Intas Pharmaceuticals Ltd on Friday said it has filed a draft red-herring prospectus with the Securities and Exchange Board of India and the stock exchanges for an initial public offering (IPO).
The Ahmedabad-based pharmaceutical major is a vertically-integrated company with global operations, engaged in the development, manufacture and marketing of pharmaceutical formulation.
The IPO will be made through a public issue of equity shares of face value of Rs 10 each, including a share premium, which will be determined on a later date, aggregating to Rs 225 crore, and an offer for sale of 1,16,21,100 equity shares by Mozart Ltd, the company said in a statement here.
The promoters of the company are the Chudgar family, Intas Enterprise Pvt Ltd, Equatorial Pvt Ltd and Cytas Research Ltd.
Kotak Mahindra Capital Company Ltd and Morgan Stanley India Company Pvt Ltd are the Book Running Lead Managers to the issue and Link Intime India Pvt Ltd is the Registrar to the issue.
The company’s market share in India is 2.52 per cent, based on domestic sales of formulations. Its products are marketed in over 60 countries.