Aanjaneya Lifecare, a vertically integrated pharmaceutical company, is entering the capital market with its initial public offer of 5 million equity shares of Rs. 10 each for cash at a price band of Rs. 228-240. According to a release, the issue will be through a 100 per cent book building process which will constitute 39.76 per cent of the fully diluted post-issue paid-up capital of the company.
Not more than 50 per cent of the issue shall be allocated on a proportionate basis to qualified institutional buyers, not less than 15 per cent to non-institutional bidders and not less than 35 per cent of the issue shall be available to retail individual bidders.
The company would use the proceeds of the issue for setting up anti-cancer API facility, cGMP block for API, intermediate API block at Mahad Maharashtra.It will also be expanding its existing research and development centre at Mahad and Pune, Maharashtra, the release added.
Keywords: pharmaceutical industry