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Friday, April 25, 2008

Anu's Labs files for IPO

Hyderabad-based Anu's Laboratories has filed draft red herring prospectus with Sebi to raise around Rs 800 million from the capital markets.

Anu's Labs is the market leader in producing Dichloro-5-Fluoro Acetophenone, or DCFA, a key intermediate for ciprofloxacin. The company has over 60% market share in the country.

The company plans to deploy the proceeds raised from the initial public offering to set up an intermediary plant and contract research facility at Pharma City in Visakhapatnam, reports The Hindu Business Line.

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