Financial Daily from THE HINDU group of publications
Tuesday, Feb 24, 2004
Financial Daily from THE HINDU group of publications Tuesday, Feb 24, 2004 |
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Markets
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IPOs Biocon fixes IPO in Rs 270-315 band Our Bureau
Bangalore , Feb. 23 BIOCON India has placed its initial public offer in a band between Rs 270 and Rs 315 per equity share of face value Rs 5. The company will list its shares on the NSE and the Bombay Stock Exchange. It filed its prospectus with the Registrar of Companies, Bangalore, ahead of the IPO for 10 million equity shares of Rs 5 each. The issue will form 10 per cent of the fully diluted post-issue paid-up capital of the company - or Rs 100 crore. The domestic biotechnology major is going in for the 100 per cent book building method. The CMD, Ms Kiran Mazumdar Shaw, said, "We intend to utilise the proceeds for enhancing our submerged fermentation and chemical synthesis capacity to meet the growing demand for biopharmaceutical products such as statins." It supplies biopharmaceutical products to pharma companies aboard. DSP Merrill Lynch and Kotak Mahindra Capital Co Ltd are the book running lead managers and HSBC Securities & Capital Markets (India) is the co-book running lead manager.
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