Anu’s Laboratories IPO subscribed 8.43 times

The maiden IPO by Anu’s Laboratories Limited  was subscribed 8.43 times by 5.30 pm as per NSE’s website this evening on the last day of the Issue. The Company, engaged in the manufacture of basic, advanced intermediates and fine chemicals had entered the capital markets on 12th May 2008 with a public issue of  38,20,000 Equity shares of Rs 10 each  including employees reservation portions of 2 lac equity shares through 100% book building process in the price band of Rs 200 to Rs 210 per equity share. Almondz Global Securities Ltd, is the BRLM and Karvy Computershare Pvt Ltd is the Registrar for the Issue and Atherstone Capital Markets was advisor to the company. The Equity shares are proposed to be listed on BSE.

In order to diversify and expand its business activities by means of forward integration, the Company has decided to expand its operations by setting up a new plant for manufacturing of drug intermediates including Active Pharmaceutical Ingredients (APIs) at Vishakhapatnam at an estimated cost of Rs. 55.09 crores and setting up a pilot plant for carrying out Contract Research and Manufacturing (CRAM) at Vishakhapatnam at an estimated cost of Rs. 8.34 crores. The long term working capital requirements would be Rs. 16.67 crores. The Company plans to meet the aforesaid objects by means of issue proceeds and internal accruals.

Anu’s Laboratories Ltd was incorporated in 1996 for manufacture of Bulk Active Pharma Ingredients and Intermediates for drug molecules and was promoted by Mr. K. Hari Babu. Mr. N.S. Walimbe joined as co-promoter in 1997. The present manufacturing plant of Anu’s Laboratories Limited is located at Chilakamarri Village, Shadnagar of Mehboobnagar district in Andhra Pradesh. The Company presently having manufacturing facilities for key intermediates like 2,4-Dichloro-5-Fluoro Acetophenone (DCFA) (an intermediate for synthesizing quinolone antibiotics like ciprofloxacin); Chlorohexanone (key intermediate in the manufacture of cardio vascular medicine) and Methyl-4 (4-Chloro 1 oxo butane) a, a Di-Methyl Acetate (like Fexofenadine an anti allergic drug).

The Company had started export of its products in the year 2002 to Israel followed by exports to other countries like Italy, Japan, France, USA and Singapore.It’s exports comprise of 19.97% of its total turnover.

The Company’s total income during the Financial Year ended March 31, 2007 was Rs. 12,129.52 lakhs as against Rs. 9,533.93 lakhs in the Financial Year ended March 31, 2006 and the net profit during the corresponding period was Rs 1,359.15 lakhs against Rs. 557.25 lakhs respectively. The total income and the net profit for the nine months period ended December 31, 2007 were Rs. 11,382.26 lakhs and Rs. 1,312.36 lakhs respectively.  

Sourced From: Concept Public Relations India Pvt. Ltd