Business Daily from THE HINDU group of publications
Wednesday, May 07, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, May 07, 2008 ePaper | Mobile/PDA Version | Audio |
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Markets
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IPOs
Mr M. Ajaya Kumar (right), Chairman, Anu’s Laboratories Ltd, with Mr K. Hari Babu, Managing Director, at a press conference to announce the company’s IPO in Mumbai on Tuesday. — Our Bureau Mumbai, May 6 Anu’s Laboratories on Tuesday announced that the company will be hitting the capital markets with an IPO of 38.2 lakh equity shares on May 12. The issue will close on May 15, and the company has fixed the price band between Rs 200 and Rs 210 a share. The issue will comprise a reservation of up to 2 lakh equity shares for employees and a net issue to the public of 36.2 lakh equity shares. The issue will constitute 31.6 per cent of the fully diluted post issue paid-up capital of the company. The shares will be listed on Bombay Stock Exchange. The company is engaged in the manufacture of basic, advanced intermediates and fine chemicals and supplying them to various drug manufacturers. Qualified institutional buyers will be allocated 50 per cent of the issue, non-institutional bidders will be allocated 15 per cent and 35 per cent will be allocated to retail investors. The company plans to utilise the proceeds from the issue to set up a new plant for manufacturing of drug intermediates including active pharmaceutical ingredients at Vishakhapatnam, setting up of pilot plant for carrying out Contract Research and Manufacturing at Vishakhapatnam, long-term working capital requirement, general corporate purposes and for issue expenses. The book running lead manager to the issue is Almondz Global Securities. More Stories on : IPOs | Pharmaceuticals
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