Zenith Drugs Limited’s Rs. 40.67 crore public issue opens for subscription from February 19th , 2024

Press ReleaseZenith Drugs Limited’s Rs. 40.67 crore public issue opens for subscription from...

Date:

New Delhi – Company is offering 5,14,88,00 Equity shares (Fresh Issue) of Rs. 10 Face value at an issue price range of Rs. 75-79 per share on NSE Emerge, SME Platform of NSE.

Zenith Drugs IPO Details:

● Public issue opens for subscription from Monday 19th February, 2024 and closes on Thursday 22nd February , 2024
● Minimum lot size for application is 1600 shares per lot.
● Funds raised through the issue will be used for capital expenditure in its facilities, working capital requirements and general corporate purposes and Issue Expenses.
● For the financial year ended 31 March FY 2023, company reported Revenue From Operations of Rs. 114.52 crore and Net Profit of Rs. 5.15 crore
● Gretex Corporate Services Ltd. is the Book Running Lead Manager to the issue
.

Zenith Drugs Limited incorporated in 2000 and is a leading pharmaceutical company specialising in manufacturing and trading of high-quality, affordable medicines, including generic drugs. The company has a dynamic product portfolio which comprises of ORS powder and liquid orals, ointments, liquid externals, and capsules and tablets.

The company has strong supply chain and distribution network through which it supplies its products to 18+ states domestically and exports to Costa Rica, Yemen, Myanmar, Cambodia and many other prominent countries with focus on tapping the export markets of West Africa, East Africa, South East Asia and Latin American Countries which offers huge Export opportunities.

With company’s focus on stringent quality norms being reflected through its compliance to major regulatory bodies and certifications like WHO GMP, LMHRA certification, GLP certification making it a preferred choice for industry leading Pharmaceutical brands like Ajanta Pharma, Micro Labs, May & Bakers, Kopran etc.
The strength of the company is being truly reflected through its consistent financial performance over the years.

Company reported Revenue from operations on consolidated basis of Rs. 91.66 crores in FY2021-22 which rose to Rs. 114.52 crores in FY2022-23 with Y-O-Y growth of 25% and its Profit after tax at Rs. 3.13 crores in FY2021-22 which further showed significant growth to Rs.5.15 crores registering Y-O-Y growth of 65%.

For the Half year ended September 2023 company registered Consolidated Revenue from operations of Rs. 69.41 crores and Profit After Tax of Rs. 5.40 crores with positive improvement in margins.

Key Highlights-

● Excelling in manufacturing tailor-made products
● Experienced and dedicated senior team across key functions
● Long-standing relationship with our existing clientele
● Fosters a culture of innovation, driven by continuous customer interactions, market surveys, and observations to enhance existing products, processes & packaging

The company has allocated 35 per cent of the net IPO offer to Retail Investors, not more than 50 per cent for Qualified Institutional Buyers (QIBs) and not more than 15 per cent for Non-Institutional Investors.

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 Ltd. The promoters of the company are Sandeep Bhardwaj, Bhupesh Soni and Ajay Singh Dassundi.

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