Anu's Laboratories IPO was subscribed 8.43 times on the last day of its issue. The IPO received bids for 3.22 crore shares as against 38.20 lakh shares on offer.
The qualified institutional buyers (QIBs) category was subscribed 2.83 times, the non institutional investors portion was subscribed 26.97 times and the retail investors portion was subscribed 9.64 times.
The company had fixed a price band of Rs 200-Rs 210 per share.
Anu's Laboratories is engaged in the manufacturing of basic, advanced intermediates and fine chemicals and supplying them to various drug manufacturers.
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, for long term working capital requirement, general corporate purposes and for issue expenses.
Source: CapitalMarket.com
Friday, May 16, 2008
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