Zenith Drugs IPO opens today: Price band, issue size, listing date and more

Zenith Drugs IPO opens today: Price band, issue size, listing date and more

The initial public offer (IPO) of Zenith Drugs will open today. The pharma firm plans to raise Rs 40.6 crore through the share sale.  The IPO will close on February 12.The IPO is entirely a fresh issue of 51.49 lakh shares. The shares of Zenith Drugs will list on NSE SME with tentative market debut date of February 27, 2024.

The allotment of shares for Zenith Drugs IPO is likely to be finalised on February 23, 2024.

The price band for Zenith Drugs IPO is fixed at Rs 75 to Rs 79 per share.  The minimum lot size for an application is 1,600 shares. The minimum amount of investment retail investors can do is Rs 126,400. The minimum lot size investment for HNI is two lots (3,200 shares) which amounts to Rs 252,800.

Around 50% of the issue is reserved for qualified institutional buyers and 35% for retail investors. The rest 15% portion is meant for non-institutional investors.

The book running lead manager of the IPO is Gretex Corporate Services, while Bigshare Services Pvt Ltd is the registrar for the share sale. The market maker for Zenith Drugs IPO is Gretex Share Broking.

The promoters of the company hold 100% stake which they intend to trim down to 69.98% post the share sale.

The proceeds from the IPO will primarily be used for the purchase of machinery, setting up a new plant and existing manufacturing block upgrade. The net proceeds will also be used for working capital requirements and general corporate purposes.

Zenith Drugs Limited is a pharmaceutical firm specialising in manufacturing and trading high-quality, affordable medicines, including generic drugs. The product portfolio of the company includes ORS powder and liquid orals.

Watch Live TV in English

Watch Live TV in Hindi