Zenith Drugs IPO: Price band, issue size and other key details here

Zenith Drugs IPO: The IPO includes entirely fresh equity issue of 51.4 lakh shares. Check issue size, price band and other details here

Published on: Feb 19, 2024, 08:02:13 IST

By HT News Desk

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Zenith Drugs IPO: Zenith Drugs initial public offering (IPO) will open for subscription today (February 19). Through the issue, Zenith Drugs aims to raise ₹40.6 crore and list the shares on the NSE SME platform. Before subscribing to the issue, here are top things to know about the public offer:

Zenith Drugs IPO: Zenith is a reputable pharmaceutical manufacturing unit.

Zenith Drugs IPO: What you need to know about the company?

Zenith Drugs is a reputable pharmaceutical manufacturing unit with a diverse portfolio of formulations and a wide range of medicines. It is currently ranked third in pharmaceutical production.

Zenith Drugs IPO: What is the size of the issue?

The IPO includes entirely fresh equity issue of 51.4 lakh shares. Through the issue, the company attempts to raise ₹40.6 crore.

Zenith Drugs IPO: What is the price band of the issue?

Zenith Drugs is offering its shares at ₹75-79 apiece. Investors can bid for 1,600 shares in 1 lot in the issue.

Zenith Drugs IPO: What will the company do with the proceeds?

The proceeds from the public offer will be used for the purchase of machinery, setting up a new plant and existing manufacturing block upgradation. As per the company, the net proceeds will also be used for working capital requirements and general corporate purposes.

Zenith Drugs IPO: Who are the lead managers and registrar?

Gretex Corporate Services is the book-running lead manager of the IPO. Bigshare Services is the registrar of the issue.

Zenith Drugs IPO: What is the structure of the issue?

Around 50% of the offer is reserved for qualified institutional buyers and 35% for retail investors. The rest 15% for non-institutional investors.

Zenith Drugs IPO: When will the IPO close?

The IPO opens on February 19 and will close on February 21.

Zenith Drugs IPO: When will the allotment be made?

The final allotment is likely to be made on February 22.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More