Parabolic Drugs fixes IPO price at Rs 75 per share

MUMBAI: Chandigarh based manufacturer of APIs and API intermediates, Parabolic Dugs has the fixed the issue price of its initial public offer at lower end of the price band at Rs 75 per share.

Parabolic Drugs entered the capital markets with the Rs 200 crore IPO. The issue also comprises of an offer for sale of 20,25,702 equity shares by BTS India Private Equity Fund and Alden Global (Mauritius).

Of the total net proceeds, the company will use Rs 115.5 crore for funding its capital expenditure and Rs 39 crore for repayment of loans.