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Zenith Drugs Limited IPO Detail

Zenith Drugs Limited IPO Detail

Incorporated in 2000, Zenith Drugs Limited is a pharmaceutical company specialising in manufacturing and trading high-quality, affordable medicines, including generic drugs.

The company adheres to WHO-GMP guidelines and has received the ISO 9001:2015 certification from a respected EuroUK certification body, demonstrating its commitment to quality.

The product portfolio of the company includes 

  • ORS Powder;
  • Liquid Orals;
  • Ointments;
  • Liquid Externals; and
  • Capsules

The Food & Drugs Administration has approved over 600 products, of which 325 are currently in production.

The company is in the process of setting up a new manufacturing facility in Village Muradpura, Depalpur, Indore, Madhya Pradesh.

The company supplies its products to countries such as Costa Rica in Central America and the Caribbean and Pacific regions, Malawi, Mauritius, Mozambique, Sudan, Tanzania, Bhutan , Cambodia in Southeast Asia, Tajikistan, Liberia, Sierra Leone, and Conakry.

Zenith Drugs Limited specializes in third-party manufacturing, also known as white label manufacturing, for esteemed pharmaceutical companies such as Ajanta Pharma, Bio Medical Laboratories, and Zest Pharma, among others.

There are currently 89 employees as of March 31, 2023 - 61 on payroll and 28 on contract.

Company Promoters

Mr. Sandeep Bhardwaj, Mr. Bhupesh Soni and Mr. Ajay Singh Dassundi

IPO Details

IPO Opening DateFeb 19, 2024
IPO Closing DateFeb 22, 2024
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹75 - 79 per equity share
Market Lot1600 Shares
Min Order Quantity1600 Shares
Listing AtNSE SME
Issue Size₹40.68 Cr
Fresh Issue₹40.68 Cr
Offer for Sale-
Retail Portion -

IPO Subscription (Bidding Detail)

AS On QIB SHNI BHNI NII RII TOTAL
Day 1 0.00x 0.00x 0.00x 0.99x 3.42x 1.92x
Day 2 3.53x 0.00x 0.00x 2.50x 9.41x 6.25x
Day 3 3.54x 0.00x 0.00x 7.98x 19.42x 12.43x
Day 4 106.72x 0.00x 0.00x 368.77x 139.28x 179.18x

IPO Tentative Timetable

The Zenith Drugs Limited IPO open date is Feb 19, 2024, and the close date is Feb 22, 2024. The issue may list on Feb 27, 2024.

IPO Open DateFeb 19, 2024
IPO Close DateFeb 22, 2024
Basis of Allotment DateFeb 23, 2024
Initiation of RefundsFeb 26, 2024
Credit of Shares to Demat AccountFeb 26, 2024
IPO Listing DateFeb 27, 2024

IPO Lot Size

The Zenith Drugs Limited IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹126400).

ApplicationLotsSharesAmount (Cut-off)
Minimum11600₹126400
Maximum11600₹126400

IPO Promoter Holding

Pre Issue Share Holding100.00%
Post Issue Share Holding69.98%

Company Financials:

For the year/period ended (₹ in Lakhs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-22 6858.47 9266.63 312.86
31-Mar-23 9793.83 11569.65 515.29
30-Sep-22 11249.04 6948.43 539.38

Objects of the Issue:

The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects

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

Zenith Drugs Limited IPO Registrar:

Bigshare Services Pvt Ltd

Zenith Drugs Limited IPO Lead Manager(s):

Gretex Corporate Services Limited

Company Contact Information:

Zenith Drugs Limited

K. No. 72 / 5, Village Muradpura

NA Depalpur,

Indore-453001