Bafna Pharmaceuticals Limited IPO

Incorporated in 1995, Bafna Pharmaceuticals Limited is engaged in the business of manufacturing pharmaceutical formulations of Betalactum and Non Betalactum products. The Company manufactures 126 formulations under various therapeutic segments, such as anti-infective, cholesterol lowering agents, analgesic and antipyretic, antihelmintics, appetite stimulants, cough and cold preparations, antiulcerants anti diabetic, and vitamins.

In 2006, Bafna has set up an 100% EOU unit at Madhavaram for the production of tablets and capsule with a capacity of 6973.20 lacs and 2462.40 lacs. The unit has been WHO GMP certified and also ISO 9000 certified. The products manufactured in this factory caters to the markets of Srilanka, Ghana and Ukraine. Bafna was involved in the execution of contracts for the generic division of M/s. Croslands from the period 1994 to 2001. Bafna was awarded the WHO GMP certification during the year 1995. Presently around 57 products of the company are registered in Srilanka, 4 products in Ukraine, 1 product in Ghana. The company received the Best Supplier award from the Srilankan Government during 2005.

The present installed capacity of different categories of products manufactured by Bafna are:

Products	Installed capacity on one shift basis Madhavaram unit	Installed capacity on one shift basis Madhavaram EOU unit	Installed capacity on one shift basis Grantlyon unit
Tablets	8344.30 lacs	6973.20 lacs	7195.00 lacs
Capsules	2737.70 lacs	2462.40 lacs	2250.00 lacs
Oral syrups	417600 Litres	-	-

Objects of the Issue:

The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital:
1. To undertake Brand Building exercise in domestic & international markets;
2. To part finance the cost of obtaining MHRA approval for Grantlyon unit;
3. To set up a Research & Development unit at Grantlyon;
4. To repay high cost debt;
5. To meet the working capital requirement;
6. To meet expenses of the Issue in order to achieve the benefits of listing on the Stock Exchanges;
7. General corporate purposes.

Bafna Pharmaceuticals Ltd IPO Information

»» Public Issue Open: May 27, 2008 to May 30, 2008
»» Public Issue Type: Fixed price
»» Public Issue Size: 64,00,000 Equity Shares of Rs. 10/-
»» Face Value: Rs. 10/-
»» Public Issue Price: Rs 40/-
»» Maximum Subscription Amount for Retail Investor: Rs 100,000/-
»» Listing: BSE
»» Lead Manager: Keynote Corporate Services Ltd, Ashika Capital Ltd
»» Registrar: Cameo Corporate Services Ltd (Ph: +91-44-28460390 Email: cameo@cameoindia.com)