Introduction
SPC Lifesciences Ltd, a prominent pharmaceutical ingredients manufacturer, has initiated the process of launching its initial public offering (IPO). The company has filed draft papers with the Securities and Exchange Board of India (SEBI), marking a significant milestone in its journey towards raising capital from the market.
IPO Details
The IPO proposed by SPC Lifesciences comprises a combination of fresh issuance of equity shares amounting to Rs 300 crore and an Offer For Sale (OFS) of 89.39 lakh equity shares by promoter Snehal Rajivbhai Patel. Additionally, the company may explore a pre-IPO placement, potentially raising up to Rs 60 crore, which would affect the size of the fresh issue.
Utilization of Funds
Proceeds from the fresh issue are earmarked for several purposes, including debt repayment, supporting working capital requirements, and financing capital expenditure for the expansion of Phase-2 at its Dahej facility. The expansion aims to diversify the company’s product offerings in pharmaceutical intermediates and cater to evolving market demands.
Company Profile
SPC Lifesciences, headquartered in Gujarat, specializes in the manufacturing of advanced intermediates essential for various key active pharmaceutical ingredients. These intermediates play a vital role in therapeutic areas such as cardiovascular, vasodilator, anti-psychotic, and anti-depressant drugs, contributing to the advancement of healthcare solutions.
Lead Managers
Ambit and HDFC Bank have been appointed as the book-running lead managers for orchestrating the company’s IPO. Their expertise and market insights are expected to facilitate a successful offering, ensuring optimal value realization for investors.
Listing Plans
Upon completion of the IPO process, SPC Lifesciences’ shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), providing investors with access to trading opportunities and enhancing the company’s visibility in the capital market landscape.
As SPC Lifesciences embarks on this transformative journey, its IPO signifies not only a strategic move to raise capital but also a testament to its commitment to innovation, growth, and value creation in the pharmaceutical industry.
Hiroto Suzuki
