Zenith Drugs IPO description – Founded in 2000, Zenith Drugs operates as a pharmaceutical manufacturing and trading entity situated in Indore. With a focus on producing superior-quality and cost-effective medicines, the company specializes in both branded and generic pharmaceuticals.
The company is WHO-GMP compliant and holds ISO 9001:2015 certification from a respected EuroUK body, showcasing its commitment to quality. Presently, the company holds FDA approval for over 600 products from the Food and Drug Administration. Among these, 325 products are manufactured regularly.
Zenith provides a diverse range of formulations available in various forms, including:
- ORS Powder
- Liquid Orals
- Ointments
- Liquid Externals
- Capsules
The company distributes its products to various countries, including Costa Rica in Central America, the Caribbean and Pacific regions, Malawi, Mauritius, Mozambique, Sudan, Tanzania, Bhutan, Cambodia in Southeast Asia, Tajikistan in the CIS region, Liberia, Sierra Leone, and Conakry in FWA.
Zenith participates in third-party manufacturing, commonly referred to as white-label manufacturing, for reputable pharmaceutical companies like Ajanta Pharma, Bio-Medical Laboratories, Zest Pharma, and many others. As of 31 March 2023, the company employs a total of 89 individuals, with 61 on a payroll basis and 28 employees on a contract basis.
Promoters of Zenith Drugs – Mr. Sandeep Bhardwaj, Mr. Bhupesh Soni, and Mr. Ajay Singh Dassundi
Table of Contents
Zenith Drugs IPO Details
| Zenith Drugs IPO Dates | 19 – 22 February 2024 |
| Zenith Drugs Issue Price | INR 75 – 79 per share |
| Fresh issue | 5,148,800 shares (INR 38.62 – 40.68 crore) |
| Offer For Sale | NIL |
| Total IPO size | 5,148,800 shares (INR 38.62 – 40.68 crore) |
| Minimum bid (lot size) | 1,600 shares (INR 126,400) |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| Listing On | NSE SME |
Zenith Drugs Financial Performance
| Â | FY 2021** | FY 2022 | FY 2023 | H1 FY 2024 |
| Revenue | 73.40 | 91.66 | 114.52 | 69.41 |
| Expenses | 68.91 | 88.26 | 108.49 | 61.87 |
| Net income | 3.03 | 3.13 | 5.15 | 5.39 |
** Standalone data
Zenith Drugs Offer News
- Zenith Drugs RHP
- Zenith Drugs Draft Prospectus
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
Zenith Drugs Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 2.52 | 2.62 | 4.29 |
| PE ratio | – | – | 17.48 – 18.41 |
| RONW (%) | 33.84 | 25.96 | 29.88 |
| NAV | 7.46 | 10.08 | 14.37 |
| ROCE (%) | 36.52 | 30.08 | 37.29 |
| EBITDA (%) | 9.57 | 7.45 | 8.45 |
| Debt/Equity | 1.73 | 1.56 | 1.51 |
Zenith Drugs IPO GMP Today
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 26 February 2024 | 40 | – | 45,000 |
| 24 February 2024 | 25 | – | 25,000 |
| 23 February 2024 | 25 | – | 28,000 |
| 22 February 2024 | 22 | – | 25,000 |
| 21 February 2024 | 17 | – | 20,000 |
| 20 February 2024 | 15 | – | 15,000 |
| 19 February 2024 | 15 | – | 15,000 |
| 17 February 2024 | 8 | – | 10,000 |
| 16 February 2024 | 5 | – | – |
Zenith Drugs IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 859,200 | 644,800 | 1,504,000 | 3,008,000 |
| 22 Feb 2024 | 106.72 | 369.94 | 138.57 | 179.07 |
| 21 Feb 2024 | 3.54 | 9.25 | 18.99 | 12.49 |
| 20 Feb 2024 | 3.53 | 3.79 | 9.22 | 6.43 |
| 19 Feb 2024 | 0.00 | 0.95 | 3.28 | 1.84 |
The market maker reservation portion of 8,52,800 shares is not included in the above calculations.
Zenith Drugs IPO Allotment Status
Zenith Drugs IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.
Zenith Drugs IPO Dates & Listing Performance
| IPO Opening Date | 19 February 2024 |
| IPO Closing Date | 22 February 2024 |
| Finalization of Basis of Allotment | 23 February 2024 |
| Initiation of refunds | 26 February 2024 |
| Transfer of shares to demat accounts | 26 February 2024 |
| IPO Listing Date | 27 February 2024 |
| Opening Price on NSE SME | INR 110 per share (up 39.24) |
| Closing Price on NSE SME | INR 105.15 per share (up 33.10) |
Zenith Drugs Offer Lead Manager
GRETEX CORPORATE SERVICES LIMITED
Office No. 13, 1st Floor,
New Bansilal Building, Raja Bahadur Mansion,
9-15, Homi Modi Street, Fort, Mumbai– 400001
Phone: +91 96532 49863
Email:Â [email protected]
Website:Â www.gretexcorporate.com
Zenith Drugs Offer Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone:Â +91 22 6263 8200
Email:Â Â [email protected]
Website:Â www.bigshareonline.com
Zenith Drugs Contact Details
ZENITH DRUGS LIMITED
K. No. 72 / 5, Village Muradpura, NA,
Depalpur, Indore-453001, Madhya Pradesh
Phone: +91 8435501867
E-mail: [email protected]
Website: www.zenithdrugs.com
IPO FAQs
What is the Zenith Drugs offer size?
Zenith Drugs’ offer size is INR 38.62 – 40.68 crores.
What is the Zenith Drugs offer price band?
Zenith Drugs’ public offer price is INR 75 – 79 per share.
What is the lot size of the Zenith Drugs IPO?
Zenith Drugs offer lot size is 1,600 shares.
What is Zenith Drugs IPO GMP today?
Zenith Drugs IPO GMP today is INR 40 per share.
What is the Zenith Drugs kostak rate today?
Zenith Drugs kostak rate today is NA per application.
What is Zenith Drugs Subject to the Sauda rate today?
Zenith Drugs is Subject to the Sauda rate today is INR 45,000 per application.
