Bafna Pharmaceuticals Ltd - IPO

Bafna Pharmaceuticals Ltd
Period	27-May to 30-May 2008
Size (Equity Shares)
Type	Fixed Price Issue
Face Value	Rs. 10-
Price Range	Rs 40 to Rs 40
Market Lot
Max shares Retails investor can apply at cut off
Registrar	Cameo Corporate Services Ltd
Registrar's email	cameo@cameoindia.com
Lead Manager	Keynote Corporate Services Ltd, Ashika Capital Ltd
Listing	BSE
Grading
About the company
Incorporated: 1995, Engaged in the business of manufacturing pharmaceutical formulations of Betalactum and Non Betalactum products. Manufactures 126 formulations under various therapeutic segments, such as anti-infective, cholesterol lowering agents, analgesic and antipyretic, antihelmintics, appetite stimulants, cough and cold preparations, antiulcerants anti diabetic, and vitamins. In 2006, Bafna has set up an 100% EOU unit at Madhavaram for the production of tablets and capsule with a capacity of 6973.20 lacs and 2462.40 lacs. The unit has been WHO GMP certified and also ISO 9000 certified. The products manufactured in this factory caters to the markets of Srilanka, Ghana and Ukraine. Bafna was involved in the execution of contracts for the generic division of M/s. Croslands from the period 1994 to 2001. Bafna was awarded the WHO GMP certification during the year 1995. Presently around 57 products of the company are registered in Srilanka, 4 products in Ukraine, 1 product in Ghana. The company received the Best Supplier award from the Srilankan Government during 2005.
Objects of the Issue
To undertake Brand Building exercise in domestic & international markets; To part finance the cost of obtaining MHRA approval for Grantlyon unit; To set up a Research & Development unit at Grantlyon; To repay high cost debt; To meet the working capital requirement; To meet expenses of the Issue in order to achieve the benefits of listing on the Stock Exchanges; General corporate purposes.