Zenith Drugs IPO: The IPO includes entirely fresh equity issue of 51.4 lakh shares. Check issue size, price band and other details here
Zenith Drugs IPO: Zenith Drugs initial public offering (IPO) will open for subscription today (February 19). Through the issue, Zenith Drugs aims to raise ₹40.6 crore and list the shares on the NSE SME platform. Before subscribing to the issue, here are top things to know about the public offer:
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Zenith Drugs IPO: What you need to know about the company?
Zenith Drugs is a reputable pharmaceutical manufacturing unit with a diverse portfolio of formulations and a wide range of medicines. It is currently ranked third in pharmaceutical production.
Zenith Drugs IPO: What is the size of the issue?
The IPO includes entirely fresh equity issue of 51.4 lakh shares. Through the issue, the company attempts to raise ₹40.6 crore.
Zenith Drugs IPO: What is the price band of the issue?
Zenith Drugs is offering its shares at ₹75-79 apiece. Investors can bid for 1,600 shares in 1 lot in the issue.
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Zenith Drugs IPO: What will the company do with the proceeds?
The proceeds from the public offer will be used for the purchase of machinery, setting up a new plant and existing manufacturing block upgradation. As per the company, the net proceeds will also be used for working capital requirements and general corporate purposes.
Zenith Drugs IPO: Who are the lead managers and registrar?
Gretex Corporate Services is the book-running lead manager of the IPO. Bigshare Services is the registrar of the issue.
Zenith Drugs IPO: What is the structure of the issue?
Around 50% of the offer is reserved for qualified institutional buyers and 35% for retail investors. The rest 15% for non-institutional investors.
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Zenith Drugs IPO: When will the IPO close?
The IPO opens on February 19 and will close on February 21.
Zenith Drugs IPO: When will the allotment be made?
The final allotment is likely to be made on February 22.
