Senores Pharmaceuticals began its share allotment process today for its ₹582.11-crore initial public offering (IPO). The Ahmedabad-based pharma company’s issue, which closed on December 24, saw a robust subscription of 93.41 times.

The IPO received bids for 79.72 crore shares against 85.34 lakh shares on offer. Qualified institutional buyers led the demand with 94.66 times subscription, followed by non-institutional investors at 96.11 times. The retail portion was subscribed 89.23 times, while the employee quota saw 19.92 times subscriptions.

The grey market premium (GMP) stands at ₹230, suggesting a potential listing gain of around 59 per cent over the issue price of ₹391, though grey market premiums may not accurately indicate listing performance. The shares are tentatively scheduled to list on BSE and NSE on December 30.

Investors can check their allotment status on Link Intime India’s website or through the BSE portal. The IPO comprised a fresh issue of ₹500 crore and an offer-for-sale of 21 lakh equity shares.

Senores Pharmaceuticals, established in 2017, specializes in developing pharmaceutical products for regulated markets, including the US, Canada, and the UK. As of September 2024, the company has launched 55 products across therapeutic categories, including antibiotics and anti-fungal treatments.

Equirus Capital, Ambit, and Nuvama Wealth Management were the lead managers for the issue.