Elder Pharma to launch IPO on Feb 16

Elder Pharma to launch IPO on Feb 16

MUMBAI: Elder Pharmaceuticals Ltd, a Mumbai-based company will 'enter the capital market on February 16, 2000 with an initial public offer (IPO) of 48.86 lakh shares of Rs ten each at a premium of Rs 100 per share to raise Rs 53.74 crore. The objectives of the issue include setting up two new multi-product bulk drug plants at Patalganga and re-location of existing semi-synthetic penicillin bulk drug plants from Navi Mumbai to Patalganga.