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Zenith Drugs IPO

Zenith Drugs IPO

  • Status: Closed
  • RHP:
  • ₹ 120,000 / 1600 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    27 Feb 2024

  • Listing Price

    ₹ 110.00

  • Listing Change

    39.24%

  • Last Traded Price

    ₹ 109.25

IPO Details

  • Open Date

    19 Feb 2024

  • Close Date

    22 Feb 2024

  • IPO Price Range

    ₹ 75 to ₹ 79

  • IPO Size

    ₹ 40.68 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    27 Feb 2024

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IPO Timeline

Zenith Drugs IPO Subscription Status

Last Updated: 22 February 2024 7:24 PM by 5Paisa

Zenith Drugs Limited IPO is all set to open from 19th February to 22nd February 2024. The company is engaged in the business of manufacturing and trading pharmaceutical products. The IPO includes a fresh issue of 5,148,800 shares worth ₹40.68 cr. The share allotment date is 23rd February 2024, and the IPO will be listed on 27th February 2024 on the stock exchanges. The price band is ₹75 to ₹79 and the lot size is 1600 shares.

Gretex Corporate Services Limited is the book-running lead manager for this IPO, while   Bigshare Services Private Limited is the registrar. 

Objectives of Zenith Drugs IPO:

Zenith Drugs Limited plans to utilize the raised capital from the IPO to:

●    To upgrade the current manufacturing block.
●    To fund the purchase of machinery & equipment to set up a new unit.
●    To meet working capital requirements. 
●    General corporate purposes.
 

Established in 2000, Zenith Drugs Limited is engaged in the business of manufacturing and trading pharmaceutical products. The company specializes in making high-quality and affordable Medicines. The company has received FDA approval for 600+ Products.

Zenith Drugs is WHO-GMP compliant, which means that the company follows stringent guidelines set by the World Health Organization. It also has an ISO 9001:2015 certification for quality. The company’s product formulations include ORS Powder, Liquid Orals, Ointments, Liquid Externals, and Capsules. 

Zenith receives benefits under the MSME segment from the Government. The company has a presence in India as well as global markets.

Peer Comparison

●    Sudarshan Pharma Industries Limited 
●    Sigachi Industries Limited
 

For More Information:
Webstory on Zenith Drugs IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue from operations 114.51 91.65 73.40
EBITDA 9.37 6.83 7.02
PAT 5.15 3.13 3.02
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 97.93 68.58 46.54
Share Capital 0.40 0.40 0.40
Total Borrowings 80.67 56.47 37.59
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities -4.40 5.15 0.75
Net cash from / (used in) investing activities 0.10 -5.24 -1.43
Net cash flow from / (used in) financing activities 4.90 1.24 2.08
Net increase (decrease) in cash and cash equivalents 0.60 1.15 1.41


Strengths

1.    The company has a competitive advantage in terms of cost efficiency.
2.    It has extensive F&D departments for formulation.
3.    The company has a strong track record of regulatory compliance and quality assurance.
4.    It has a well-established international presence.
5.    The company has a diverse and well-balanced product portfolio with a well-managed supply chain and scalable business model. 
6.    It also has strong sales, marketing, and distribution capabilities.
7.    Experienced Promoter and management team.
 

Risks

1.    The company conducts business activities on a purchase-order basis and therefore doesn’t have long-term agreements.
2.    Operates in a highly competitive industry. 
3.    The revenues are dependent on the demand from the pharmaceutical industry.
4.    A significant portion of revenue is dependent on two products i.e., ORS Powder and Liquid Orals.
5.    Any adverse publicity regarding products could negatively impact the business. 
6.    It has reported negative cash flows in the past.
 

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FAQs

Zenith Drugs IPO opens from 19th February to 22nd February 2024.
 

The size of Zenith Drugs IPO is ₹40.68 cr. 

To apply for Zenith Drugs IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the  Zenith Drugs IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
You will receive a mandate notification to block funds in your UPI app.

The price band of Zenith Drugs IPO is fixed at ₹75 to ₹79 per share. 

The minimum lot size of Zenith Drugs IPO is 1600 shares and the investment required is ₹1,20,000.

The share allotment date of Zenith Drugs IPO is 23rd February 2024.

The Zenith Drugs IPO will be listed on 27th February 2024.

Gretex Corporate Services Limited is the book-running lead manager for Zenith Drugs IPO.

Zenith Drugs Limited plans to utilize the raised capital from the IPO to:

1.    To upgrade the current manufacturing block.
2.    To fund the purchase of machinery & equipment to set up a new unit.
3.    To meet working capital requirements. 
4.    General corporate purposes.