Aanjaneya Lifecare lists at Rs 218

The company raised around Rs 120 crore through the issue of 50 lakh equity shares at higher end of price band of Rs 228-240 a share.

Aanjaneya is 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.

Issue proceeds are proposed to be used for :-
-Setting up of anti cancer API facility at Mahad, Maharashtra
-Setting up of cGMP block for APIs at Mahad, Maharashtra
-Setting up of Intermediate API block at Mahad, Maharashtra
-Expansion of our existing research and development centre at Mahad and Pune, Maharashtra
-Setting up of a quality control and quality assurance block at Mahad, Maharashtra
-Setting up of product development laboratory at Mahad, Maharashtra
-Setting up of stores building at Mahad, Maharashtra
-Meeting the expenses for branding and registration of products in the international markets

Anand Rathi Advisors Ltd and IDBI Capital Market Services Ltd were the book running lead managers to the issue.