New Delhi (India), August 18: JFL Life Sciences Limited, engaged in the business of manufacturing pharmaceutical products having an experience for more than a decade, has filed the prospectus with NSE EMERGE to raise Rs 1,816.58 Lakhs through an initial public offering (IPO).
The public issue of JFL Life Sciences Limited is for 29,78,000 equity shares of Face Value ₹10 each (“EQUITY SHARES”) for cash at a price of ₹ 61/- per equity share (including a securities premium of ₹ 51/- per equity share) (the issue price) aggregating ₹ 1,816.58 LACS of the issue. 1,50,000 equity shares aggregating to ₹ 91.50 Lakhs will be reserved for market maker (“Market Maker Reservation Portion”). The issue, less the Market Maker Reservation Portion, i.e., issue of 28,28,000 equity shares of Face Value of ₹ 10/- EACH at an issue price of ₹ 61/- per equity share, aggregating to ₹ 1,725.08 Lakhs, which is hereinafter referred to as “The Net Issue”. The issue and the Net Issue will constitute 27.08% AND 25.71%, respectively of the post issue paid up equity share capital of the company. The company will list at NSE Emerge. The Lead manager of the issue is GYR Capital Advisors Pvt Ltd and the Registrar to the issue is KFin Technologies Ltd.
The company intends to utilize the proceeds of the Issue to meet the following objectives:
- Repayment of secured and unsecured loans
- Funding the working capital requirements of the company
- General Corporate Purposes
JFL Life Sciences Limited is engaged in the business of manufacturing pharmaceutical products. Their product portfolio consists of Dry powder injections (B-Lactam), Tablets & Capsules (B-Lactam) solid oral dosage form and Tablet and capsules (general) Solid Oral Dosage Form and Oral rehydration solutions (ORS).With market presence in pan India, products of JFL supplies to 10 developed and developing countries throughout the World. To maintain its competitiveness and to further the cause of health care JFL has laid a strong R&D foundation and an FDA approved state of the art manufacturing facility near Ahmedabad.
The Company has registered their products to manufacture in various countries like sovereign of Kenya, Nigeria, Yemen, & Myanmar. Few of their products are also registered with Ukraine, Uzbekistan, and Kazakhstan as well. This builds a moat around their business. This also makes them a ‘one-stop-shop’ service provider for catering to all of the customer’s needs domestically as well as internationally.
The promoters, Mr. Smiral Ashwinbhai Patel and Tejal Smiralbhai Patel are actively involved in the day-to-day business of the company and are the guiding force behind the strategic decisions for the Company. Their management team and other key management personnel are well qualified and have extensive industry expertise, and have been responsible for the operational growth.
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