Review of GMP and subscription status for Senores Pharmaceuticals' third day of IPO. Do you want to apply?

The IPO GMP for Senores Pharmaceuticals is ₹233 today, which is ₹33 more than the IPO GMP of ₹200 on Monday.

Senores Pharmaceuticals Initial Public Offering (IPO): On December 20, 2024, the bidding for Senores Pharmaceuticals Limited's IPO opened, and it will continue until December 24, 2024. Investors have only one day to submit an application for the Senores Pharmaceuticals IPO because the public offering bidding closes at 5:00 PM tonight. Senores Pharmaceuticals' IPO subscription status indicates that primary market investors have responded favorably to the book build issue. The grey market has also become positive on Senores Pharmaceuticals shares after the company's IPO subscription status was solid. Observers of the stock market claim thatThe grey market price (GMP) for Senores Pharmaceuticals' initial public offering (IPO) has increased from 200 to 233 today.

Today's Senores Pharmaceuticals IPO GMP

As previously stated, Senores Pharmaceuticals' IPO GMP today is ₹233, which is ₹33 more than their IPO GMP on Monday, which was ₹200. According to market watchers, the significant reaction from investors and the trend reversal on Dalal Street may be the cause of the increase in grey market sentiments surrounding Senores Pharmaceuticals' first public offering. They claimed that on the third day of bidding, investors might be drawn to firm shares that are trading 60% over the upper price range of ₹391 per equity share.
 
Status of Senores Pharmaceuticals' IPO subscription

 
The public issue was booked 78.78 times, the retail section of the book build issue was subscribed 81.01 times, the NII portion was filled 91.44 times, and the QIB segment was subscribed 72.62 times at 3:12 PM on the third day of bidding.

Evaluation of Senores Pharmaceuticals' IPO

Putting the public issue under the "subscribe" tag, according to Motilal Oswal, "Senores has carved out a niche for itself in the pharmaceutical industry and expanded quickly thanks to its strategically placed approach." On a diluted and annualized basis, the issue is priced at 37.6x FY25E P/E at ₹391, which appears to be a fair value in relation to rivals. Considering its involvement in intricate niche products, solid financials, and positive long-term relationships with well-known clientele,The IPO is open for investors to subscribe to.

Senores Pharmaceuticals Limited develops and manufactures a range of pharmaceutical goods primarily for the regulated markets of the US, Canada, and the UK, while also servicing emerging regions, according to Anand Rathi, who has also given the public issue a "buy" recommendation. The company is present in forty-three countries and specializes in sophisticated specialty pharmaceutical products, APIs, and critical care injectables. With a market valuation of ₹18,006 million after the issuance of equity shares and a return on net worth of 23.6% based on FY24, the firm is valued at a P/E of 55x at the upper price band. In terms of valuation, the business is reasonably priced. Consequently, we advise giving the IPO a "Subscribe" rating.

Additionally, BP Equities, Aditya Birla (broking arm),This first issue has also been given a "subscribe" designation by Canara Bank Securities, Eureka Stock & Share Broking Services, SBI Capital Securities, and Ventura Securities.