Claris Lifesciences' Rs 300 cr IPO on Nov 24

Drug-maker Claris Lifesciences today said its initial public offer (IPO) to raise funds aggregating to Rs 300 crore will open on November 24.

According to a company official, who asked not to be identified, the firm has fixed the price band of the issue between Rs 278 to Rs 293 per share.

The proceeds of the issue will mainly go into capacity expansion, to set up a research and development facility and also into retiring the debt, the official said.
 
The company's bid issue opens on November 24 and closes on November 26, he added.
 
The Ahmedabad-based company has appointed Enam Securities, Edelweiss Capital, JM Financial Consultants and ICICI Securities as the book running lead managers to the issue.
 
Claris Lifesciences is one of the largest sterile injectables pharmaceutical companies in the country with a market presence in 76 countries worldwide.