Anu's Lab IPO on May 12, price band at Rs 200-210

Mumbai, May 6 (UNI) Anu's Laboratories, engaged in the manufacture of basic, advanced intermediates and fine chemicals, proposes to enter the capital market on May 12 with a public issue of 38,20,000 equity shares of Rs ten each through 100 per cent book building process.

The price band has been fixed at Rs 200 to Rs 210 per equity share of Rs ten each. The issue will close on May 15.

Anu's Laboratories Chairman K Hari Babu told mediapersons here today that the present manufacturing plant of Anu's Lab is located at Chilakamarri village in Mehboobnagar district of Andhra Pradesh.

''In order to diversify and expand business activities by means of forward integration, the Company has decided to expand its operations by setting up a new plant for manufacturing drug intermediates, including Active Pharmaceutical Ingredients (APIs), at Vishakhapatnam at an estimated cost of Rs 55.09 crore and setting up a pilot plant for carrying out Contract and Manufacturing (CRAM) at Vishakhapatnam at an estimated cost of Rs 8.34 crore,'' Mr Babu said. The long-term working capital requirement would be Rs 16.67 crore.

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