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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 bidding started from February 19, 2024 and ended on February 22, 2024. The allotment for Zenith Drugs IPO was finalized on Friday, February 23, 2024. The shares got listed on NSE SME on February 27, 2024.
Zenith Drugs IPO price band is set at ₹75 to ₹79 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹126,400. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹252,800.
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.
Refer to Zenith Drugs IPO RHP for detailed information.
| 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 | 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 Gretex Share Broking |
Zenith Drugs IPO offers 5,148,800 shares. 859,200 (16.69%) to QIB, 644,800 (12.52%) to NII, 1,504,000 (29.21%) to RII and 1,288,000 (25.02%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,288,000 (25.02%) |
| Market Maker Shares Offered | 852,800 (16.56%) |
| QIB Shares Offered | 859,200 (16.69%) |
| NII (HNI) Shares Offered | 644,800 (12.52%) |
| Retail Shares Offered | 1,504,000 (29.21%) |
| Total Shares Offered | 5,148,800 (100%) |
Zenith Drugs IPO raises Rs 10.18 crore from anchor investors. Zenith Drugs IPO Anchor bid date is February 16, 2024. Zenith Drugs IPO Anchor Investors list
| Bid Date | February 16, 2024 |
| Shares Offered | 1,288,000 |
| Anchor Portion Size (In Cr.) | 10.18 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 24, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 23, 2024 |
Zenith Drugs IPO opens on February 19, 2024, and closes on February 22, 2024.
| 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 |
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹126,400 |
| Retail (Max) | 1 | 1600 | ₹126,400 |
| HNI (Min) | 2 | 3,200 | ₹252,800 |
| Lot Size Calculator | |||
The promoters of the company are Mr. Sandeep Bhardwaj, Mr. Bhupesh Soni and Mr. Ajay Singh Dassundi
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 69.98% |
Incorporated in 2000, Zenith Drugs Limited is a pharmaceutical company specialising in manufacturing and trading high-quality, affordable medicines, including generic drugs.
The company adheres to WHO-GMP guidelines and has received the ISO 9001:2015 certification from a respected EuroUK certification body, demonstrating its commitment to quality.
The product portfolio of the company includes
The Food & Drugs Administration has approved over 600 products, of which 325 are currently in production.
The company is in the process of setting up a new manufacturing facility in Village Muradpura, Depalpur, Indore, Madhya Pradesh.
The company supplies its products to countries such as Costa Rica in Central America and the Caribbean and Pacific regions, Malawi, Mauritius, Mozambique, Sudan, Tanzania, Bhutan , Cambodia in Southeast Asia, Tajikistan, Liberia, Sierra Leone, and Conakry.
Zenith Drugs Limited specializes in third-party manufacturing, also known as white label manufacturing, for esteemed pharmaceutical companies such as Ajanta Pharma, Bio Medical Laboratories, and Zest Pharma, among others.
There are currently 89 employees as of March 31, 2023 - 61 on payroll and 28 on contract.
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 | |||
The market capitalization of Zenith Drugs IPO is Rs 135.48 Cr.
| 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 |
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects
[Dilip Davda] 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 raise eyebrows and concern over its sustainability. Based on FY24 annualized super earnings, the issue appears fully priced. Well-informed investors may park moderate funds for the medium term rewards. Read detail review...
The Zenith Drugs IPO is subscribed 179.18 times on February 22, 2024 6:21:00 PM. The public issue subscribed 139.28 times in the retail category, 106.72 times in the QIB category, and 368.77 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 106.72 |
| NII | 368.77 |
| Retail | 139.28 |
| Total | 179.18 |
Total Application : 130,926 (139.28 times)
| Listing Date | February 27, 2024 |
| BSE Script Code | |
| NSE Symbol | ZENITHDRUG |
| ISIN | INE0QWN01013 |
| Final Issue Price | ₹79 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹79.00 |
| ₹110.00 |
| ₹104.50 |
| ₹114.50 |
| ₹105.15 |
Zenith Drugs Limited
K. No. 72 / 5, Village Muradpura
NA Depalpur,
Indore-453001
Phone: +91 8435501867
Email: info@zenithdrugs.com
Website: https://zenithdrugs.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Check our SME IPO Guide 
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.
The IPO opens on February 19, 2024, and closes on February 22, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Zenith Drugs IPO using UPI as a payment gateway. Zerodha customers can apply in Zenith Drugs IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Zenith Drugs IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Zenith Drugs IPO opens on February 19, 2024 and closes on February 22, 2024.
Zenith Drugs IPO lot size is 1600 Shares, and the minimum amount required is ₹126,400.
You can apply in Zenith Drugs IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Zenith Drugs IPO will be done on Friday, February 23, 2024, and the allotted shares will be credited to your demat account by Monday, February 26, 2024. Check the Zenith Drugs IPO allotment status.
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