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Zenith Drugs Limited IPO (Zenith Drugs IPO) Detail

February 19, 2024 - February 22, 2024

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.

Zenith Drugs IPO Details

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 Size5,148,800 shares
(aggregating up to ₹40.68 Cr)
Fresh Issue5,148,800 shares
(aggregating up to ₹40.68 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Share holding pre issue12,000,000
Share holding post issue17,148,800
Market Maker portion852,800 shares
Gretex Share Broking

Zenith Drugs IPO Reservation

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 Offered1,288,000 (25.02%)
Market Maker Shares Offered852,800 (16.56%)
QIB Shares Offered859,200 (16.69%)
NII (HNI) Shares Offered644,800 (12.52%)
Retail Shares Offered1,504,000 (29.21%)
Total Shares Offered5,148,800 (100%)

Zenith Drugs IPO Anchor Investors Details

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 Timeline (Tentative Schedule)

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

Zenith Drugs IPO Lot Size

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

Zenith Drugs IPO Promoter Holding

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%

About Zenith Drugs Limited

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 

  • ORS Powder;
  • Liquid Orals;
  • Ointments;
  • Liquid Externals; and
  • Capsules

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 Financial Information (Restated Consolidated)

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 Ended30 Sep 202331 Mar 202331 Mar 2022
Assets11,249.049,793.836,858.47
Revenue6,948.4311,569.659,266.63
Profit After Tax539.38515.29312.86
Net Worth2,264.961,724.421,209.09
Reserves and Surplus1,064.961,684.421,169.09
Total Borrowing2,902.812,605.031,880.86
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Zenith Drugs IPO is Rs 135.48 Cr.

KPI Values
ROE35.13%
ROCE37.29%
Debt/Equity1.51
RoNW29.88%
P/BV5.5
Pre IPO Post IPO
EPS (Rs) 4.296.29
P/E (x) 18.412.56
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.

Objects of the Issue (Zenith Drugs IPO Objectives)

The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects

  • Purchase of Machinery & Equipments for Setting up New Unit
  • Existing Manufacturing Block Upgradation
  • Working Capital Requirements
  • General Corporate Purposes.

Zenith Drugs IPO Review (May apply)

[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...


Zenith Drugs IPO Subscription Status (Bidding Detail)

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)

CategorySubscription (times)
QIB106.72
NII368.77
Retail139.28
Total179.18

Total Application : 130,926 (139.28 times)

Zenith Drugs IPO Prospectus

Zenith Drugs IPO Rating

4
4.3
Rating:Rated 4.3 stars
Vote Here ...

Zenith Drugs IPO Listing Details

Listing Date February 27, 2024
BSE Script Code
NSE Symbol ZENITHDRUG
ISIN INE0QWN01013
Final Issue Price ₹79 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
NSE SME
₹79.00
₹110.00
₹104.50
₹114.50
₹105.15

Check IPO Performance…

Zenith Drugs Limited Contact Details

Zenith Drugs Limited
K. No. 72 / 5, Village Muradpura
NA Depalpur,
Indore-453001
Phone: +91 8435501867
Email: info@zenithdrugs.com
Website: https://zenithdrugs.com/

Zenith Drugs IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html

Zenith Drugs IPO - Buy or Not

Zenith Drugs IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 0
Members 2 0 1

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Zenith Drugs IPO FAQs

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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Zenith Drugs IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

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.

The Zenith Drugs IPO listing date is on February 27, 2024.
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Zenith Drugs IPO Message Board

