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Shashi Ashiwal

Towards listing: Mr Jayesh Patel (left), CEO, Alpa Laboratories Ltd, and Mr Paresh Chawla, Vice-President (Marketing), at a press conference to announce a the company’s IPO in Mumbai on Monday. –

Our Bureau

Mumbai, July 9 Alpa Laboratories Ltd (ALL), a multi-product pharmaceuticals formulations company, is entering the capital market with an initial public offering of 95,00,000 equity shares of Rs 10 each for cash at a premium to be decided through the 100 per cent book-building process.

The price band for the issue has been fixed at Rs 62-68. The issue opens for subscription on July 12 and closes on July 17.

The issue proceeds will be used to part-finance the setting up of a new plant at Pigdamber, Indore in Madhya Pradesh. The plant is being set up at a cost of Rs 70.88 crore.

The company is adding capacities in the production lines of liquid injections, dry powder injections, ampoules, tablets, creams and dry syrups. Post-expansion, collectively, the capacity in these segments will reach 63.57 lakh units per day from the present capacity of 25.32 lakh units per day.

“The plant will be commissioned by July 2008. We would be focusing on the growing markets for the drugs used in the lifestyle disorder segments such as diabetes, cardio-vascular and gynaecology segments by launching our existing/new products in these segments and promoting them,” said Mr Jayesh Patel, CEO.

In addition to the proceeds from the IPO, the project will be financed through a term loan of Rs 20 crore and a promoters’ contribution of Rs 3 crore.

Of the term loan, State Bank of Indore will be financing Rs 15 crore and State Bank of Travancore, Rs 5 crore.

The company has a presence in the Indian and foreign markets and is looking to increase its percentage of exports from the current 11 per cent.

“Currently, we have 35-40 products registered for exports. The registration for another 130 products will come through in the next 4-6 months,” said Mr Patel.

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