Brooks Labs to raise Rs 63 cr

Brooks Laboratories Ltd, a pharmaceutical contract research and manufacturing services company, is entering the capital market to raise Rs 63 crore.

It would raise the amount by issuing equity shares in the price band of Rs 90 to Rs 100 per share (including premium) by the book building process. The issue will be open from August 16 to 18.

The company said it would use the raised funds for setting up a manufacturing unit in Gujarat, for working capital needs, general corporate purposes and to meet the issue expenses for listing of shares.

The new plant would be in compliance with European Union and World Health Organisation’s Good Manufacturing Practices (GMP).

The plant will produce cephalosporins injectibles, tablets and dry syrup dosage forms. The plant will have a combined capacity of 500 million tables, 60 million dry syrup bottles and 60 million injectibles.

Mumbai-based D&A Financial Services Private Limited is the sole Book Running Lead Manager (BRLM) to the issue.

Link Intime India Private Limited, Mumbai, is the registrar to the issue.