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Aanjaneya Lifecare IPO price band at Rs 228-240

| | Updated on: May 03, 2011

Aanjaneya Lifecare, a vertically integrated pharmaceutical company, plans to raise Rs 120 crore through its initial public offering. The IPO will open on May 9 and close on May 12. The price band for the issue has been fixed at Rs 228-240 a share, said a news release from the company.

The company has on offer 50 lakh shares, which constitute 39.76 per cent of the entirely diluted post issue paid-up capital of the company.

The net proceeds of the issue will be used to set up an anticancer API facility, quality control and quality assurance block and product development laboratory and stores building at Mahad, Maharashtra. It also includes expansion of existing Research and Development Centre at Mahad and Pune and for meeting the expenses for general corporate purposes.

Aanjaneya Lifecare manufactures and markets capabilities in APIs (Active Pharmaceutical Ingredients), focuses on anti-malarial and Finished Dosage Forms (FDFs) and provides it to various therapeutic segments. The shares of the company will be listed on both BSE and NSE.

Published on May 03, 2011

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