Claris Lifesciences Ltd IPO : Finally subscribed 1.50 times

by khalid on 03/12/2010 · 0 comments

The IPO of Claris Lifesciences Limited has received a minimal response from the investors with the final over-subscription figure reached to just 1.50 times on an overall basis and that too on extending subscription date for 4 more days. Claris Lifesciences Ltd IPO was open on 24th Nov 2010 and get closed on 2nd Dec 2010 for subscription. The IPO has managed to get some what better response from Non Institutional Investors Category where it overbid by 2.03 times on the final day of subscription. The price band for the issue was Rs 228 at lower level and Rs 235 at upper level. Claris Lifesciences is one of the largest sterile injectables pharmaceutical companies in India with a market presence in 76 countries worldwide. The company’s products range across various therapeutic segments, including anaesthesia, critical care, anti-infectives, renal care, infusion therapy, enteral & parenteral nutrition and oncology.

The category-wise subscription status of IPO on closing day is given below:-

Qualified Institutional Buyers (QIBs) : 1.31 times
Non Institutional Investors : 2.03 times
Retail Individual Investors : 1.60 times
Overall : 1.50 times

The IPO proceeds would be used to setting up of a new plant compri. a PVC bag line, setting up of a new manu. line for propofol, construction of a facility for R & D, prepayment of an identified term loan and general corporate purposes .

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 to the issue are Edelweiss Capital Ltd, Enam Securities Pvt Ltd, ICICI Securities Ltd and JM Financial Consultants Pvt Ltd.

Registrar of the Issue : Link Intime India Pvt Ltd .

Stay tuned to BelltheBull Blog for more on Claris Lifesciences Ltd IPO !

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