Anu Labs IPO to open on May 12

New Delhi, May 7 (UNI) Drug maker Anu's Laboratories Ltd today said it plans to raise Rs 80.22 crore through an initial public offer of 38.2 lakh shares to expand capacity.

The Hyderabad-based firm has fixed a price band of Rs 200-210 a share for its issue, a statement said.

The net issue to the public, excluding the reservation for employees, is 36.2 lakh shares, constituting 31.63 per cent of the post-issue capital.

''The proceeds will be used to set up a new unit at a cost of Rs 55.09 crore and a pilot plant for contract research and manufacturing, both in Visakhapatnam, and for working capital,'' the statement said.

The issue will open on May 12 and close on May 15.

The Almondz Global Securities is the book running lead manager.

UNI SR BJR DB2052