The Rs 63 crore initial public offering of pharmaceutical company Brooks Laboratories has opened for subscription today. The company has fixed the price band at Rs 90-100 a share.
Brooks Laboratories is a pharmaceutical contract research & manufacturing (CMO) services company. It has a wide range of products catering to the critical care segment in parental sections like Beta Lactam, Cephalosporin & general dry powder injectables, Ampoules and liquid vials, dry syrups and tablets etc.
Its product portfolio comprises of 28 injectables, 19 tablets and 2 dry syrups which are marketed domestically.
Brooks plans to set up a new manufacturing unit at JB SEZ Pvt Ltd, Panoli, Gujarat for manufacturing various pharmaceuticals formulations to the tune of Rs 51.8 crore. It also needs Rs 5 crore for long-term working capital.
Brooks plans to set up a new manufacturing unit at JB SEZ Pvt Ltd, Panoli, Gujarat for manufacturing various pharmaceuticals formulations to the tune of Rs 51.8 crore. It also needs Rs 5 crore for long-term working capital.
In the year ended March 2011, Brooks reported a 17% growth in revenues to Rs 53.20 crore over the previous year. The net profit for the same period went up 32.6% to Rs 6.9 crore.
Secured loans declined 26.5% in FY11 to Rs 8.7 crore.
The issue will close on August 18, 2011. D & A Financial Services Pvt Ltd is the book running lead manager to the issue. Link Intime India Pvt Ltd is the registrar
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