Aanjaneya Lifecare IPO : CRISIL gives 1 out of 5 Grade

by khalid on 12/05/2011 · 0 comments

Mumbai based Aanjaneya Lifecare IPO has got 1 out of 5 by CRISIL (rating agency) and this rating/grading is “Poor Fundamentals” for a pharmaceutical company IPO. The grade 1 indicates that the fundamentals of the IPO are Poor compared to the other listed securities in India. The company is entering into primary market with its maiden public issue (IPO) of 5,000,000 Equity Shares of Rs 10 each. The premium of the issue will be decided through a 100% Book Building Process. Aanjaneya Lifecare Limited is a pharmaceutical company engaged in manufacturing & marketing of Bulk Drugs, Finished Dosage Forms, Herbal Medicines, Inhalers, Lozenges and Animal Health.

Another rating agency FITCH has given 2 out of 5 and this rating/grading is “Below Average Fundamentals” for a pharmaceutical company IPO. The grade 2 indicates that the fundamentals of the IPO are Below Average compared to the other listed securities in India.

The IPO proceeds would be used for setting up different plants, to expand existing R&D, to meet the expenses for branding and registration of products in the international markets, among others with expansion plans of about Rs 100 crore.

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The Book running lead managers (BRLM) to the issue are Anand Rathi Securities Limited and IDBI Capital Market Services Limited.

Registrar of the Issue : Link Intime (India) Private Limited

Stay tuned to BelltheBull Blog for more on Aanjaneya Lifecare IPO !

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