Anu's Laboratories IPO was subscribed 0.25 times on third day of its issue. The IPO received bids for 9.63 lakh shares as against 38.20 lakh shares on offer. (As on 16:00 IST)
The company has fixed a price band of Rs 200-Rs 210 per share. The issue will close on 15 May 2008.
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.
ICRA has assigned Grade 2/5 to the IPO.
Source: Capitalmarket.com
Wednesday, May 14, 2008
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