May 27, 2011, 10.13 AM | Source: Moneycontrol.com
On the NSE Aanjaneya Lifecare listed at Rs 218 as against the issue price of Rs 234. It touched an intraday high of Rs 274.95 and an intraday low of 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.