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Last Updated : Dec 13, 2018 07:24 PM IST | Source: Moneycontrol.com

Deccan Healthcare to raise Rs 40 crore via IPO on BSE SME platform

The issue, scheduled to stay open from December 18 to 20, will be at a price band of Rs 95 to Rs 100 per equity share with face value of Rs 10 each.

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Nutraceutical maker Deccan Healthcare will be launching its initial public offering on the BSE SME Exchange to raise around Rs 40 crore.

The issue, scheduled to stay open from December 18 to 20, will be at a price band of Rs 95 to Rs 100 per equity share with face value of Rs 10 each.

BSE SME Exchange has been set up by the Bombay Stock Exchange (BSE) to provide Small and Medium Sized Enterprises (SMEs) a platform for raising equity capital for their growth and expansion.

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Hyderabad-based Deccan Healthcare said it plans to utilise the proceeds of the IPO for repayment of Rs 8 crore debt, invest on the expansion of manufacturing plant at Rudrapur, Uttarakhand and for other general corporate purposes.

Deccan Healthcare manufactures and sells about 1,500 formulations of micronutrients called nutraceuticals for hair care, skin care, heart care, and immunity building.

To drive sales, the company launched BE YOUNG brand through an e-commerce platform.

In 2010, the company set up its own manufacturing facility in Rudrapur, Uttarakhand to produce nutraceuticals in forms such as tablets, capsules, gels, liquids, ointments, and powders.

The company posted an annual turnover of Rs 40 crore in 2018.

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First Published on Dec 13, 2018 07:24 pm
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