Pharmaceutical company Aanjaneya Lifecare is planning to enter capital markets with an initial public offering of 50 lakh shares of Rs 10 each. It has filed draft red herring prospectus with the market regulator Securities & Exchange Board of India (SEBI).
The issue will constitute 39.76% of the fully diluted post issue paid-up capital of company.
Aanjaneya is a vertically integrated pharmaceutical company with manufacturing and marketing capabilities in APIs (Active Pharmaceutical Ingredients) with focus on anti-malarial, and Finished Dosage Forms (FDFs) catering to various therapeutic segments. Company’s installed capacity for processing quinine, a pharmaceutical API for malaria derived from natural extracts, has grown from 2,00,000 kgs per annum in the year 2007 to 4,50,000 kgs per annum in the year 2010. It has already commenced production of third generation anti malarial APIs i.e. artemisinin and its derivatives. It is also setting up a separate block for manufacturing anti cancer APIs and a separate cGMP block for manufacturing of niche APIs and a separate intermediate block for manufacturing the intermediates of niche APIs which have applications in various therapeutic segments. Currently promoters Aasda Life Care Limited and Dr Kannan K Vishwanath hold 73.25% and 26.75% stake in the company, which will be reduced to 60.24% (in total) post issue.
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