Hyderabad-based Anu's Laboratories is ready to enter the capital market on May 12 with its initial public offering of 3.82 million equity shares of Rs 10 each for cash, at a price to be decided through 100 per cent book building process.

The company has fixed the price band of Rs 200 to 210 per equity share for its forthcoming initial public offering (IPO). The issue will close on May 15.

ICRA leading credit rating agency has assigned an IPO Grade 2, indicating below average fundamentals to the proposed IPO.
Anu's Labs is engaged in the manufacturing of basic, advanced intermediates and fine chemicals and supplying them to various drug manufacturers.

The company plans to utilize the proceeds for - setting up a new plant for manufacturing of drug intermediates including Active Pharmaceutical Ingredients at Vishakhapatnam, setting up of pilot plant for carrying out Contract Research and Manufacturing at Vishakhapatnam, long term working capital requirement, general corporate purposes and for issue expenses.

The equity shares are proposed to be listed on Bombay Stock Exchange of India (BSE) and National Stock Exchange (NSE).

The book running lead manager to the issue is Almondz Global Securities.