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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 ₹79.00 per share . The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,20,000 (1600 shares). The minimum lot size investment for 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 Date | February 19, 2024 to February 22, 2024 |
| Listing Date | February 27, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹75 to ₹79 per share |
| Issue Price Final | ₹79 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 51,48,800 shares (aggregating up to ₹40.68 Cr) |
| Reserved for Market Maker | 8,52,800 shares Gretex Share Broking Pvt.Ltd. (aggregating up to ₹6.74 Cr) |
| Net Offered to Public | 42,96,000 shares (aggregating up to ₹33.94 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,20,00,000 shares |
| Share Holding Post Issue | 1,71,48,800 shares |
Zenith Drugs IPO offers total 51,48,800 shares. Out of which 21,47,200 (41.70%) allocated to QIB, 8,59,200 (16.69%) allocated to QIB, 6,44,800 (12.52%) allocated to NII, 15,04,000 (29.21%) allocated to RII and 12,88,000 (25.02%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 8,52,800 (16.56%) |
| QIB Shares Offered | 21,47,200 (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 (12.52%) |
| Retail Shares Offered | 15,04,000 (29.21%) |
| Total Shares Offered | 51,48,800 (100.00%) |
Zenith Drugs IPO raises ₹10.18 crore from anchor investors. Zenith Drugs IPO Anchor bid date is February 16, 2024. Zenith Drugs IPO Anchor Investors list
| Bid Date | February 16, 2024 |
| Shares Offered | 12,88,000 |
| Anchor Portion Size (In Cr.) | 10.18 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 23, 2024 |
Zenith Drugs IPO opens on February 19, 2024, and closes on February 22, 2024.
| IPO Open Date | Mon, Feb 19, 2024 |
| IPO Close Date | Thu, Feb 22, 2024 |
| Tentative Allotment | Fri, Feb 23, 2024 |
| Initiation of Refunds | Mon, Feb 26, 2024 |
| Credit of Shares to Demat | Mon, Feb 26, 2024 |
| Tentative Listing Date | Tue, Feb 27, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Feb 22, 2024 |
Investors can bid for a minimum of 1,600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
Zenith Drugs Limited's revenue increased by 24.85% and profit after tax (PAT) rose by 64.7% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 11,249.04 | 9,793.83 | 6,858.47 |
| Total Income | 6,948.43 | 11,569.65 | 9,266.63 |
| Profit After Tax | 539.38 | 515.29 | 312.86 |
| Net Worth | 2,264.96 | 1,724.42 | 1,209.09 |
| Reserves and Surplus | 1,064.96 | 1,684.42 | 1,169.09 |
| Total Borrowing | 2,902.81 | 2,605.03 | 1,880.86 |
| Amount in ₹ Lakhs | |||
The market capitalization of Zenith Drugs IPO is ₹135.48 Cr.
| KPI | Values |
|---|---|
| ROE | 35.13% |
| ROCE | 37.29% |
| Debt/Equity | 1.51 |
| RoNW | 29.88% |
| Price to Book Value | 5.50 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 4.29 | 6.29 |
| P/E (x) | 18.4 | 12.56 |
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects
[Dilip Davda] The company is in the pharma business with manufacturing and trading activities. It posted growth in its top lines for the reported periods, but sudden boost in its bottom lines from FY23 onwards raise eyebrows and concern over its sustainability. Based on FY24 annualized super earnings, the issue appears fully priced. Well-informed investors may park moderate funds for the medium term rewards. Read detail review...
| Listing Date | February 27, 2024 |
| BSE Script Code | |
| NSE Symbol | ZENITHDRUG |
| ISIN | INE0QWN01013 |
| Final Issue Price | ₹79 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹79.00 |
| Open | ₹110.00 |
| Low | ₹104.50 |
| High | ₹114.50 |
| Last Trade | ₹105.15 |
Zenith Drugs Ltd.
K. No. 72 / 5,
Village Muradpura
NA Depalpur,
Indore, Madhya Pradesh, 453001
Phone: +91 8435501867
Email: info@zenithdrugs.com
Website: https://zenithdrugs.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Zenith Drugs IPO is a SME IPO of 51,48,800 equity shares of the face value of ₹10 aggregating up to ₹40.68 Crores. The issue is priced at ₹79 per share. The minimum order quantity is 1600.
The IPO opens on February 19, 2024, and closes on February 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 February 19, 2024 and closes on February 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 Monday, February 26, 2024. Check the Zenith Drugs IPO allotment status.
The Zenith Drugs IPO listing date is on Tuesday, February 27, 2024.
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