Sunday, May 11, 2008

Anu's Labs IPO - Analysis, Review and Recommendation

Anu's Laboratories plans to enter the capital market on May 12 with its initial public offering of 38,20,000 equity shares of Rs 10 each for cash, at a price to be decided through 100 per cent book building process. The company is presently engaged in the manufacture of basic, advanced intermediates and fine chemicals and supplying them to various drug manufacturers.

The company has fixed a price band of Rs 200-Rs 210 per share. The issue will close on May 15. The issue comprises a reservation of up to 2,00,000 equity shares for employees and a net issue to the public of 36,20,000 equity shares. The issue will constitute 31.63 per cent of the fully diluted post issue paid-up capital of the company.

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. ICRA has assigned Grade 2/5 to the IPO. The shares will be listed on Bombay Stock Exchange.

We do not recommend investors to invest in this IPO. Bookmark this site for all the updates on Subscription, Allotment and Listing!

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