Issue Summary
BID/ISSUE Opens On: MONDAY, MAY 12, 2008
BID/ISSUE Closes On: THURSDAY, MAY 15, 2008
Price Band - Upper Band: Rs 210
Price Band - Lower Band: Rs 200
Face Value: Rs 10 per equity share
Issue Size: 3,820,000 Equity Shares
Issue Size in at Upper Band: Rs 80.22 Cr.
Issue Size in at lower band: Rs 76.40 Cr.
Issue as % of post issue share capital: 27.14
Equity Shares outstanding prior to the Issue: 8,256,000 Equity Shares
Equity Shares outstanding post the issue: 12,076,000 Equity Shares
Listing on: BSE
Market Capitalization at upper band: Rs 253.60 Cr.
Company Background
Anu Laboratory was incorporated in the year 1996 for manufacture of Bulk Active Pharma Ingredients and Intermediates for drug molecules.
Group Companies
Anu's Laboratories Limited has three Group companies: Nitya Laboratories Limited (NLL), Zen Chemi Consultech Private Limited (ZCPL), and Zen Absorptions Private Limited (ZAPL). NLL is a contract manufacturer for Anu's, while ZCPL and ZAPL are unrelated to Anu's. All the three Group companies have incurred losses during the last three financial years.
Company Business
The company started its own manufacturing facilities in the year 1998 from Chilakamarri Village, Shadnagar, Mahboobnagar, District, Andhra Pradesh with manufacturing of 2,4 Dichloro 5 Fluoro Acetophenone (DCFA).
Further with a view to add more products in its product profile Anu entered into contracts in 2004 with Nitya Laboratories Limited for conversion jobs for manufacture of Sodium Methoxide and CIS (+) Hydroxide Lactam.
The Products of Anu's can be divided in three categories
a) Basic Intermediates
b) Advanced Intermediates
c) Fine Chemicals
Anu's supplies these to various drug manufacturers.
Anu's had started export of its products in the year 2002 to Israel followed by exports to other countries like Italy, Japan, France, USA and Singapore. Currently, exports comprise of 19.97% of its total turnover.
The Company has a team of 25 chemists who are engaged in research and development.
IPO Grading / Rating
ICRA has assigned an IPO Grade 2 on a scale of 5, indicating below average fundamentals.
we recommend to avoid the issue
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