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255 Comments

112. Mr. Agrawal |   Link |  Bookmark |March 14, 2024 1:52:20 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
At this price 1 lot is around 1 lakh rs only .. while HNIs buying SMEs where 1 lot is of 8-10Lakhs ... Koi single hni 70-80 lakh ka bhi order lgaye na toh 20% in a day kama sakta hey .. but nhi pta ni kya majak chal rha yha...
112.1. Vikajay |   Link |  Bookmark |March 14, 2024 2:16:27 PM
Bhai, pehle Multiplier ne hamla kiya uske baad Yuga ne. Kal yuga exit ho chuka hai. Unke pyaade abhi bhav kam karke baithe hain.
Bear cartel will not leave it easily.
Low price par sell and buy karenge khud hi.
Listing price tabhi aaygi, Jab iska result aayega.
Agar genuine company hai then no fear. Generic drug ki company hai. Koi flashy news about tender, new drug innovation etc nahi aane wala.
If you belief it's fake company or need money then exit today. Other wise keep patience for 2 months.
Keeping and observing it will give you lessons of life time. Profit or loss hoga iska pata nahi.
111. Mr. Agrawal |   Link |  Bookmark |March 14, 2024 11:57:51 AM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
Log sell orders remove kr denge toh 20% UC lag sakta hai aaj .. kripa kijiye Prabhu mai toh sab loss mai bhi bech dunga lekin only at UC not before that
110. Mr. Agrawal |   Link |  Bookmark |March 13, 2024 12:53:55 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
Much below issue price of 79 now.... Isme toh anchors ko bhi loss hoga bhai .. gazab ka fall hai .. unprecedented...
110.1. IPONEED |   Link |  Bookmark |March 13, 2024 3:18:41 PM
IPO Guru IPO Guru (2200+ Posts, 1100+ Likes)
AB ANCHORS HI BCHA SKTE H APUN LOGO KO
109. Saurabh Bhavsar |   Link |  Bookmark |March 13, 2024 1:11:29 PM
Sir, Zenit Drugs ko Hold Kare ke Sell? Ab to Loss me chal raha he ?
108. IPO HJK |   Link |  Bookmark |March 6, 2024 5:34:18 PM
Dear Well-known members of CG forum,
Kindly put light on Ahead path of zenith.
Should we exit or hold?
Holding 1 lot @105.
108.1. Mr. Agrawal |   Link |  Bookmark |March 7, 2024 10:17:04 AM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
I won't suggest anything .. but at this price and valuation ... I am holding my Lot and many are willingly adding at LCs everyday ! Hope this would be a turnaround candidate from here @JSK✨ Sir what do you think ?
107. JSK✨ |   Link |  Bookmark |March 2, 2024 9:58:10 AM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
Finally UC! Just apply your mind and tell whether its strong UC or regular UC.
107.5. Mr. Agrawal |   Link |  Bookmark |March 12, 2024 11:54:57 AM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
@JSK✨ Are you still holding or sold ???
107.6. ओम साई राम |   Link |  Bookmark |March 12, 2024 5:40:21 PM
Hold 9600 share Avg. Price 110.45
106. Dharmendra Adroja |   Link |  Bookmark |March 1, 2024 9:57:53 PM
I think 85 ke niche Jane ke bad hi up movement ayega.
106.1. ADP |   Link |  Bookmark |March 1, 2024 11:41:13 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
Iski movment Chavda Infra jaise hai ek bar to Retailer ko darayega be patience
105. Vikajay |   Link |  Bookmark |March 1, 2024 1:22:09 PM
As previous said, it will test everyone's patience.
105.1. ओम साई राम |   Link |  Bookmark |March 1, 2024 1:39:15 PM
मुझे लगता है 91 के नीचे नही जायेगा देखते है आगे क्या होता है.
Be patience.
104. ManishDwiv |   Link |  Bookmark |February 29, 2024 9:52:28 PM
Top Contributor Top Contributor (600+ Posts, 200+ Likes)
*ZENITHDRUG BULK TODAY*

      MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED      SELL.       1,52,000.       94.90      -

      YUGA STOCKS AND COMMODITIES PRIVATE LIMITED .       BUY       3,00,800.       94.91
LC may continuee!!
103. CL BASSI |   Link |  Bookmark |February 29, 2024 8:40:55 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
Tomorrow upper circuit after
Today bulk deal if operater not play game
103.1. Kapz |   Link |  Bookmark |February 29, 2024 9:25:03 PM
IPO Mentor IPO Mentor (800+ Posts, 400 Likes)
Multiplier exited today in loss, and Yuga has entered. Hope it doesn’t become.. aasmaan se gire khajoor pe atke 🤦🏻‍♂️
102. CL BASSI |   Link |  Bookmark |February 28, 2024 8:06:56 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED

Jb hold nhi kr sakta to buy kyu krta h ye company

Today sell 150000 share and yesterday but 300000 share

Today LC ka karan hi ye h

Third class company h ye Multiplier share
102.1. GODFATHER |   Link |  Bookmark |February 28, 2024 9:25:06 PM
What could be the reason?
102.2. CL BASSI |   Link |  Bookmark |February 28, 2024 10:04:58 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
Jb bhi multiplier share kisi stock main bulk deal krta to wo share LC hi lagta h next day, hold bhi nhi krta share
101. Small Investor |   Link |  Bookmark |February 28, 2024 2:03:37 PM
IPO Guru IPO Guru (2200+ Posts, 1100+ Likes)
I think LC will break today
101.2. Netadmin |   Link |  Bookmark |February 28, 2024 4:15:34 PM
@JSK✨  - Based on your analysis what is your short term view for this counter ? IM holding 1 allotted lot here.
101.3. JSK✨ |   Link |  Bookmark |February 28, 2024 5:02:11 PM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
@Netadmin 

This is my personal view on SME recently listed stock like Zenith (short term):
- LC might be followed for 2-3 sessions for good stock due to negative sentiments
- Volatility doesn't allow to hit UC immediately due to panic
- Market like today doesn't allow to stable/hit UC immediately due to initial negative sentiments
- For long term or after stability, this stock will move ahead and can do UC.
- Financials are way good so nothing bad to hold atleast till quarterly result.

