Saamya Bio IPO opens on Sep. 25
Saamya Bio IPO opens on Sep. 25
>Saamya Biotech (India) is set to tap the capital market with a public issue of 15,000,000 equity shares of Rs 10 each, aggregating to Rs 150 million.
The issue will open on Sep. 25 2007 and close on Sep. 28, 2007.
UTI Securities is the lead manager to the issue. Aarthi Consultants is the registrar to the issue.
Business Profile:
Saamya Biotech (India)Â was formed to carry on the business of manufacturing, buying, selling and dealing in types of chemicals, pharmaceuticals, drugs and intermediates. It proposes to set up manufacturing facilities for AP Biotechnology Park for manufacture of low-volume, high-value active bio-Pharmaceutical ingredients, such as Daunomycin (anti-cancer); Hyaluronic Acid, Pharma Grade (Ophthalmic medicine), and Hyaluronic Acid, Cosmetic Grade. The company has coll aboration with Biofin Laboratories s.r.l, Italy for technology to manufacture the products. The company has set up in August 2002 as 100% EOU. As of Mar. 7, 2006, the company had not commenced operations.
Objects of the issue:
Saamya Biotech intends to route the issue proceeds to part finance its expansion plans. The company will utilise the capital to set up manufacturing facilities including R&D; and to meet margin money for working capital.
Financials:
As of now it has no financials to report, so the management said that they will have revenues from FY08 onwards.It has total assets of Rs 91.9 million and networth of Rs 86.6 million.
