Intas Pharmaceuticals Limited has recently declared an IPO Deal. The company has also informed that it aims at raising a substantial amount of capital through this initial public offering and wants to use the capital in enhancing the manufacturing capacity of Intas Pharmaceuticals Limited.
Intas Pharmaceuticals IPO refers to the Initial Public Offering that was recently announced by the Intas Pharmaceuticals Limited. According to the CFO of Intas Pharmaceuticals Limited, the company is going to come out with the IPO deal in the current fiscal year 2007-08.
The Intas Pharmaceuticals Limited is aiming to raise a substantial amount of capital through this initial public offering. The amount of raised capital may range somewhere between 300 crores of rupees and 400 crores of rupees. But, the company refused to comment on the actual size of the proposed initial public offering.
Preparation for the Initial Public Offering
Intas Pharmaceuticals Limited has informed that the company has already begun the necessary ground work, required for the Initial Public Offering. The company has met some merchant bankers in this respect.
Reason behind the IPO
Intas Pharmaceuticals Limited is planning for this Initial Public Offering in order to raise capital that can be used for acquiring some companies of Europe and USA. The company has also thought enhancing its’ manufacturing capacity using the capital raised through the IPO.
The company has a plan of investing almost 50 crores of rupees in an EOU (Export Oriented Unit), which they are going to set up at the Pharma SEZ(Special Economic Zone) at Changodar. The capital raised through the proposed initial public offering may be used to finance this particular project.
But, there is a buzz in the industry that, the owner of Intas Pharmaceuticals Limited, the Chudgar Family, actually wants to reach a settlement between brothers, through the way of Initial Public Offering. It can be mentioned here, that, at present, the family members of the Chudgar Family, including the brothers, Urmish, Binish and Nimish hold 87.5% equity shares of Intas Pharmaceuticals Limited, while Chrys Capital holds the remaining 12.5% equity shares of the company.
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Last Updated on : 30th July 2013