Zota Healthcare all set for its IPO launch
Sanket Dewarkar / 21 Apr 2017
The company declared pricing of its initial offering of 46,80,000 equity shares with a face value of Rs 10 per share at a price band of Rs 121 to Rs 125.
Zota Healthcare Limited (ZHCL), the drug maker based in Surat, is all set to launch its Initial public offer (IPO) and will be selling shares on NSE's Emerge, which is a trading platform for small and medium enterprises, from April 27, 2017.
The company declared pricing of its initial offering of 46,80,000 equity shares with a face value of Rs 10 per share at a price band of Rs 121 to Rs 125.
The offer consists of fresh issue of 31,80,000 equity shares and offer for sale of 15,00,000 equity shares.
ZHCL is one of the India’s fastest growing pharmaceutical company with a portfolio of formulations including Nutraceuticals and Ayurvedic offerings that are available in many Asian, African, Latin American and CIS countries in addition to India.
Himanshu Zota, director, Zota Healthcare says “Our company is going public mainly to raise funds for the company’s expansion plans in the Indian and foreign markets, which is currently in growth stage, and this listing will also add to our branding in addition to increasing our acceptability among dealers. While our products are approved by the regulator, the IPO will strengthen customer confidence."
The company generates its revenue by selling its products directly to the distributors who then continue the supply chain.
Zota has currently applied for patents of 19 unique formulations, from which it has been granted approvals for six formulations.
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