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    HomeFinanceSPC Lifesciences submits documents for INR 300 crore Initial Public Offering (IPO)

    SPC Lifesciences submits documents for INR 300 crore Initial Public Offering (IPO)

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    SPC Lifesciences Ltd, a pharmaceutical ingredients manufacturer based in Gujarat, has recently filed preliminary papers with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO will consist of a fresh issuance of equity shares worth Rs 300 crore and an Offer For Sale (OFS) of 89.39 lakh equity shares by promoter Snehal Rajivbhai Patel, as stated in the draft red herring prospectus. However, if a pre-IPO placement is completed, the fresh issue size will be reduced by up to Rs 60 crore.

    The funds raised from the IPO will be utilized to pay off debts and support working capital needs. Additionally, the company plans to use the funds to finance capital expenditures required to establish Phase-2 at its Dahej facility, which will expand its product offerings of pharmaceutical intermediates. The remaining funds will be allocated for general corporate purposes.

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    SPC Lifesciences Ltd is a leading manufacturer of advanced intermediates for certain key active pharmaceutical ingredients. The company’s expansion plans are aimed at further strengthening its position in the market and enhancing its product offerings. The IPO is expected to provide the necessary capital for these growth initiatives.

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    Rajesh M
    Rajesh Mhttps://www.telanganatribune.com
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