Jubilant Life Sciences may list on NYSE

Jubilant Life Sciences, a global pharmaceutical and life sciences firm that manufactures and supplies active pharmaceutical ingredients, generics and life science ingredients, might soon list itself on the New York Stock Exchange (NYSE), said a source close to the development, adding it aimed to raise $150-200 million through the initial public offering.

"The company is engaged in active talks with investment bankers and a decision about the timing, etc, would be taken shortly," the source told Business Standard.

In response to a detailed e-mail query to Jubilant Life Sciences, its public relations agency ImprimisPR said, "The company has no statement to make at this stage. However, we will come back in case of any additional comment."

According to the source, the company might delist from Indian bourses. Since 1981, Jubilant Life Sciences has been listed on the BSE and the National Stock Exchange (NSE).

It is learnt the company is facing hurdles due to the tightening regulations in India; the company stock remains undervalued. On Friday, the Jubilant Life Sciences stock closed at Rs 74.5 on the NSE and Rs 74.95 on the BSE.

The company, headed by Shyam S Bhartia and Hari S Bhartia, is a core segment of the $3-billion Jubilant Bhartia Group.