Zenith Drugs IPO – Open and Close Date, Reservation, Lot Size, How to apply?

The Zenith Drugs Limited IPO details include a fresh issue of 0.51 crore shares with a face value of 210 per equity share. The IPO also involves a promoter holding of 100.00% pre-PO.

Zenith Drugs IPO

The subscription window for Zenith Drugs IPO is scheduled from February 19 to February 22, 2024, with the allotment expected to be finalized on February 23, 2024. 

Field Details
IPO Date February 19, 2024 to February 22, 2024
Listing Date To be announced
Face Value ₹10 per share
Price Band ₹75 to ₹79 per share
Lot Size 1600 Shares
Total Issue Size 5,148,800 shares (aggregating up to ₹40.68 Cr)
Fresh Issue 5,148,800 shares (aggregating up to ₹40.68 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Shareholding pre issue 12,000,000
Shareholding post issue 17,148,800
Market Maker portion 852,800 shares (Gretex Share Broking)

The IPO is set to be listed on NSE SME, and the tentative listing date is February 27, 2024. The price band for Zenith Drugs IPO ranges from ₹75 to ₹79 per share, with a minimum lot size of 1600 shares.

Zenith Drugs IPO Timeline (Tentative Schedule 2024

Key Dates:

  • IPO Open Date: Monday, February 19, 2024
  • IPO Close Date: Thursday, February 22, 2024
  • Basis of Allotment: Friday, February 23, 2024 (Expected)
  • Initiation of Refunds: Monday, February 26, 2024 (Expected)
  • Credit of Shares to Demat: Monday, February 26, 2024 (Expected)
  • Listing Date: Tuesday, February 27, 2024 (Tentative)
  • Cut-off time for UPI mandate confirmation: 5 PM on February 22, 2024

Zenith Drugs IPO

Zenith Drugs IPO Reservation Details 2024

Reservation of shares in the Zenith Drugs IPO is based on the following categories:

Qualified Institutional Buyers (QIB):

  • Offered Shares: Not more than 50% of the Net Issue Size.
  • Key Points:
    • This category includes institutions like mutual funds, insurance companies, and foreign institutional investors.
    • Reservations within the QIB category might further be sub-divided as per SEBI regulations.
    • Allotment is done through a book-building process based on bids received.

Retail Individual Investors (RII):

  • Offered Shares: Not less than 35% of the Net Issue Size.
  • Key Points:
    • This category includes individual investors applying for up to ₹2 Lakhs in the IPO.
    • Allotment is done through a lottery system if applications exceed the offered shares.

Non-Institutional Investors (NII):

  • Offered Shares: Not less than 15% of the Net Issue Size.
  • Key Points:
    • This category includes high net-worth individuals (HNIs) applying for above ₹2 Lakhs but less than ₹10 Lakhs.
    • The NII category can be further divided into Small NII (₹2 Lakhs to ₹10 Lakhs) and Big NII (above ₹10 Lakhs), with specific share reservation within each sub-category.
    • Allotment is done through a combination of book-building and lottery depending on the sub-category.

Zenith Drugs IPO Lot Size

Investors can bid for a minimum of 1 lot, which consists of 1600 shares, and in multiples thereof. This means you cannot apply for less than 1600 shares. The table below shows the minimum and maximum investment amounts for retail investors and HNI investors based on the lot size:

Investor Category Lots Shares Amount (₹)
Retail (Min) 1 1600 16000
Retail (Max) Any multiple of 1 Up to 1600 x desired multiple Up to 16000 x desired multiple
HNI (Min) 1 1600 16000
HNI (Max) Any multiple of 1 Up to 1600 x desired multiple Up to 16000 x desired multiple

Zenith Drugs IPO Promoter Holding 

  • Current Pre-Issue Holding: The promoters of Zenith Drugs, Mr. Sandeep Bhardwaj, Mr. Bhupesh Soni, and Mr.Ajay Singh Dassundi, collectively hold 100.00% of the company’s shares before the IPO.
  • Post-Issue Holding: After the IPO, assuming full subscription based on the current offer size, the promoters’ holding will reduce to 69.98%.
  • Dilution: This represents a 30.02% dilution in their ownership stake due to the fresh issue of shares in the IPO.

How to apply for Zenith Drugs Ltd IPO?

General guide on the online application process:

  • Select a registered broker that offers IPO investment services. Popular options include Zerodha,Upstox, Angel Broking, etc.
  • Ensure you have a Demat account to hold the shares if your application is successful. 
  • Link your bank account with your Demat account to facilitate funds transfer for IPO applications.
  • Research the company, understand the issue size, price band, and other crucial details before applying.
  • Log in to your broker’s platform and locate the dedicated IPO section.
  • Select the investor category you belong to (Retail, HNI, etc.).
  • Specify the number of shares you wish to apply for and the price you’re willing to pay.
  • Review your application details and confirm submission. Make sure you have enough balance in your account.

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