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October 2, 2007

Saamya Biotech – IPO Open

Saamya Biotech is open for subscription with an initial public offering (IPO) of 15 lakh shares of Rs 10 each issued at par to raise around Rs 15 crore. The issue will close for subscription 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.

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.

UTI Securities is the book running lead manager and Aarthi Consultants Pvt Ltd is the registrar to the issue.

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