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Our Bureau

Hyderabad May 11 Celestial Labs Ltd, a Hyderabad-based IT and bio-informatics company, has received regulatory nod to enter the capital market with a public issue to raise about Rs 30 crore.

The company proposes to issue 50 lakh equity shares of Rs 10 each for cash at a price of Rs 60 (including premium of Rs 50 per share), aggregating Rs 30 crore.

The issue comprises 44.67 per cent of fully diluted post-issue paid-up capital of the company.

The lead manager to the issue is Chartered Capital and Investment Ltd, New Delhi, while Karvy Computershare Pvt Ltd, Hyderabad, would be the registrar, according to a company release.

Celestial, incorporated in 1987, clocked a turnover of Rs 14.10 crore and net profit of Rs 5.14 crore during the fiscal ended March 31, 2007.

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