Wednesday, January 20, 2010

Syncom Health IPO - Analysis, Recommendation and Review

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All the recent IPOs have got great response from investors. The frequency of new IPOs have also increased. Syncom Health has come out with an IPO. The IPO will open on 27th January and will close on 29th January. The price range for the IPO has been fixed between Rs 65 and Rs 75.

The company is in the business of manufacturing, marketing and distribution of pharmaceutical formulations under own brands of Ethical, OTC, Generic and Herbal market segment.

The proceeds from the issue will be used for setting up new manufuring unit at Indore SEZ for various pharmaceuticals formulations; undertaking the upgradation/modernization of manufacturing facilities at Dehradun Plant; working capital requirements; setting up an export office at Mumbai and undertaking Brand & Product Registration and Approval. For its Dehradun Plant, it has 100% central excise exemption for a period of 10 year from the year of commencement of production, and 100% income tax exemption for first 5 years from first assessment year; 30% for subsequent 5 years and MAT is payable by the company but is eligible for set off.

The book running lead manager to the issue is Chartered Capital and Investment Ltd and Link Intime India Pvt Ltd is the registrar.

Watch out this blog for more information on the recommendation, subscription, allotment and listing!
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