Aurobindo Pharma, one of the leading Indian pharmaceutical research companies, is reportedly planning to launch a qualified institutional placement (QIP) issue to mop up around $300 million. The company has hired Citigroup and Bank of America-Merrill Lynch as bankers for the share sale which is expected to take place within a couple of weeks. The investment bankers have already launched soft marketing of the deal and are ready to launch the issue, depending on market conditions.
Aurobindo Pharma, headquartered at Hyderabad, India, manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company’s manufacturing facilities are approved by several leading regulatory agencies like US FDA, UK MHRA, Japan PMDA, WHO, Health Canada, MCC South Africa, ANVISA Brazil. The company’s robust product portfolio is spread over 6 major therapeutic/product areas encompassing Antibiotics, Anti-Retrovirals, CVS, CNS, Gastroenterologicals, and Anti-Allergics, supported by an outstanding R&D set-up.
