IPO Details

Bidding Dates

19 Feb '24 - 22 Feb '24

Minimum Investment

₹ 126,400 / 1 Lot ( 1600 Shares )

Price Range

₹75 - ₹79

Maximum Investment

₹ 126,400 / 1 Lot ( 1600 Shares )

Retail Discount

Not Applicable

Issue Size

₹40.68 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Retail Individual Investors  |   Non-institutional Investor  |  

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Feb 19, 2024

Closing Date

Feb 22, 2024

Basis of Allotment

Feb 23, 2024

Initiation of Refunds

Feb 26, 2024

Credit of Shares to Demat

Feb 26, 2024

Listing Date

Feb 27, 2024

Cut-off time for UPI mandate confirmation

Feb 22, 2024

IPO Subscription Details


Day 1Feb 19, 2024

0.00x 0.99x 3.42x 1.92x

Day 2Feb 20, 2024

3.50x 1.88x 8.54x 5.67x

Day 3Feb 21, 2024

3.54x 7.98x 19.42x 12.43x

Day 4Feb 22, 2024

106.72x 368.55x 136.98x 177.98x

IPO Subscription Status Live

Investor Category Subscription (Times)
Qualified Institutional Buyers 106.72x
Non-Institutional Buyers 368.55x
Retail Investors 136.98x
Total 177.98x

About Zenith Drugs Ltd

Zenith Drugs is a pharmaceutical manufacturing and trading company based out of Indore with its own manufacturing unit. They are specialised in manufacturing both high-quality medicines as well as generic medicines, which are cost-effective. They are WHO-GMP compliant, adhering to World Health Organisation guidelines. They also possess the ISO 9001:2015 certification, obtained from a respected EuroUK certification body.

Initially, they started as a modest manufacturing house for oral and external formulations. However, they later shifted to a Schedule M GMP-compliant unit in 2004, where they started the production of liquid orals and ointments. In 2007, they also started ORS Powder manufacturing.

The market size of India's pharmaceuticals industry is expected to reach US$ 65 billion by 2024, and ~US$ 130 billion by 2030. A growing sector can help in the growth of an organised player like Zenith Drugs.

Zenith Drugs Ltd IPO Details

Zenith Drugs Ltd IPO Dates

The dates for bidding for the Zenith Drugs IPO are February 19, 2024, to February 22, 2024.

Zenith Drugs Ltd IPO Price Band

Zenith Drugs is a book-built IPO. The exact price range is ₹75 to ₹79 per share.

Zenith Drugs Ltd IPO Lot Size

The Zenith Drugs Ltd IPO lot size is 1,600 shares per lot.

Zenith Drugs Ltd IPO Objectives

The net proceeds from the issue are proposed to be utilised towards the following objectives:

  1. Purchase of machinery and equipment for setting up a new unit.
  2. Existing manufacturing block upgradation.
  3. Working capital requirements.
  4. General corporate purposes.

Peer Details

The following are the listed peer companies of Zenith Drugs in India:

  1. Sudarshan Pharma Industries Limited
  2. Sigachi Industries Limited

How To Check the Allotment Status of the Zenith Drugs Ltd IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Zenith Drugs Ltd

Registered office: K. No. 72 / 5, Village Muradpura, NA Depalpur, Indore-453001, Madhya Pradesh, India.

Phone: +91 8435501867

E-mail: info@zenithdrugs.com

IPO Financials

Particulars Year Ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Total Revenue 11,569.65 9,266.63 7,351.57
Net Profit 515.33 313.82 302.92
Return on Capital Employed 37.29% 30.08% 36.52%
Return on Equity 35.13% 29.83% 40.73%

Know before investing


  1. Zenith's ability to handle both manufacturing and marketing in-house allows for seamless coordination and control over the entire product lifecycle.

  2. Zenith Drugs has established a strong presence in various international markets worldwide, distinguished by its unique products and competitive pricing. They currently have a presence in countries like Costa Rica, Malawi, Mauritius, Mozambique, Sudan, Tajikistan, Liberia, Sierra Leone, etc.

  3. Zenith Drugs has a strong track record of regulatory compliance and quality assurance. The company consistently meets or exceeds stringent international standards set by regulatory bodies such as the FDA and WHO, thus adding to its brand.


  1. The company conducts its business activities on a purchase order basis and, therefore, has not entered into long-term agreements with its customers except for government contracts.

  2. They have very few suppliers of raw materials and have no long-term supply contracts with them. In the event they are unable to procure adequate amounts of raw materials, at competitive prices their business may be adversely affected.

  3. They presently have only one major manufacturing facility. Continued operations of our manufacturing facility are critical to their business and any disruption in the operation of their manufacturing facility may have a material adverse effect on the business.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Zenith Drugs Ltd IPO FAQs

What is Zenith Drugs Ltd's IPO?

Zenith Drugs IPO is a book-built IPO. The dates for the IPO are February 19, 2024, to February 22, 2024.

When will Zenith Drugs Ltd's IPO be allotted?

The basis of allotment will be finalised on Friday, February 23, 2024. The credit of shares to the demat accounts will take place on Monday, February 26, 2024.

When will Zenith Drugs Ltd's IPO open for subscription?

The IPO subscription window is from February 19, 2024, to February 22, 2024.

What minimum lot size can retail investors subscribe to?

The lot size for the IPO will be 1,600 shares per lot.

When will Zenith Drugs Ltd list on exchanges?

Zenith Drugs Ltd will be listed on the NSE Emerge on Tuesday, February 27, 2024.

What would be the listing gains on the Zenith Drugs Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The date of listing is Tuesday, February 27, 2024.

I have finished the application process for the Zenith Drugs Ltd IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Zenith Drugs Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Zenith Drugs Ltd using one PAN?

You can submit only one application using your PAN card.