Senores Pharma files IPO with Sebi, aims to raise Rs 500 cr via fresh issue

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Senores Pharma files IPO with Sebi, aims to raise Rs 500 cr via fresh issue - Business Standard

Quick Summary:

The Ahmedabad-based company's IPO is a combination of fresh issuance of shares worth Rs 500 crore and an offer for sale (OFS) of up to 27 lakh equity shares by promoters and other selling shareholders, according to the draft red herring prospectus (DRHP).

Senores Pharmaceuticals Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).

The pharma company may consider raising up to Rs 100 crore as pre-IPO placement.