Senores Pharma Q1FY27 IPO fund usage: no deviation, seeks shareholder nod on object 1 delay
SENORES · price
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Awaiting price reaction for this filing.
Senores Pharmaceuticals filed Q1FY27 statement on IPO fund utilization. No deviation reported. Out of Rs 500 cr raised in Dec 2024, Rs 399.46 cr deployed. Object 1 (sterile injection facility at Atlanta via subsidiary Havix) shows slow deployment with only Rs 6.98 cr of Rs 107 cr used. Company is seeking shareholder approval to vary objects or extend timeline via postal ballot. Minor reallocations done between objects including transfers to inorganic growth and general corporate purposes.
Slow deployment of Atlanta facility funds may concern investors; postal ballot outcome will be key. Overall IPO proceeds largely on track.