Key Points of SPC Life Science IPO Papers Filing with SEBI:
- SPC Life Science Ltd plans to conduct an initial public offering (IPO) to raise funds, with a target of up to Rs 300 crore.
- The IPO will involve issuing fresh shares and selling up to 8.94 million shares owned by the company’s current promoter, Snehal Ravjibhai Patel.
- The funds raised will be used for debt repayment, working capital requirements, and capital expenditure for the expansion of Phase 2 at the company’s Dahej facility.
- SPC Life Science Ltd is a leading Indian manufacturer of advanced intermediates used in the production of active pharmaceutical ingredients (APIs), with a focus on research and development in selected therapeutic areas.
- In FY22, the company saw an increase in revenue, net profit, and EBITDA margin expansion.
- The company recently commissioned the first phase of its new manufacturing site at Dahej, Gujarat, which includes an automated manufacturing block, storage facilities, a quality control lab, and administrative facilities.
- The lead managers of the IPO are Ambit Pvt Ltd and HDFC Bank.
Details of SPC Life Science IPO Papers Filing with SEBI:
SPC Life Science Ltd has recently filed preliminary documents with the Securities Exchange Board of India for an initial public offering to raise funds. The company plans to gather up to Rs 300 crore by issuing fresh shares and offering up to 8.94 million shares for sale by its current promoter, Snehal Ravjibhai Patel. The promoter currently holds a 98.18 percent stake in the company.
The funds raised from the fresh issue, which amount to Rs 55 crore, will be primarily utilized for debt repayment. Additionally, Rs 40 crore will be allocated towards meeting the company’s working capital requirements. SPC Life Science Ltd also plans to use Rs 122.33 crore for capital expenditure, which will involve setting up Phase 2 at its Dahej Facility. This expansion will enable the manufacturing of xanthene derivatives, as well as other intermediates and KSMs for APIs in the anti-depressant and anti-psychotic therapeutic segments.
Previously, SPC Life Science Ltd operated four manufacturing blocks at a single location in Ankleshwar, Gujarat. However, in March 2023, the company successfully commissioned the first phase of its new manufacturing site located at Dahej, Gujarat. The new facility includes an automated manufacturing block, storage facilities, a quality control lab, and administrative facilities.
Ambit Pvt Ltd and HDFC Bank are the lead managers of the issue.
SPC Life Science Ltd is a leading Indian manufacturer of advanced intermediates used in the production of active pharmaceutical ingredients (APIs). The company has successfully developed and commercialized over 50 Pharma Intermediates for APIs in 11 different therapeutic areas, with a strong emphasis on research and development in selected therapeutic areas such as hemorheological cardiovascular, anti-arrhythmic cardiovascular, anti-platelet vasodilators, anti-psychotic and anti-depressants, and analgesics.
In the fiscal year 2021-2022, the company’s revenue increased to Rs 145.64 crore from Rs 132.95 crore the previous year. Net profit for the period also rose to Rs 19.23 crore from Rs 16.67 crore. The company’s EBITDA margin expanded from 16.96 percent in the previous year to 20.62 percent in FY22. As of September 2022, the company’s total debt stood at Rs 60.61 crore.
About SPC Life Science:
SPC Lifesciences, founded in 2005 in Gujarat, India, is a knowledge-driven, integrated chemical company. We offer basic and advanced intermediates, key starting materials, and custom APIs. Though we began as a single-product company, we have now become a leader in various KSMs and APIs and are fully equipped to tackle complex chemistries across multiple sites.
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