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Tuesday, September 18, 2007

Saamya Bio to raise Rs 15cr via IPO, opens on Sept 25

Saamya Biotech is coming out with an initial public offering (IPO) of 15 lakh shares of Rs 10 each to raise around Rs 15 crore. The issue will open for subscription on September 25 and close on September 28, 2007.

The company has set up in August 2002 as 100% EOU and deals in various chemicals and pharmaceuticals and also deals in various drugs and intermediaries.

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 9.19 crore and networth of Rs 8.66 crore.

Money raised from the issue intends to use for setting up manufacturing facilities including R&D, pilot facility and to meet margin money for working capital.

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