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Greensignal Bio Pharma to hit capital markets to raise Rs 116.64 crore

04 Nov 2016 Evaluate

Greensignal Bio Pharma is coming out with a 100% book building; initial public offering (IPO) of 14,579,560 shares of Rs 10 each in a price band Rs 76-80 per equity share. The issue will open for subscription on November 09, 2016 and will close on November 11, 2016. The shares will be listed on BSE as well as NSE.

The objects of the offer are to achieve the benefits of listing the Equity Shares on the BSE and the NSE and to carry out the sale of up to 14,579,560 Equity Shares by the Selling Shareholders. Further, the company expects that the listing of the Equity Shares will enhance its visibility and brand image among its existing and potential customers and provide liquidity to the existing shareholders. The listing of the Equity Shares will also provide a public market for the Equity Shares in India. The company will not receive any proceeds of the offer and all the proceeds will go to the selling shareholders.

The book running lead manager to the issue is Indian Overseas Bank, while compliance officer for the issue is S. Rathna Prabha.

The company is one of the four companies worldwide who have been WHO-prequalified to supply the BCG vaccine to UNICEF. And it has secured a long term arrangement dated November 23, 2015 with UNICEF to supply the BCG vaccine to UNICEF subject to the purchase orders placed with the company.

Peers
Company Name CMP
Sun Pharma Inds. 1654.70
Dr. Reddys Lab 1232.00
Cipla 1229.60
Zydus Lifesciences 915.45
Lupin 2332.70
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