Recent news was about the Gujarat government backed GIFT IPO (Gujarat International Finance Tech-city IPO). Now, a private firm from the pharma and drug sector is all set to come out with a mega IPO amounting to the valuations of 2.5 billion Rs.
The Gujarat Ahmedabad-based drug and pharma company, Claris Lifesciences has plans to come out with the IPO or Initial Public offer. The approximate size of the Claris Life sciences IPO is expected to be in the range o2 to 2.5 billion Rs., as per the reports from Business Standard.
The company has already appointed UBS, Enam Securities and ICL sponsorer Edelweiss as the book running lead managers of the Claris Lifesciences IPO and is in advanced level discussions with Morgan Stanley.
It is expected that the company will sell around 10% of the shares through the IPO and the Claris Lifesciences primary market news has already seen a lot of interest from QIBs.
Fundamentals of Claris Lifesciences look good for the moment. It has managed to establish a global footprint in lifestyle drugs and was targeting a turnover of Rs 6 billion in 2007, a rise of about 50% compared with 2006.
Pharma is one good sector to invest in the times when people are living longer and want moer medical support not only during the last stage of life, but also in the young age due to the current hectic lifestyle. Investments in good pharma companies for long term make a good business sense.
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