Aanjaneya Lifecare IPO to list on Friday

The initial public offering of Aanjaneya Lifecare, a unit of Finaventure Capital, will list on Friday (May 27, 2011) on the BSE and NSE.

On the BSE, the scrip code for the company will be 533412 and on NSE scrip ID is AANJ.

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

Bids can be made for 25 equity shares and in multiples of 25 shares thereafter. The issue will close on May 12.

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 are the book running lead managers to the issue.