Zenith Drugs IPO

Zenith Drugs IPO will open for subscription from 19 February 2024. The company aims for an issue size of ₹40.68 Cr through this IPO.

Company Overview

Full nameZenith Drugs Limited
IndustryPharmaceutical & Drugs
Company Websitehttps://www.zenithdrugs.com/

About Company

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.

The Objectives of the Issue

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

Zenith Drugs IPO Timetable

IPO Opening date19 February 2024
IPO Closing22 February 2024
Basis of Allotment23 February 2024
Initiation Refund26 February 2024
Credit to Demat Account26 February 2024
Listing Date27 February 2024
(Cut-off time for UPI mandate confirmation – 5 PM on February 22, 2024)

Zenith Drugs IPO details

Issue typeBook Built Issue IPO
IPO issue size₹40.68 Cr – 5,148,800 shares
Fresh Issue₹40.68 Cr – 5,148,800 shares
Offer for saleNil
Face value₹10 per share
Price Band ₹75 to ₹79 per share
Lot size1600 Shares
Market Maker portion852,800 shares
Shareholding pre-issue12,000,000
Shareholding post-issue17,148,800
Listing ExchangeNSE SME

Zenith Drugs IPO Lot Size

Retail (Min)11600₹126,400
Retail (Max)11600₹126,400
HNI (Min)23,200₹252,800

Zenith Drugs IPO Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

Zenith Drugs Financial Performance

 FY 2021**FY 2022FY 2023H1 FY 2024
Net income3.
(Amount in ₹ Crores)

Zenith Drugs Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio17.48 – 18.41
RONW (%)33.8425.9629.88
ROCE (%)36.5230.0837.29
EBITDA (%)9.577.458.45

Company Promoters

  • Mr. Sandeep Bhardwaj
  • Mr. Bhupesh Soni
  • Mr. Ajay Singh Dassundi

Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding69.98%

Zenith Drugs IPO Lead Manager(s)

Office No. 13, 1st Floor,
New Bansilal Building, Raja Bahadur Mansion,
9-15, Homi Modi Street, Fort, Mumbai– 400001
Phone: +91 96532 49863
Email: info@gretexgroup.com
Website: www.gretexcorporate.com

Zenith Drugs Registrar

S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email:  ipo@bigshareonline.com
Website: www.bigshareonline.com

Zenith Drugs Contact Details

K. No. 72 / 5, Village Muradpura, NA,
Depalpur, Indore-453001, Madhya Pradesh
Phone: +91 8435501867
E-mail: info@zenithdrugs.com
Website: www.zenithdrugs.com

Zenith Drugs IPO Allotment Status

Zenith Drugs IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.

Final thoughts

Zenith Drugs IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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