The Securities and Exchange Board of India (SEBI) has returned the IPO document of Gujarat-based chemical manufacturing company Anlon Healthcare for its proposed initial public offering (IPO). The company filed its IPO papers on October 11, aiming to raise funds through a fresh issue of 1.4 crore equity shares, without any offer-for-sale component.
Anlon Healthcare plans to use the proceeds from the IPO for a range of strategic purposes. A total of ₹30.7 crore is earmarked for expanding its manufacturing facility, while ₹5 crore will be allocated for debt repayment. Additionally, ₹35.98 crore will be utilised to meet the company’s working capital requirements. The remaining funds will be directed toward potential acquisitions and general corporate expenses.
The Gujarat-based company operates a single manufacturing facility along with four R&D laboratories. Promoted by Punitkumar Rasadia and Meet Atulkumar Vachhani, the two promoters collectively hold a 70.26% stake in the company. The remaining 29.74% stake is owned by public shareholders.
Anlon Healthcare is involved in the manufacturing of advanced pharmaceutical intermediates, which are raw materials for producing active pharmaceutical ingredients (APIs). These APIs are critical components in pharmaceutical formulations, including tablets, capsules, ointments, and syrups. The company also caters to nutraceutical formulations, personal care products, and animal health products.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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