Claroid Pharmaceuticals has filed draft papers with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The company’s proposed IPO comprises a fresh issue of up to 74.50 lakh equity shares and an offer for sale of up to 51.50 lakh shares, aggregating to 1.26 crore equity shares.
The net proceeds from the fresh issue will be used to fund capital expenditure for setting up a new manufacturing facility at the company's existing land in Ahmedabad. The proposed facility will manufacture injectables, ampoules, vials, dry powder, pre-filled syringes and eye-drop products. The plant is estimated to cost around Rs 167.97 crore and will have an installed capacity of 15 lakh units per month. Oneview Corporate Advisors and Valmiki Leela Capital are the book-running lead managers to the issue.
Claroid Pharmaceuticals operates a manufacturing facility at Pirana, Ahmedabad. It manufactures tablets, capsules and ointments.