These are my views in general for Zenith and might be wrong! I bought post listing but it didn't behave like UC as we thought but it happens sometime!
100. Mr. Agrawal |   Link |  Bookmark |February 28, 2024 10:10:59 AM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
Esconet & Deem roll circuits opened... Zenith also 1.3 Lakh shares traded at LC ... It can go up today itself
Anyone who bought today or yesterday at LC???
100.3. Mr. Agrawal |   Link |  Bookmark |March 1, 2024 12:16:27 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
@Small Investor Did you buy ?? Kya lagta hai iska future ...??
100.4. Small Investor |   Link |  Bookmark |March 1, 2024 1:42:42 PM
IPO Guru IPO Guru (2200+ Posts, 1100+ Likes)
ek bar upmove aa jaye phir buy krne ka mn bna rha hu philhal no buying
99. Vikajay |   Link |  Bookmark |February 28, 2024 8:44:56 AM
In the long run, it will do good and after 2-3 years, these 5% circuits appear as small wave in big ocean.
In short term volatility will continue and it will test anyone's patience. (Have one lot and my view may be biased).
General opinion: - My opinion is that allottees (in any script) with only short term view (target) should sell on listing if there is adequate gain (>20%.)
This script should give exit opportunity today also, if anyone want to exit.
98. GODFATHER |   Link |  Bookmark |February 27, 2024 11:30:41 PM
This issue has reminded me of Beta Drugs. The issue price and lot size are quite similar. Long back in 2017 I have received allotment of 2 lots of Beta Drugs in my two accounts. That time the circuits were at 20% from issue price and I have exited one lot at upper circuit on first day and held the second lot for some time and exited somewhere around 200.
98.1. GODFATHER |   Link |  Bookmark |February 27, 2024 11:39:59 PM
Started applying SME IPO again for last few months and after a very long time got allotment of one lot in this. Thinking of holding this as Beta Drugs is around 1400 now.
97. Mr. Agrawal |   Link |  Bookmark |February 27, 2024 11:00:03 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
Lower Circuit se kisika fayda nahi hota hai...jisne aaj 3 crore rs ke shares buy kre woh thodi chahega ki roj 5 % ka nuksan ho.. yeh jo log bulk deals se darte hai ..
woh Darr tab ke liye hota hai jab bulk deals walo ne atleast 10-15% kma liya ho .. toh yeh ekdum bech kar bahar ho jate hai.

Abhi toh I guess inko aur support dena chahiye price ko to make sure they don't loose money on this trade .!
And This is true for all SMEs ..it's just that they should't run out of money(allocated to this trade) to absorb further selling pressure.
Hope for a Interesting Journey ahead !
96. sahab |   Link |  Bookmark |February 27, 2024 8:09:51 AM
IPO Guru IPO Guru (1100+ Posts, 600+ Likes)
p/e is low only 12.60 as compare to listing peer p/e 50 sigachi
if i find under 150 i will buy one lot
96.7. sahab |   Link |  Bookmark |February 27, 2024 9:59:36 PM
IPO Guru IPO Guru (1100+ Posts, 600+ Likes)
Sahi baat hai
96.8. Mr. Agrawal |   Link |  Bookmark |March 1, 2024 12:19:01 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
@sahab  91 par aa gya yeh toh .. abhi kya PE hai iska .. and and target or SL here ??
95. ManishDwiv |   Link |  Bookmark |February 27, 2024 6:36:25 PM
Top Contributor Top Contributor (600+ Posts, 200+ Likes)
*ZENITH. DRUG       BULK TODAY*

      MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED      BUY.       3,04,000       106.01

LC should continuee.
95.5. Small Investor |   Link |  Bookmark |February 29, 2024 11:44:11 AM
IPO Guru IPO Guru (2200+ Posts, 1100+ Likes)
gyi bhensh pani m ab to
95.6. Mr. Agrawal |   Link |  Bookmark |February 29, 2024 12:50:19 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
Aaj Rudra gas ka movement dekha ??? Kisine 10% lower Circuit se utha kar sidha 10% Upper circuit ...16 lakh shares buy Kiye... 80,000 profit in a day for those holding ...
I don't understand yha bhi 1 min mai LC ki 3-4 lakh quantity daily koi buy kar leta hai but phir pappu jese whi hilta rehta hai LC par .. bhai roj ki jagah ek sath buy krlo aur UC lagne do 🙏🙏🙏🙏
94. VARUN AGGARWAL |   Link |  Bookmark |February 27, 2024 8:13:50 PM
Gretex is market maker

General market maker portion size is around 5%

In this it is 16.56/ 3 x to normal size

Gretex, anchor investor, qib still in game

It will move up
93. VARUN AGGARWAL |   Link |  Bookmark |February 27, 2024 8:09:26 PM
No reason

Bas bakwas Marni hai