Zenith Drugs Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | February 19, 2024 to February 22, 2024 |
| Listing Date | February 27, 2024 |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 75 to ₹ 79 per share |
| Lot Size | 1,600 Shares |
| Total Issue Size | 51,48,800 shares (aggregating up to ₹ 40.68 Cr) |
| Fresh Issue | 51,48,800 shares (aggregating up to ₹ 40.68 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 1,20,00,000 |
| Share holding post issue | 1,71,48,800 |
| Market Maker portion | 8,52,800 shares Gretex Share Broking |
About Zenith Drugs Limited IPO
Zenith Drugs Ltd is specialised in manufacturing high quality and affordable medicines to support the patients in need. Zenith offers a wide range of formulations in various forms such as ORS Powder, Liquid Oral, Ointments, Creams, Gels and Liquid Externals, Capsules, Tablets. Zenith is enjoying respectable market share through its 100% owned subsidiaries Biozen Healthcare and Biogenesis Corporation in India. Zenith has gained expertise in manufacturing oral rehydration salt and presently one of the largest manufacturers of ORS sachets in central India. The quality of their product has been trusted by Ajanta Pharma, Micro Labs, May & Bakers, Troikaa etc. and recognized by more than 10 states of the Indian government as consistent suppliers.
Zenith Drugs IPO is a book-built issue of Rs 40.68 crores. The issue is entirely a fresh issue of 51.49 lakh shares.Zenith Drugs IPO price band is set at ₹75 to ₹79 per share. The minimum lot size for an application is 1600 Shares. Gretex Corporate Services Limited is the book running lead manager of the Zenith Drugs IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Zenith Drugs IPO is Gretex Share Broking.
Objectives of Zenith Drugs IPO
The Company intends to utilise the Net Fresh Issue Proceeds for the following Objectives:
- ● Purchase of Machinery & Equipment for Setting up a New Unit.
- ● Existing Manufacturing Block Upgradation.
- ● Working Capital Requirements.
- ● General Corporate Purposes.
Zenith Drugs Limited IPO Review
The company is in the pharma business with manufacturing and trading activities. It posted growth in its top lines for the reported periods, but sudden boost in its bottom lines from FY23 onwards raised eyebrows and concern over its sustainability. Based on FY24 annualised super earnings, the issue appears fully priced. Well-informed investors may park moderate funds for the medium term rewards.
Zenith Drugs Limited IPO Financial Information
Latest Revenue
6,948.43
₹ Crore
Profit After Tax
539.38
₹ Crore
Net Worth
2,264.96
₹ Crore
Total Borrowing
2,902.81
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 11,249.04 | 6,948.43 | 539.38 | 2,264.96 | 2,902.81 | ||||
| 31 Mar 2023 | 9,793.83 | 11,569.65 | 515.29 | 1,724.42 | 2,605.03 | ||||
| 31 Mar 2022 | 6,858.47 | 9,266.63 | 312.86 | 1,209.09 | 1,880.86 | ||||
| Amount in ₹ Crore | |||||||||
Zenith Drugs Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 35.13% |
| ROCE | 37.29% |
| Debt/Equity | 1.51 |
| RoNW | 29.88% |
| P/BV | 5.5 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.29 | 6.29 |
| P/E (x) | 18.4 | 12.56 |
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Competitive Strengths
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Zenith Drugs Limited IPO Timeline
| 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹126,400 |
| Retail (Max) | 1 | 1600 | ₹126,400 |
| HNI (Min) | 2 | 3,200 | ₹252,800 |