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Calyx Chemicals and Pharmaceuticals files DRHP with SEBI for IPO

02 Oct 2012 Evaluate
Calyx Chemicals and Pharmaceuticals has filed a draft red herring prospectus (DRHP) with SEBI for an Initial Public Offer (IPO) of 70.5 lakh equity shares of face value Rs 10 each. The company is also considering a pre-IPO placement of upto 10 lakh shares aggregating upto Rs 30 crore.

The book running lead managers to the issue are PL Capital Markets Private Limited and YES Bank. The company intends to use issue proceeds for setting up of a new cGMP compliant facility for intermediates, repayment/pre-payment of identified loan facilities and general corporate purposes. Calyx has made an application to Foreign Investment Promotion Board seeking its approval to offer, issue and allot equity shares upto 49% of the total post issue paid up capital of company to foreign investors.

Calyx Chemicals is a manufacturer of active pharmaceutical ingredients and intermediates in India with strong presence in the manufacture of macrolides, anti-tuberculosis and anti-malaria and increasing focus on contract research and manufacturing services (CRAMS) to transnational pharmaceutical companies.
 

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