Senores Pharmaceuticals Limited IPO

Senores Pharmaceuticals Limited, established in December 2017, is a global pharmaceutical company specializing in the development and manufacturing of complex generic medications. The company focuses on creating affordable, high-quality pharmaceutical products certified by global food and drug authorities, aiming to enhance healthcare accessibility worldwide.

Manufacturing and Facilities:

Senores operates three manufacturing facilities, including a USFDA-approved oral solid dosage plant in Atlanta, USA, and an API & Intermediates manufacturing plant. These facilities adhere to stringent regulatory standards, ensuring the production of high-quality pharmaceutical products.

Product Portfolio:

The company’s product selection strategy targets the development of specialty, niche, and complex pharmaceuticals. By September 30, 2024, Senores had introduced 55 products focusing on essential therapeutic areas, such as antibiotics and antifungal therapies. They have formed collaborations with distributors and healthcare facilities across multiple regions in India.

Global Presence:

Senores Pharmaceuticals has a significant global footprint, delivering high-quality complex generics to 49 countries. Their commitment to accessibility ensures that their products reach diverse markets, fulfilling various medical needs.

Financial Performance:

The company has demonstrated strong financial growth, with an EBITDA/PAT CAGR of 362%/475% over FY22-24 and a Return on Equity (ROE) of 26% for FY24. Additionally, Senores achieved positive net operating cash flows of ₹64 million in H1FY25.

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Company Financials:

Company Promoters:

The promoters of the company are Swapnil Jatinbhai Shah and Ashokkumar Vijaysinh Barot.

Objects of this Issue:

• Investment in one of the Subsidiaries, Havix Group, Inc. d/b/aAavis Pharmaceuticals(“Havix”), to fund capital expenditure requirements for setting up a manufacturing facility for the production of sterile injections in the Atlanta Facility.
• Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company.
• Investment in the Subsidiary, namely, Havix, for re-payment in whole or part of certain borrowings availed by such Subsidiary.
• Funding the working capital requirements of the Company.
• Investment in the Subsidiaries, namely, Senores Pharmaceuticals Inc. (“SPI”)and Ratnatris Pharmaceutical Private Limited (“Ratnatris”), to fund their working capital requirements.
• Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes.

Registrar & Company Details