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125 rupees profit on each share! Are you investing in this IPO opening tomorrow?

New Delhi. If you also invest in IPO, there is good news for you. The initial public offering (IPO) of Ahmedabad-based pharmaceutical company Signories Pharmaceuticals will open tomorrow, Friday. Retail investors will be able to bid for shares in the IPO until Tuesday, December 24. Even before the IPO opens, Sinors IPO shares are making waves in the gray market. The shares are trading at a premium of Rs 125 in the gray market. This means that the gray market is indicating the proceeds from this IPO.

The Sinores Pharmaceuticals IPO price band has been set at ₹372-₹391. There are 38 shares in one lot of IPO. Investors can apply for a minimum of 38 equity shares and multiples thereof. Thus, according to the upper price band, one has to spend at least Rs. 14,858. As of September 30, 2024, the company has launched 55 products in key therapeutic areas such as antibiotics and antifungal treatments. In the financial year 2023-24, the company earned a net profit of ₹32.71 crore and a revenue of ₹217.34 crore.

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IPO Details
The Sinores Pharmaceuticals IPO will see the issuance of new shares worth ₹500 crore and sale of 2.1 lakh equity shares through an offer for sale (OFS) by promoters and existing shareholders. The company aims to raise ₹582.11 crore at the upper end of the price band. The bidding process for Langar Kitab has started today i.e. 19th December. The proceeds from the IPO will be used for investments in the company’s subsidiaries, repayment of certain debt, meeting working capital requirements, acquisitions and other strategic initiatives.

Reservation for investors
75% of this IPO is reserved for Qualified Institutional Bidders (QIBs). 15% of the IPO is earmarked for non-institutional investors (NIIs) and 10% for retail investors. The IPO’s book-running lead managers are Aquirus Capital, Ambit and Nuvama Wealth Management, while Link Intime India is the registrar. The company’s shares will be listed on BSE and NSE on December 30.

(Disclaimer: Investing in IPOs is subject to market risks. If you wish to invest in any of them, consult a certified investment advisor first. News18 shall not be liable for any profit or loss you may incur. shall not be liable for damages.)

Tags: business news, IPO, Money making tips, Stock market, Stock market

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