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New Delhi. If you also invest money in IPO then there is good news for you. Tomorrow i.e. Friday, the initial public offering (IPO) of Ahmedabad-based pharmaceutical company, Sinores Pharmaceuticals, will open. Retail investors will be able to bid for shares of this IPO till Tuesday, December 24. Even before the opening of the IPO, the shares of Sinores IPO are making waves in the gray market. Shares are trading at a premium of Rs 125 in the gray market. That means the gray market is indicating earnings from this IPO.
The price band of Sinores Pharmaceuticals IPO has been fixed at ₹372-₹391. There are 38 shares in one lot of IPO. Investors can apply for a minimum of 38 equity shares and multiples thereof. In this way, according to the upper price band, at least Rs 14,858 will have to be spent. By September 30, 2024, the company has launched 55 products in key therapeutic areas such as antibiotics and anti-fungal treatments. In the financial year 2023-24, the company earned a net profit of ₹32.71 crore and revenue of ₹217.34 crore.
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IPO details
Sinores Pharmaceuticals IPO will see the issuance of new shares worth ₹500 crore and the sale of 21 lakh equity shares by promoters and existing shareholders through offer-for-sale (OFS). The company aims to raise ₹582.11 crore at the upper end of the price band. The bidding process for anchor book has started from today i.e. 19th December. The proceeds from the IPO will be used for investment in the company’s subsidiaries, repayment of certain borrowings, meeting working capital requirements, acquisitions and other strategic initiatives.
Reservation for investors
75% of this IPO is reserved for qualified institutional bidders (QIBs). 15% of the IPO has been reserved for non-institutional investors (NIIs) and 10% for retail investors. The book running lead managers of this IPO are Aquirus Capital, Ambit and Nuvama Wealth Management, while Link Intime India is the registrar. The company’s shares will be listed on BSE and NSE on December 30.
(Disclaimer: Investment in IPO is subject to market risks. If you want to invest money in any of these, then first consult a certified investment advisor. AyraNews24x7 will not be responsible for any profit or loss of yours. .)
Tag: business news, IPO, tips to earn money, stock market, stock market
first published : December 19, 2024, 2:08 pm IST
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