Parabolic Drugs IPO Issue

Parabolic DrugsChandigarh based Bulk drugmaker Parabolic Drugs announced its initial public offering (IPO) open June 14, 2010.and would remain open for subscription till June 17, 2010. The company issue nearly 20,25,000 shares to raise Rs 200 crore-through the IPO issue. Price band is Rs.75 (lower level) to Rs.85 (higher level).

Parabolic Drugs is engaged in the manufacturing and contract manufacturing of active pharmaceutical ingredients (API), and API intermediates for domestic and export markets. The company produces the SSP (Semi Synthetic Penicillin) and Cephalosporin range of antibiotics in oral and sterile form, Parabolic Drugs Ltd plans to use the initial public offering (IPO) proceeds for capacity expansion at various manufacturing units.

31-Mar-06, the company has reported profit after tax of Rs 8.22 Crore (total income of Rs 90.12 Crore). 31-Mar-08, profit after tax of Rs 29.67 Crore (total income of Rs 273.94 Crore). 31-Mar-09, it has posted profit after tax of Rs 21.09 Crore (total income of Rs 396.94 Crore).

Minimum Order Qty is 80 and Market Lot is 80. Issue Type is Book Building.
The company listing at NSE,BSE.

CARE has assigned IPO Grade 2 to the initial public offer of Parabolic Drugs Ltd, this indicating company ‘Below Average Fundamentals’.

Address: SCO 99-100, Level III & IV, Sector 17-B, Chandigarh – 160017, India.
Punjab Plant Address: Village Sundhran, Derabassi, Punjab, India.
Haryana Plant Address: Industrial Areal, Panchkula, Haryana, India.

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Phone number; 91-172-3914646.   Fax detail; 91-172-3914645.

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Avendus capital Pvt.Ltd., ICICI Securities Ltd. is a Book Running Lead Managers.

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