GreenSignal Bio Pharma IPO to open on November 9
DSIJ Intelligence / 03 Nov 2016
GreenSignal Bio Pharma, a vaccine manufacturing company, is entering the capital market with its initial public offering and has fixed a price band of Rs 76 to Rs 80 per share with a FV of Rs 10.
GreenSignal Bio Pharma, a vaccine manufacturing company, is entering the capital market with its initial public offering and has fixed a price band of Rs 76 to Rs 80 per share with a FV of Rs 10. The IPO of the company will open on November 9 and close on November 11. Indian Overseas Bank is the global coordinator and book running lead manager to the issue.
On the financial front, the company’s consolidated net revenues from operations grew at a CAGR of 210.70 per cent during fiscal year 2015 to fiscal year 2016. Revenues from operations have increased by 210.36 per cent to Rs 2049.25 lacs for the year ended March 31, 2016 from Rs 660.29 lacs for the year ended March 31, 2015.
The IPO will be interesting as the global vaccine market, which was once considered as a commodity market, is now among the fastest developing markets for the global pharma industry. The global vaccine industry has witnessed impressive growth in recent times and has surpassed many of the traditional businesses in the global pharmaceutical market.
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