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Friday, May 05, 2006

Plethico Pharmaceuticals lists at Rs 408 on BSE

Plethico Pharmaceuticals has listed at Rs 408 on the BSE and at Rs 366 on the NSE. The stock was issued at Rs 300 per share.

On the BSE, 09.56 am, the share is quoting at 490, with volumes of 49,605 shares. It has touched an intraday high of Rs 500 and and intraday low of Rs 408.

On the NSE, 09.56 am, the share is quoting at 499, with volumes of 12,997 shares. It has touched an intraday high of Rs 499 and and intraday low of Rs 366.

Its BSE ID is 532739 and the NSE ID is PLETHICO.

Plethico Pharmaceuticals, one of India's fastest growing pharmaceutical companies in herbal and nutraceuticals, had entered the capital market with an initial public offering, IPO, of 36,66,667 equity shares for raising Rs 110 crore (Rs 1.1 billion) from the market.

The shares offered constituted 10.76% of the fully diluted post issue paid up capital of the company, which stands at Rs 34.07 crore (3,40, 66,667 shares). As a result the promoter's shareholding had come down to 87.01% of the post issue paid up capital.

Plethico has chosen the path of being a multi-product company, with a large global presence and has the following product range: Herbal and Allopathic Formulations, Consumer Healthcare Products and Nutraceuticals, Food Supplements, Disposables and Hospitals Consumables, and Veterinary Products. The company has a portfolio of more than 400 formulations in more than 39 therapeutic segments.

Plethico has two fully integrated state-of-the-art manufacturing units located near Indore, which serve as the backbone of the entire operations. These facilities are being upgraded as per stringent norms of UK MHRA.

Anand Rathi Securities was the sole book running lead manager and Enam Securities was the syndicate member, while Intime Spectrum Registry was the registrar to the issue.

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