Zenith Drugs IPO is an entirely fresh equity issue of 51.4 lakh shares and through the issue, the company aims to raise Rs 40.6 crore. The company is offering its shares at Rs 75-79 apiece, and investors can bid for 1,600 shares in 1 lot.
The net proceeds from the public offer will be used for the purchase of machinery and setting up the new plant, existing manufacturing block upgradation, working capital requirements, and general corporate purposes.