Indoco prices IPO at Rs 220-245
Indoco Remedies has fixed the price band for its maiden public issue at Rs 220-245. The company is making an initial public offer of 30,00,000 equity shares of Rs 10 each.
The issue is being made through the 100% book building process. The issue will remain open from December 17-23, 04.
The promoters and the promoting group currently hold 79.8% of the paid-up equity capital of Rs 8.8 crore, which will fall to 59.5% after the issue.
Enam Financial Consultants is the book running lead manager; IL&FS Investmart is the co-book running lead manager. Intime Spectrum Registry is the registrar to the issue.
The proceeds will be utilised to partly fund the companys expansion programme, to set up a formulation plant at Baddi, Himachal Pradesh, an API manufacturing plant, R&D centre, and repayment of loans for brand acquisition and purchase of office.
For the financial year ended June 04, the company reported net sales of Rs 156.6 crore and a net profit of Rs 21.2 crore. Indoco is ranked No 34 as per ACNielsen ORG-Marg Retail Audit at the all-India level and ranks No 23 in terms of prescription generation by ACNielsen ORG-Marg Prescription Audit of June 04.
The issue is being made through the 100% book building process. The issue will remain open from December 17-23, 04.
The promoters and the promoting group currently hold 79.8% of the paid-up equity capital of Rs 8.8 crore, which will fall to 59.5% after the issue.
Enam Financial Consultants is the book running lead manager; IL&FS Investmart is the co-book running lead manager. Intime Spectrum Registry is the registrar to the issue.
The proceeds will be utilised to partly fund the companys expansion programme, to set up a formulation plant at Baddi, Himachal Pradesh, an API manufacturing plant, R&D centre, and repayment of loans for brand acquisition and purchase of office.
For the financial year ended June 04, the company reported net sales of Rs 156.6 crore and a net profit of Rs 21.2 crore. Indoco is ranked No 34 as per ACNielsen ORG-Marg Retail Audit at the all-India level and ranks No 23 in terms of prescription generation by ACNielsen ORG-Marg Prescription Audit of June 04.