Zenith Drug IPO: Verify Subscription Status, GMP, and Additional Information

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The much anticipated Zenith Drugs IPO has attracted a lot of interest, with prospective investors finding that the subscription status, GMP (Grey Market Premium), and other information are important. This in-depth piece explores the important facets of Zenith Drug IPO and provides insightful analysis and insightful data.

Zenith Drugs IPO

Zenith Drug IPO

Zenith Drug IPO: Subscription Status

On the first day of bidding for the SME IPO, which started on February 19, there was a resounding reaction. The offering got 55,47,200 shares against the 51,48,800 shares that were offered, with 1.08 subscriptions. Notably, 49,32,800 applications were submitted for the retail category versus the 15,04,000 that was provided, indicating strong interest. In contrast to the 6,44,800 available applications, NII only got 6,14,400 applications for the QIB area.

Anchor Investors Raised ₹40.68 Crore for Zenith Drug IPO

On February 16, Zenith Drugs successfully funded ₹40.68 crores via the issuance of 12,88,000 shares at a price of ₹69 each, from six anchor investors. Anchor investors’ strong emotion and faith in the pharmaceutical firm is shown by their early investment.

Quality Medicines is the Main Aim of Zenith Drug Limited

Zenith Drugs Limited is a company that focuses in producing and selling reasonably priced, high-quality medications, including generic medications. The company’s remarkable 64.7% increase in profit after tax (PAT) and 24.85% growth in sales during the fiscal year ending March 31, 2023, demonstrate its dedication to excellence.

Details about Zenith Drug IPO

The Zenith Drug IPO is a book-built offering valued at ₹40.68 crores, which includes a newly issued 51.49 lakh shares. With a price range of ₹75 to ₹79 per share, investors have some options. The minimum investment required for retail investors is ₹126,400, and they may bid for a minimum of 1600 shares. The minimum lot size for High Net Worth Individuals (HNI) is two lots, or 3,200 shares, for a total of ₹252,800.

Breakdown of Allocation

9,009,600 shares are available in the Zenith Drugs IPO, of which 859,200 (9.54%) are allotted to QIB, 644,800 (7.16%) to NII, 1,504,000 (16.69%) to RII, and 5,148,800 (57.15%) to Anchor investors. Sandeep Bhardwaj, Bhupesh Soni, and Ajay Singh Dassundi are the company’s promoters.

Making Use of Proceeds

The net proceeds of the fresh issue will be used by Zenith Drugs for a number of objectives, such as buying machinery and equipment to establish a new unit, modernizing current production blocks, covering working capital needs, and attending to general corporate needs.

Dates of Allocation and Listing

On Friday, February 23, 2024, the allocation for the Zenith Drug IPO is anticipated to be completed. The IPO will thereafter go on sale on NSE SME, with a provisional listing date of Tuesday, February 27, 2024. Gretex Corporate Services Limited, the book running lead manager, is overseeing the whole process, while Bigshare Services Pvt Ltd is the issue registrar. Gretex Share Broking is the market maker for the Zenith Drugs IPO.

Today’s IPO GMP for Zenith Drug IPO

Investorgain reports that as of February 19, Zenith Drugs’ Grey Market Premium (GMP) is ₹14. This implies that there is a bullish feeling in the market since the shares are trading at a premium of ₹14 in the grey market. With a significant 17.72% rise from the IPO price of ₹79, the predicted listing price of the SME IPO is expected to be ₹93 per share.

Answers to Common Questions (FAQs)

What is the Zenith Drug IPO subscription status?

On the first day of the auction, the Zenith Drugs IPO was subscribed 1.08 times, resulting in 55,47,200 shares being obtained against the offered 51,48,800 shares.

In the Zenith Drug IPO, how many shares are being offered?

9,009,600 shares are available in the Zenith Drug IPO, with portions allotted to QIB, NII, RII, and Anchor investors, among other categories.

What is the Zenith Drug IPO price range?

Investors will have a choice of prices to choose from for their bids since the SME IPO price band is established at ₹75 to ₹79 per share.

When is the Zenith Drug IPO allotment anticipated?

The finalization of the allocation for the Zenith Drug IPO is scheduled for Friday, February 23, 2024.

What is the Zenith Drugs IPO’s Grey Market Premium (GMP)?

The Grey Market Premium (GMP) for Zenith Drug as of February 19 is ₹14, suggesting a favorable attitude in the market.

When will Zenith Drug IPO go public?

Tentatively, Tuesday, February 27, 2024 has been selected as the listing date for Zenith Drug IPO on NSE SME.

In summary

Both anchor investors and retail investors have shown a considerable level of interest in Zenith Drug IPO. The company’s prospects are bright because of its dedication to producing high-quality medications and the good feedback from anchor investors. In order to make well-informed judgments in this dynamic market, prospective investors are recommended to be updated about the allotment status, GMP, and other changes as the IPO moves forward.

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1 thought on “Zenith Drug IPO: Verify Subscription Status, GMP, and Additional Information”

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