Anlon Healthcare, a research-intensive pharmaceutical bulk drug and intermediate manufacturing company based in Rajkot, has submitted revised draft papers to SEBI in order to raise money through an IPO, according to a Moneycontrol report.
It had previously submitted IPO preliminary documents on October 9 and received a response from the capital markets regulator on December 9.
Fresh DRHP revealed same offer
According to the draft red herring prospectus submitted on December 26, the chemical manufacturing company has kept its fresh issue size of 1.4 crore equity shares, with no offer-for-sale component.
Use of IPO proceedings
Out of the net proceeds from the new issue, the company will use Rs 30.7 crore to expand its manufacturing facility, Rs 5 crore to pay off debt, Rs 35.98 crore to meet working capital needs, and the remaining funds for general corporate purposes.
Shareholding pattern
Public shareholders, such as Shree Dwarikadhis Ventures LLP, Amitaben Natwarlal Ukani, and BAN Labs, own the remaining 29.74 per cent of Anlon, with promoters Punitkumar Rasadia and Meet Atulkumar Vachhani owning the remaining 70.26 per cent.
Listed peers of company
Compared to listed peers like Kronox Lab Sciences, AMI Organics, and Supriya Lifescience, Anlon is one of the few producers of loxoprofen sodium dihydrate (in India), a noteworthy API that is frequently used to treat pain and inflammation.
Company’s product portfolio
Advanced pharmaceutical intermediates are produced by the company and are used as raw materials to make active pharmaceutical ingredients.
Additionally, the company produces APIs, which are used as primary ingredients in pharmaceutical formulations to create a variety of final dosage forms, including tablets, capsules, ointments, syrups, and ingredients for nutraceuticals, personal care products, and animal health products.
