How To Check Zenith Drugs IPO Allotment Status

The Zenith Drugs IPO witnessed exceptional demand from investors, with the subscription reaching 179.18 times on the final day.

If you applied for the IPO, here is how you can check the Zenith Drugs IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the Zenith Drugs IPO allotment status

  1. Visit the registrar's website.
  2. Click on "Company Selection" and choose "Zenith Drugs" from the dropdown menu.
  3. Then you can enter your PAN, application number, or Demat.
  4. Enter the captcha and click Submit to retrieve the Zenith Drugs IPO allotment status

If all the details are entered correctly and the allotment has been finalised, the Zenith Drugs IPO allotment status will be visible.

Zenith Drugs IPO Subscriptions Status

Qualified institutions subscribed to the Zenith Drugs IPO 106.72 times, non-institutional buyers were oversubscribed 368.77 times, and retail investors 139.28 times.

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Zenith Drugs IPO GMP

The Zenith Drugs IPO GMP is reported to be at ₹20. This indicates an around 25% premium on the IPO issue price of ₹79.  It's important to note that while IPO GMPs can offer insights into market sentiment regarding an IPO, they aren't the sole determinant of the stock's performance upon listing

Zenith Drugs IPO Details

The ₹40.68 crore SME IPO, comprised an entirely fresh issue of 51.49 lakh shares. The subscription window opened on February 19 and closed on February 22, with the price band set between ₹75 and ₹79 per share. The minimum lot size for an application was 1600 shares.

The company plans to allocate the net proceeds from the fresh issue towards several objectives. These include acquiring machinery and equipment to establish a new unit, upgrading the existing manufacturing block, fulfilling working capital requirements, and attending to general corporate purposes.

Zenith Drugs Company Details

Established in 2000, Zenith Drugs Limited is a pharmaceutical company specializing in producing affordable, high-quality medicines, particularly generics. With a diverse product range boasting over 600 FDA-approved items, Zenith Drugs is expanding its operations with a new facility in Madhya Pradesh.

Their market reach extends to countries in Central America, the Caribbean, the Pacific regions, Southeast Asia, and Africa. Renowned for third-party manufacturing, Zenith Drugs collaborates with industry leaders such as Ajanta Pharma. As of March 31, 2023, the company employs 89 individuals, with 61 on the payroll and 28 on contract.

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Posted In: NewsIPOsZenith Drugs