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Syncom Healthcare IPO opens for subscription
Indore based Syncom Healthcare, a company is in the business of manufacturing, marketing and distribution of pharmaceutical formulations under own brands of Ethical, OTC, Generic and Herbal market segment, has opened its public issue of 75,00,000 equity shares of Rs 10 each for subscription today.
Indore based Syncom Healthcare, a company is in the business of manufacturing, marketing and distribution of pharmaceutical formulations under own brands of Ethical, OTC, Generic and Herbal market segment, has opened its public issue of 75,00,000 equity shares of Rs 10 each for subscription today.
The company is going to raise Rs 48.75-56.25 crore with the price band of Rs 65-75 per equity share. The issue will constitute 42.86% of the fully diluted post issue paid up capital of the company and will close on January 29.
The proceeds from the issue will be used for setting up new manufuring unit at Indore SEZ for various pharmaceuticals formulations; undertaking the upgradation/modernization of manufacturing facilities at Dehradun Plant; working capital requirements; setting up an export office at Mumbai and undertaking Brand & Product Registration and Approval.
For its Dehradun Plant, it has 100% central excise exemption for a period of 10 year from the year of commencement of production, and 100% income tax exemption for first 5 years from first assessment year; 30% for subsequent 5 years and MAT is payable by the company but is eligible for set off.
The book running lead manager to the issue is Chartered Capital and Investment Ltd and Link Intime India Pvt Ltd is the registrar.
