Chhattisgarh based Brooks Laboratories IPO (Initial Public Offering) has got 2 out of 5 by ICRA (rating agency) and this rating/grading is ‘Below Average’ for a steel manufacturer and power generation company. The grade 2 indicates that the fundamentals of the IPO are ‘Below Average’ compared to the other listed securities in India. Brooks Laboratories Limited established in 2002 and manufactures pharmaceutical formulations namely tablets, injections and dry syrups.
The IPO proceeds will be used to set up the company’s new manufacturing unit at JB SEZ, Panoli, Gujarat for manufacturing of various pharmaceuticals formulations , meet long term working capital requirement , meet general corporate purpose and to meet issue expenses and listing of shares on stock exchanges.
The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).
Company’s major clients are Zydus Cadila, Aristo Pharmaceuticals, FDC, Nectar Lifesciences , Sanat Products , Hetero Healthcare , Medley Pharmaceuticals, Wockhardt, Parental Drugs, Chanderbhagat Pharma and Alembic , etc.
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