Sudarshan Pharma Ind announces launch of initial public offering
07/06/2019 16:20
Sudarshan Pharma Industries Ltd. has announced public offering of 3440000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 65.00 per share. The gross proceeds of the issue are expected to be Rs 2,580.00 lakhs.

The company's initial public offer (IPO) will open on 12 June 2019 and is expected to close on 17 June 2019, subject to customary closing conditions.

The IPO includes a fresh Issue of 3440000 Equity Shares of the Company at an price of Rs 75.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1600 shares with bids in multiples of 1600.

Sudarshan Pharma Industries Ltd. anticipates using the proceeds of the issue for ) To set up a dedicated manufacturing facility for Pharmaceutical Business;) Distribution and Warehousing Centre‘s & Purchase of Corporate Office;) Additional Working Capital;) General Corporate Expenses; and) To meet the expenses of the Issue.

FIRST OVERSEAS CAPITAL LIMITED as lead manager & Karvy Fintech Pvt. Ltd. is the registrar, to the issue.