Zenith Drugs IPO is a book-built issue of Rs 40.68 crore. The issue is entirely a fresh issue of 51.49 lakh shares.
The subscription period for the Zenith Drugs IPO begins on February 19, 2024, and ends on February 22, 2024. On Friday, February 23, 2024, the allotment for the Zenith Drugs IPO is anticipated to be finalized. Tuesday, February 27, 2024, has been set as the provisional listing date for Zenith Drugs IPO on the NSE SME.
Small and medium-sized company Zenith Drugs will be launching its initial public offering (IPO) on Monday, February 19, 2024, with subscriptions going on sale. It comprises a fresh issue with a price band set at ₹75 to ₹79 per share at a face value of ₹10 per share. The NSE SME IPO will close on Thursday, February 22.
Bigshare Services Pvt Ltd is the registrar for the Zenith Drugs IPO, and Gretex Corporate Services Limited is the book-running lead manager. Gretex Share Broking is the market maker for the Zenith Drugs IPO.
See the Zenith Drugs IPO RHP for more specific details.
Zenith Drugs Limited IPO Details
| IPO Date | February 19, 2024 to February 22, 2024 |
| 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 IPO Timeline (IPO Schedule)
| 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 |
Zenith Drugs IPO Lot Size
A minimum of 1600 shares, as well as multiples of those shares, are up for bid. The minimum and maximum share and amount of investments made by HNIs and retail investors are shown in the table below.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1600 | ₹126,400 |
| Retail (Max) | 1 | 1600 | ₹126,400 |
| HNI (Min) | 2 | 3,200 | ₹252,800 |
Zenith Drugs Limited is a pharmaceutical firm that was founded in 2000 and specializes on producing and selling high-quality, reasonably priced medications, including generic medications.
The company’s dedication to quality is evidenced by its adherence to WHO-GMP principles and its recent ISO 9001:2015 accreditation from a reputable EuroUK certifying authority.
- ORS Powder
- Liquid Orals
- Ointments
- Liquid Externals
- Capsules
Over 600 products have received approval from the Food and Drug Administration, and 325 of those are presently being manufactured.
In Village Muradpura, Depalpur, Indore, Madhya Pradesh, the company is currently establishing a new manufacturing facility.
The company exports its goods to nations including Malawi, Mauritius, Mozambique, Sudan, Tanzania, Bhutan, Cambodia in Southeast Asia, Tajikistan, Liberia, Sierra Leone, and Conakry. It also supplies products to Costa Rica in Central America, the Caribbean, and the Pacific.
White label manufacturing, or third-party manufacturing, is Zenith Drugs Limited’s area of expertise. It serves prestigious pharmaceutical businesses like Ajanta Pharma, Bio Medical Laboratories, and Zest Pharma, among others.
Zenith Drugs IPO Promoter Holding
Mr. Sandeep Bhardwaj, Mr. Bhupesh Soni, and Mr. Ajay Singh Dassundi are the company’s promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 69.98% |
Objects of the Issue (Zenith Drugs IPO Objectives)
The following are the objects for which the Company plans to use the Net Fresh Issue Proceeds:
- Purchase of Machinery & Equipments for Setting up New Unit
- Existing Manufacturing Block Upgradation
- Working Capital Requirements
- General Corporate Purposes.
Zenith Drugs Limited (IPO Details) Financial Information (Restated Consolidated)
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 |
| 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 | |||
Key Performance Indicator
‘Zenith Drugs’ IPO has a market valuation of Rs 135.48 Cr.
| KPI | Values |
| ROE | 35.13% |
| ROCE | 37.29% |
| Debt/Equity | 1.51 |
| RoNW | 29.88% |
| P/BV | 5.5 |
Zenith Drugs Limited (Company) IPO FAQs
What is Zenith Drugs IPO?
- Zenith Drugs IPO is a SME IPO of 5,148,800 equity shares of the face value of ₹10 aggregating up to ₹40.68 Crores. The issue is priced at ₹75 to ₹79 per share. The minimum order quantity is 1600 Shares.
- February 19, 2024 is when the IPO begins, and February 22, 2024 is when it ends.
- The IPO registrar is Bigshare Services Pvt Ltd. The shares are proposed to be listed on NSE SME.
- See the Zenith Drugs IPO RHP for more specific details.
- More Information about Zenith Drugs IPO.
When Zenith Drugs IPO will open?
- On February 19, 2024, the IPO for Zenith Drugs will begin, and it will end on February 22, 2024.
How to apply for Zenith Drugs IPO?
You can apply online for the Zenith Drugs IPO with ASBA or UPI as your payment option. You can access the ASBA IPO application through your bank account’s net banking. Brokers who do not provide banking services are the ones who offer the UPI IPO application. Learn more about applying for an IPO online with ICICI Bank, HDFC Bank, SBI Bank, 5Paisa, Nuvama, Zerodha, Dhan and Upstox.