Celestial Labs to debut on bourses

Celestial Labs will debut on bourses on Tuesday, 17 July 2007. It will be placed in the B1 group on BSE.

The company raised Rs 30 crore through its initial public issue, which ended on 22 June 2007. The issue was priced at Rs 60 per share with each share having a face value of Rs 10 each.

At the IPO price of Rs 60, the PE works out to 13 based on its EPS of Rs 4.6 for the year ended March 2007 on post-issue equity of Rs 11.19 crore.

Hyderabad-based Celestial expects operates in a space of IT/bioinformatics, biotechnology and consultancy work. Celestial Labs offers enterprise solutions, data warehousing, business intelligence solutions and bio services like clinical data management, gene sequence analysis, molecular modeling, design and development of drug molecules dedicated to health sector to government institutions, pharma and biotech companies, hospitals and medical centers in India and overseas.

The IPO proceeds will be utilized for part financing its infrastructure for manufacturing of enzymes and enhance the existing infrastructure for bioinformatics and drug molecule development and related services. The company also plans setting up of marketing and liaison office at USA.

The company has so far invested Rs 11 crore in drug development and plans to further pump in Rs 5-6 crore over the next year. The company expects its revenue to reach Rs 30-35 crore in 2008/09.

The company posted a net profit of Rs 5.14 crore on revenue of Rs 14.13 crore in the year ended 31 March 2007.




Alpa Laboratories subscribed 0.43 times on day 3

On third day of Alpa Laboratories IPO, the issue was 0.43 times subscribed. The issue received total bids for 40.75 lakh shares as against total issue size of 95 lakh shares.

The Foreign Institutional Investors being the only bidders in the Qualified Institutional Buyers (QIBs) category had bid for 20 lakh shares. There were no bids by Domestic Financial Institutions and Mutual Funds, which are also part of the QIB category.

The Non Institutional Investors bid for 14.67 lakh shares as against 13.87 lakh shares set aside for this category.

The Retail Investors bid for 6.07 lakh shares, of which 5.39 lakh shares were bid at cut off price and 67,700 shares were bid at fixed price.

The price band for the issue has been fixed at Rs 62 - 68 a share and will close on 17 July 2007.

At the higher band of Rs 68, the PE is 22.7 based on FY 2007 EPS of Rs 3 on post-issue equity of Rs 21.56 crore. At the lower band of Rs 62, the PE works out to 20.7.

The company intends to deploy the issue proceeds to part-finance the setting up of a new plant in Madhya Pradesh. The plant is being set up at a cost of Rs 70.88 crore.

The company also plans to widen product range by foraying into probiotics, prebiotics and pre-filled syringes. It will also expand contract manufacturing activities to include large multinational companies.

The expansion project will be financed through a term loan of Rs 20 crore, promoters’ contribution of Rs 3 crore and balance from the IPO.




Omaxe IPO opens on 17 July 2007

Real estate developer Omaxe will enter capital market with an initial public offer of 1.77 crore shares with a face value of Rs 10 each.

The IPO opens on 17 July 2007 and close on 20 July 2007. The company has fixed the price band at Rs 256-310 per share.

The minimum market lot size for the issue is 20 shares.

The company would raise about Rs 550 crore at the upper band, much lower from its earlier target to raise up to Rs 1,400 crore.

From the total issue size, up to 1.75 crore equity shares are for the public, while the balance 2.96 lakh shares are reserved for eligible employees of the company. Additionally, there would be a green shoe option of 17.5 lakh equity shares.

The issue would constitute 10.30% of the fully diluted post-issue paid-up capital of the company, excluding the green shoe option.

Omaxe is a real-estate development and construction company promoted and founded by Rohtas Goel. Commencing operation as a construction and contracting company, it has completed 120 construction projects.

Now, its focus is fully on development of residential and commercial real-estate projects ranging from integrated townships, group housing and retail and other commercial properties, hotels, information technology and bio-tech parks to special economic zones.

The company has a presence in 30 cities and nine states and it plans to deploy the IPO proceeds for payments related to land, repayment of loan and for meeting development and construction costs.

The company has a land bank of over 3,000 acre and at present 47 projects are under development.



IVR Prime Urban Developers sets price band for IPO

Real-estate firm IVR Prime Urban Developers, a subsidiary of IVRCL Infrastructures & Projects, has set a price band of Rs 510 - Rs 600 a share for its initial public offer (IPO) of 1.41 crore shares.

Post-IPO, IVRCL's holding in IVR Prime will come down to 62.35%, from the current 80%.