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Published by : ReutersAnu's Laboratories Limited IPO Listing Info:
IPO Listing Date: Wednesday, June 04, 2008
BSE Script Code: 532981
Listing in: B Group of securities
ISIN: INE450H01014
Issue Price: Rs. 210/- Per share
Face Value: Rs 10/- Per Equity Share
IPO Allotment Status is now available online for Anu's Laboratories Limited IPO.
Anu's Laboratories Limited IPO was open on May 12, 2008 and closed on May 15, 2008. IPO was oversubscribed by 8.43 times (9.6417 times in retail).
Anu's Lab IPO got trouble due to some legal issues. Company published a letter to its investors giving the option to withdraw from the public issue because company failed to disclose a pending law suit in its Red Herring Prospectus. The law suit was files by Sunmoon Chemicals Pvt. Ltd in Nov 2007 and this case is still pending. Anu's lab failed to disclose this in its offer document.
Due to define rules by SEBI, Company has given an option to its investors to withdraw the application with in 10 days from May 16, 2008.
This may cause some delay in share allotment and refund for Anu's lab IPO. Investors who do not want to block their money may withdraw their IPO application in next 10 days.
Anu's Laboratories Limited IPO oversubscribed by 8.43 times. Non Institutional category oversubscribed around 26.9726 times while Qualified Institutional Buyers (QIBs) quota oversubscribed around 2.8395 times.
Retail Individual Investors (RIIs) category oversubscribed 9.6417 times and Employees category oversubscribed 1.0001 times.
Anu's Laboratories Ltd IPO - Final bid details (information from NSE Website)
| Sr.No. | Category | No.of shares offered/reserved | No. of shares bid for | No. of times of total meant for the category |
| 1 | Qualified Institutional Buyers (QIBs) | 1810000 | 5139510 | 2.8395 |
| 1(a) | Foreign Institutional Investors (FIIs) | 2910390 | ||
| 1(b) | Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies) | 489480 | ||
| 1(c) | Mutual Funds | 1140660 | ||
| 1(d) | Others | 598980 | ||
| 2 | Non Institutional Investors | 543000 | 14646120 | 26.9726 |
| 2(a) | Corporates | 7160790 | ||
| 2(b) | Individuals (Other than RIIs) | 6925020 | ||
| 2(c) | Others | 560310 | ||
| 3 | Retail Individual Investors (RIIs) | 1267000 | 12216000 | 9.6417 |
| 3(a) | Cut Off | 11819250 | ||
| 3(b) | Price Bids | 396750 | ||
| 4 | Employee Reservation | 200000 | 200010 | 1.0001 |
| 4(a) | Cut Off | 1710 | ||
| 4(b) | Price Bids | 198300 |
Anu's Laboratories Limited, IPO subscribed 0.21 times on its 2nd day.
QIBs: 0.2183
Non Institutional: 0.3978
Retail (RIIs): 0.1073
Employees: 0.2327
The price band for the issue is Rs. 200/- at lower level and Rs. 210/- at upper level for equity share of Rs. 10/-. The issue closes for subscription on May 15, 2008. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE).
Anu's Laboratories Limited IPO Recommendation
Public Issue Open: May 12, 2008 to May 15, 2008
Public Issue Price: Rs 200/- to Rs 210/-
Price Earning Ratio at upper band: 14.50
Price Earning Ratio at lower band: 13.81
Anu's Laboratory was incorporated in the year 1996 for manufacture of Bulk Active Pharma Ingredients and Intermediates for drug molecules.
The financial indicators of Anu's Lab (not of other group companies) are good. The company is growing, increasing sales and profits and also increasing its profit margins. Returns on Networth and returns on capital employed are very good.
On the other hand, Anu's Lab is a small company and present into a commodity business which makes this issue very risky. Since Anu's has a decent financial profile there are chances that it might list with a marginal listing gain. But the chances of this happening are very slim. Price earning multiple of around 15 and price to book of around 4 is too high a price to pay for Anu Labs.
We recommend to avoid the issue.
For detail analysis please visit following link:
/newportal/ipo_review.asp?a=174
Incorporated in 1996, Anu's Laboratories Limited is an ISO 9001:2000 certified company, engaged in manufacture bulk active pharma ingredients and intermediates for drug molecules and was promoted by Mr. K. Hari Babu.
Anu's Laboratories Limited is entering in the capital markets with an initial public offering, IPO of 38,20,000 Equity Shares for cash, at a premium to be decided through a 100% Book Built Issue.
The price band for the issue has been fixed at Rs. 200/- at lower level and Rs. 210/- at upper level for equity share of Rs. 10/-. The issue opens on May 12, 2008, and closes for subscription on May 15, 2008. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) .
The Anu Laboratories IPO is proposed to open on May 12, 2008. The IPO application ends on May 15, 2008.
Retail investors can apply in the retail or non-institutional investor category from May 12, 2008 to May 15, 2008. The Anu Laboratories IPO can be applied online through Net Bank (ASBA method) or the stock broker (UPI method).
The Anu Laboratories IPO will open for subscription on May 12, 2008. The public issue will close on May 15, 2008.
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