Bookbuilding IPO | ₹41 Cr | Listed at NSE SME | Mon, Feb 19, 2024 - Thu, Feb 22, 2024
Zenith Drugs IPO is a book build issue of ₹40.68 crores. The issue is entirely a fresh issue of 0.51 crore shares of ₹40.68 crore.
Zenith Drugs IPO bidding started from Feb 19, 2024 and ended on Feb 22, 2024. The allotment for Zenith Drugs IPO was finalized on Feb 23, 2024. The shares got listed on NSE SME on Feb 27, 2024.
Zenith Drugs IPO price band is set at ₹79 per share. The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,26,400 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,52,800.
Gretex Corporate Services Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Gretex Share Broking Pvt.Ltd..
Refer to Zenith Drugs IPO RHP for detailed Information.
IPO Open
Mon, Feb 19, 2024
IPO Close
Thu, Feb 22, 2024
Issue Price
₹79 per share
Market Cap (Pre-IPO)
₹135.48 Cr
| IPO Date | 19 to 22 Feb, 2024 |
| Listed on | Tue, Feb 27, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹75 to ₹79 |
| Issue Price | ₹79 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 51,48,800 shares (agg. up to ₹41 Cr) |
| Reserved for Market Maker | 8,52,800 shares Gretex Share Broking Pvt.Ltd. (agg. up to ₹7 Cr) |
| Fresh Issue (Ex Market Maker) | 42,96,000 shares (agg. up to ₹34 Cr) |
| Net Offered to Public | 42,96,000 shares (agg. up to ₹34 Cr) |
| Share Holding Pre Issue | 1,20,00,000 shares |
| Share Holding Post Issue | 1,71,48,800 shares |
| NSE Symbol | ZENITHDRUG |
| ISIN | INE0QWN01013 |
Zenith Drugs IPO comprises a total issue size of 51,48,800 shares. The net offer to the public is 42,96,000 shares, after excluding 8,52,800 shares allotted on a firm basis. Of the Net offer 21,47,200 (49.98%) are allocated to QIB, 6,44,800 (15.01%) allocated to NII 15,04,000 (35.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 21,47,200 | 49.98% | 41.70% |
| − Anchor Investor Shares Offered | 12,88,000 | 25.02% | |
| − QIB (Ex. Anchor) Shares Offered | 8,59,200 | 16.69% | |
| NII (HNI) Shares Offered | 6,44,800 | 15.01% | 12.52% |
| Retail Shares Offered | 15,04,000 | 35.01% | 29.21% |
| Firm Reservations | |||
| Market Maker Shares Offered | 8,52,800 | 16.56% | |
| Total Shares Offered | 51,48,800 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,26,400 |
| Retail (Max) | 1 | 1,600 | ₹1,26,400 |
| HNI (Min) | 2 | 3,200 | ₹2,52,800 |
Zenith Drugs IPO raises ₹10.18 crore from anchor investors. Zenith Drugs IPO Anchor bid date is February 16, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Feb 16, 2024 |
| Shares Offered | 12,88,000 |
| Anchor Portion (₹ Cr.) | 10.18 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Mar 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, May 23, 2024 |
Incorporated in 2000, Zenith Drugs Limited is a pharmaceutical company specialising in manufacturing and trading high-quality, affordable medicines, including generic drugs.
The company adheres to WHO-GMP guidelines and has received the ISO 9001:2015 certification from a respected EuroUK certification body, demonstrating its commitment to quality.
The product portfolio of the company includes
The Food & Drugs Administration has approved over 600 products, of which 325 are currently in production.
The company is in the process of setting up a new manufacturing facility in Village Muradpura, Depalpur, Indore, Madhya Pradesh.
The company supplies its products to countries such as Costa Rica in Central America and the Caribbean and Pacific regions, Malawi, Mauritius, Mozambique, Sudan, Tanzania, Bhutan , Cambodia in Southeast Asia, Tajikistan, Liberia, Sierra Leone, and Conakry.
Zenith Drugs Limited specializes in third-party manufacturing, also known as white label manufacturing, for esteemed pharmaceutical companies such as Ajanta Pharma, Bio Medical Laboratories, and Zest Pharma, among others.
There are currently 89 employees as of March 31, 2023 - 61 on payroll and 28 on contract.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 112.49 | 97.94 | 68.58 |
| Total Income | 69.48 | 115.70 | 92.67 |
| Profit After Tax | 5.39 | 5.15 | 3.13 |
| NET Worth | 22.65 | 17.24 | 12.09 |
| Reserves and Surplus | 10.65 | 16.84 | 11.69 |
| Total Borrowing | 29.03 | 26.05 | 18.81 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Purchase of Machinery & Equipments for Setting up New Unit | 10.61 |
| 2 | Existing Manufacturing Block Upgradation | 2.11 |
| 3 | Working Capital Requirements | 14.40 |
| 4 | General Corporate Purposes | 8.84 |
| Total | 35.96 |
| KPI | |
|---|---|
| ROE | 35.13% |
| ROCE | 37.29% |
| Debt/Equity | 1.51 |
| RoNW | 29.88% |
| PAT Margin | 4.50% |
| Price to Book Value | 5.50 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.29 | 6.29 |
| P/E (x) | 18.4 | 12.56 |
| Promoter Holding | 100.00% | 69.98% |
| Market Cap | ₹135.48 Cr. |
The Zenith Drugs IPO is subscribed 179.18 times on February 22, 2024 6:21:00 PM (Day 4). The public issue subscribed 139.28 times in the retail category, 106.72 times in the QIB category, and 368.77 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 106.72 | 8,59,200 | 9,16,97,600 |
| NII* | 368.77 | 6,44,800 | 23,77,82,400 |
| Retail | 139.28 | 15,04,000 | 20,94,81,600 |
| Total | 179.18 | 30,08,000 | 53,89,61,600 |
Total Application : 1,30,926
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to the Lead Manager | 1.30 |
| 2 | Underwriting Fees | 1.03 |
| 3 | Market Making Fees | 2.14 |
| 4 | Fees payable to Registrar to Issue | 0.03 |
| 5 | Fees to Legal Advisor | 0.02 |
| 6 | Advertisement Expenses | 0.05 |
| 7 | Fees payable to Regulators including Stock Exchange & Depositories | 0.08 |
| 8 | Printing & Distribution Expenses | 0.01 |
| 9 | Marketing & Selling Expenses | 0.03 |
| 10 | Payment to Sponsor Bank | 0.02 |
| 11 | Statutory & Other Reports | 0.02 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹79.00 |
| Open | ₹110.00 |
| Low | ₹104.50 |
| High | ₹114.50 |
| Last Trade | ₹105.15 |
Lead Manager Reports
Zenith Drugs IPO is a SME IPO of 51,48,800 equity shares of the face value of ₹10 aggregating up to ₹41 Crores. The issue is priced at ₹79 per share. The minimum order quantity is 1600.
The IPO opens on Mon, Feb 19, 2024, and closes on Thu, Feb 22, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Zenith Drugs IPO using UPI as a payment gateway. Zerodha customers can apply in Zenith Drugs IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Zenith Drugs IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Zenith Drugs IPO opens on Mon, Feb 19, 2024 and closes on Thu, Feb 22, 2024.
Zenith Drugs IPO lot size is 1600, and the minimum amount required for application is ₹1,26,400.
You can apply in Zenith Drugs IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Zenith Drugs IPO will be done on Friday, February 23, 2024, and the allotted shares will be credited to your demat account by Mon, Feb 26, 2024. Check the Zenith Drugs IPO allotment status.
The Zenith Drugs IPO listing date is on Tue, Feb 27, 2024.
