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Calyx Chemicals and Pharmaceuticals has approached the Securities and Exchange Board of India for permission to tap the capital market with an initial public offer.
The company, a manufacturer of active pharmaceutical ingredients and intermediates, said today that it “has filed the Draft Red Herring Prospectus (DRHP) with SEBI for an initial public offering’’.
The issue comprises 68.3 lakh equity shares having a face value of Rs 10 each for cash at a price to be determined through the 100 per cent book-building process. It also includes an employee reservation portion of 50,000 equity shares.
However, the company has not disclosed about the utilisation of funds from the proceeds.
PL Capital Markets Pvt Ltd, Yes Bank and Punjab National Bank are the book running lead managers to the issue.
Meanwhile, the company’s standalone net sales grew to Rs 321.80 crore in 2009-10 from Rs 235.01 crore in the previous year, while profit after tax rose to Rs 21.89 crore from Rs 15.48 crore.
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