Zenith Drugs Limited IPO
Zenith Drugs Limited IPO
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Zenith Drugs Limited's successfully transitioned to public market status with its listing on NSE on 27-02-2024. The IPO mobilized 51,48,800 Shares in cumulative capital, including 51,48,800 Shares for corporate expansion.
The public offering was conducted within the price parameters of ₹75 to ₹79, with minimum investment lots of 1600 shares. subscription activity between 19-02-2024 and 22-02-2024 demonstrated market reception to the company's valuation and growth narrative.
The allotment process concluded on 23-02-2024, finalizing share distribution to successful bidders. The listing represents a transformational event, providing the company with enhanced market visibility, regulatory compliance framework, and access to diversified investor capital.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Zenith Drugs IPO About Company
Zenith Drugs Limited, founded in 2000, is a pharmaceutical company that manufactures and trades affordable, high-quality medicines, including various generic products. The company operates under WHO-GMP guidelines and holds an ISO 9001:2015 certification, reflecting its focus on quality. It offers a wide product range such as ORS powder, liquid orals, ointments, liquid externals, and capsules, with over 600 products approved by the Food & Drugs Administration and 325 currently in production. Zenith Drugs is expanding by setting up a new manufacturing facility in Muradpura, Depalpur, Indore, and it also exports its products to multiple regions including Central America, Africa, Southeast Asia, and South Asia. The company provides third-party manufacturing services to well-known pharmaceutical brands like Ajanta Pharma, Bio Medical Laboratories, and Zest Pharma, and as of March 31, 2023, it employs 89 people, including both payroll and contract staff.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Zenith Drugs IPO Strength Factors
- Experienced Leadership: The company is guided by seasoned promoters and a skilled management team, ensuring strong leadership and strategic growth.
- Cost Efficiency: A focus on cost-effective operations helps maximize resource use, boosting profitability and competitiveness.
- Innovation & Development: Strong formulation and development capabilities allow the company to innovate and adapt to market trends, setting it apart from competitors.
- Regulatory Compliance: Strict adherence to regulations ensures smooth operations, reduces risks, and strengthens the company’s reputation.
- Global Presence: A broad international market reach helps diversify revenue streams and reduces reliance on any single region.
Zenith Drugs IPO Risk Factors
- Restrictive Financing Conditions: The company must get lender approval for financial decisions like borrowing or restructuring, which may limit flexibility in operations.
- Raw Material & Supplier Dependency: Relying on key suppliers without long-term contracts poses a risk—any shortages or price hikes could impact production and profitability.
- Manufacturing & Quality Risks: Any issues in production or quality control could disrupt operations, harm the company’s reputation, and lead to potential legal challenges.
- Rising Competition: Failure to keep up with increasing competition could result in lower market share and reduced profitability.
- Customer Payment Delays: Late or missed payments from customers could strain cash flow, affecting daily operations and financial stability.
Zenith Drugs IPO Lead Manager(s)
- Gretex Corporate Services Limited
Zenith Drugs IPO Promoter(s)
- Mr. Sandeep Bhardwaj
- Mr. Bhupesh Soni
- Mr. Ajay Singh Dassundi
Zenith Drugs IPO FAQs
Zenith Drugs Limited IPO subscribed 179.07 times. The public issue subscribed 138.57 times in the retail category,106.72times in QIB, and -- times in the HNI (10+) category byNovember 20, 2025 7:04:27 AM (Day 20).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Zenith Drugs IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Zenith Drugs IPO FAQs
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