Bafna Pharmaceuticals will open for subscription today with its public issue of 64,00,000 equity shares of Rs 10 each at a price of Rs 40 per equity share (including share premium of Rs 30 per equity share) for cash aggregating Rs 25.60 crores .
The issue will constitute 40.05% of the post issue paid-up capital of the company. The issue price is 4 times of the face value. The shares are proposed to be listed on the BSE.
Objects of the issue are as follows:
* Brand building in domestic markets Rs 10.44 crore.
* Part payment of loan from SBI Rs 4 crore.
* Brand building in international markets Rs 3.03 crore.
* Setting up R&D facilities Rs 3 crore.
* MHRA Accrediation Rs 1.08 crore.
* Public Issue expenses Rs 2.05 crore.
Cameo Corporate Services is the Registrar to the Issue.
Ashika Capital and Keynote Corporate Services are the Lead Managers to the Issue.