Anu's Laboratories To Enter Capital Market Today

Anu’s Laboratories Limited will enter capital market today (May 12) with its Anu's Laboratoriesinitial public offering (IPO) of 38.20 lakh equity shares of Rs 10 each through 100% book building process.

The price band has been fixed Rs 200-Rs 210 per share. The issue will open for subscription between May 12 and May 15, 2008.

The issue has reserved around 2,00,000 equity shares for eligible employees, whereas the net issue to the public will be 36,20,000 equity shares, constituting 31.63% of the fully diluted post issue paid-up capital of the company.

The IPO has been assigned "2/5" rating from ICRA. The shares will be listed on Bombay Stock Exchange. The book running lead manager to the issue is Almondz Global Securities.

The company would utilize the IPO proceeds for establishing a new facility for making drug intermediates including active pharmaceutical ingredients at Vishakhapatnam, setting up of pilot plant for executing contract research and manufacturing at Vishakhapatnam, for long term working capital requirement, general corporate purposes and for issue expenses.

Established in 1996, Anu's Laboratories Limited is an ISO 9001:2000 certified company, which is engaged in manufacture of quality drug intermediates to meet up the requirements of worldwide customers. It is one of the top makers and suppliers of basic and advanced quality drug intermediates and Active Pharmaceutical Ingredients (API) in India.