugs will open on February 19, 2024 for QIB, NII, and Retail Investors.
When Zenith Drugs IPO will end?
Zenith Drugs will end on February 22, 2024.
What is Zenith Drugs IPO Size?
Zenith Drugs IPO size is ₹40.68 Cr.
What is Zenith Drugs IPO Price Band?
Zenith Drugs price band is ₹75 to ₹79 per share.
What is the Zenith Drugs IPO Allotment Date?
Zenith Drugs allotment date is February 23, 2024.
What is the Zenith Drugs IPO Listing Date?
Zenith Drugs listing date is February 27, 2024. The IPO is to be listed on BSE and NSE.
How to Zenith Drugs IPO through Zerodha?
To apply for the IPO “Zenith Drugs” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Zenith Drugs IPO through Upstox?
To apply for the IPO “Zenith Drugs” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Zenith Drugs IPO Allotment Status?
For Zenith Drugs IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Zenith Drugs IPO GMP?
You can check out here: Zenith Drugs IPO GMP