The Zenith Drugs date has been confirmed from February 19, 2024 and closes on February 22, 2024.
Zenith Drugs Developers IPO is a fixed price issue of Rs 40.68 crores. The price band is set at ₹75 to ₹79 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹126,400. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹252,800.
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Bidding Dates
Feb 19-22
Price Range
₹75 to ₹79 per share
Face Value
₹10 per share
GMP
₹35
Zenith Drugs IPO GMP
The Zenith Drugs IPO GMP is ₹35.
IPO Overview
Zenith Drugs IPO is a book-built issuance worth Rs 40.68 crores. The issue is wholly new, with 51.49 lakh shares issued. Zenith Drugs initial public offering (IPO) will be available for subscription on February 19, 2024, and close on February 22, 2024. The allotment for Zenith Drugs IPO is expected to be finalized on Friday, February 23, 2024. Zenith Drugs IPO will be listed on NSE SME with a tentative listing date of Tuesday, February 27, 2024.
Zenith Drugs IPO price range is set at ₹75-₹79 per share. The minimum lot size for an application is 1600 shares. The minimum investment for retail investors is ₹126,400. The minimum investment for HNI is 2 lots (3,200 shares) of ₹252,800.
Zenith Drugs IPO Details
| IPO Date | February 19, 2024 to February 22, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹75 to ₹79 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,148,800 shares (aggregating up to ₹40.68 Cr) |
| Fresh Issue | 5,148,800 shares (aggregating up to ₹40.68 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 12,000,000 |
| Share holding post issue | 17,148,800 |
| Market Maker portion | 852,800 shares |
Zenith Drugs Limited Financial Information
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 11,249.04 | 9,793.83 | 6,858.47 |
| Revenue | 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 | |||
Zenith Drugs IPO Timeline
| IPO Open Date | Monday, February 19, 2024 |
| IPO Close Date | Thursday, February 22, 2024 |
| Basis of Allotment | Friday, February 23, 2024 |
| Initiation of Refunds | Monday, February 26, 2024 |
| Credit of Shares to Demat | Monday, February 26, 2024 |
| Listing Date | Tuesday, February 27, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 22, 2024 |
Company Profile
Zenith Drugs Limited, founded in 2000, is a pharmaceutical firm that specialises in manufacturing and marketing high-quality, low-cost pharmaceuticals, including generic drugs. The company follows WHO-GMP rules and has obtained ISO 9001:2015 certification from a reputable EuroUK certification authority, demonstrating its dedication to quality. The Food and Drug Administration has approved more than 600 items, 325 of which are now in production. The company is now establishing a new production facility at Village Muradpura, Depalpur, Indore,
Madhya Pradesh. The company sells its products in Costa Rica, the Caribbean and Pacific areas, Malawi, Mauritius, Mozambique, Sudan, Tanzania, Bhutan, Cambodia in Southeast Asia, Tajikistan, Liberia, Sierra Leone, and Conakry. Zenith Drugs Limited specialises in third-party manufacturing, or white label manufacturing, for prestigious pharmaceutical businesses such as Ajanta Pharma, Bio Medical Laboratories, and Zest Pharma, among others. As of March 31, 2023, there are 89 employees, with 61 on payroll and 28 on contract.
Registrar Info
| Name | Bigshare Services Pvt Ltd |
| Phone number | +91-22-6263 8200 |
| Email ID | ipo@bigshareonline.com |
| Website | ipo.bigshareonline.com |
Contact Details
| Name | Zenith Drugs Limited |
| Phone number | +91 8435501867 |
| Email ID | info@zenithdrugs.com |
| Website | zenithdrugs.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
