Sunday, October 25, 2009

Astec LifeSciences Ltd IPO Opening on Oct 29 to Nov 04

The initial public offering (IPO) of Astec LifeSciences Ltd will hit the market between October 29, 2009 to November 04, 2009. Astec LifeSciences Limited is engaged in business of Agrochemicals and Pharmaceuticals.

Astec has multipurpose production facilities at 2 locations. One unit is in Dombivli (50km from Mumbai) and 2 units are in Mahad ( 180 kms from Mumbai). Astec started it's first manufacturing unit in August 1994 in Dombivli, Maharashtra having an installed capacity of 120 MT. In the year of 2002, Astec entered into an agreement with Behram Chemicals Private Limited for using and operating their manufacturing facilities located at Mahad Industrial Area, Maharashtra. During 2003-04 company expanded the total installed capacity of their units (Dombivli and Mahad) from 250 MT to 500 MT.

Astec is entering in the capital markets with an initial public offering, IPO of 7,500,000 Equity Shares for cash, at a premium to be decided through a 100% Book Built Issue. The price band for the issue has been fixed at Rs 77/- at lower level and Rs 82/- at upper level for equity share of Rs 10/-. CARE has assigned an IPO Grade 2 to Astec LifeSciences Limited IPO. This means as per CARE, company has below average fundamentals.

Detailed information is now available on Astec LifeSciences Ltd IPO information page.

Important Links:

Astec LifeSciences Ltd IPO
Astec LifeSciences IPO Allotment Status
Astec IPO Listing Date