Zenith Drugs IPO: Check Price Band, Issue Size, Objectives & More

The subscription for Zenith Drugs’ initial public offering (IPO) commenced on February 19, 2024, and is set to conclude on February 22, 2024. This SME IPO involves a new offering with a pricing range of Rs 75 to Rs 79 per share, considering a face value of Rs 10 per share. The entirety of the issue comprises 51.49 lakh fresh shares. To participate, investors need to apply for a minimum lot size of 1,600 shares, with the option to bid in multiples of 1,600 shares.

About the company

Founded in 2000 by Ramniklal Soni, Zenith is a pharmaceutical company that focuses on producing and trading cost-effective, high-quality medicines, particularly generic drugs. The company’s product range encompasses items like ORS powder, liquid orals, ointments, liquid externals, and capsules.

Zenith extends its product distribution to various countries, including Costa Rica in Central America and the Caribbean, as well as the Pacific regions. Additionally, the company supplies its pharmaceuticals to nations such as Malawi, Mauritius, Mozambique, Sudan, Tanzania, Bhutan, Cambodia in Southeast Asia, Tajikistan, Liberia, Sierra Leone, and Conakry.

Price Band

The SME IPO involves a new offering with a pricing range of Rs 75 to Rs 79 per share.

Also read: Esconet Technologies IPO: Check Out Price Band, Issue Size & More

Issue Size

The entirety of the issue comprises 51.49 lakh fresh shares. Investors need to apply for a minimum lot size of 1,600 shares. They will have the option to bid in multiples of 1,600 shares.

Company Financials

Objectives of the Issue

1. The company intends to utilize the net proceeds of the net fresh issue for the following objectives:
2. Purchase of machinery and equipment for setting up a new unit
3. Existing manufacturing block upgradation
4. Working capital requirements
5. General corporate purposes.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.