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Thursday, December 21, 2006

Alpa Labs files DRHP with Sebi; plans 9.5mn shares IPO

Alpa Laboratories, a pharmaceuticals formulations company, has filed a draft prospectus with Sebi to enter the capital market with an IPO of 95 lakh equity shares of Rs 10 each through a 100% book building process, reports The Hindu Business Line.

Of the shares on offer, 2.50 lakh shares will be reserved for employees and the net offer to the public will be 92.50 lakh shares.

50% is being reserved for qualified institutional bidders and 15% for non-institutional investors.

The remaining 35% is reserved for allotment to retail investors on a proportionate basis.

The issue will constitute 44.06% of the fully diluted post-issue equity capital of the company.

The lead manager for the issue is Allianz Securities and the registrar will be Bigshare Services.

The company is also expanding its existing production capacity and widening its product range by entering into segments such as probiotics, prebiotics and pre-filled syringes.

For the proposed expansion, the company is setting up a new plant at Pigdamber, Indore in Madhya Pradesh at a cost of Rs 42.35 crore.

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