Ahmedabad based Claris Lifesciences is likely to launch an initial public
offer (IPO) to raise Rs 300 crore to fund its expansion plans.
The issue proceeds are likely to be used for setting up a new manufacturing
plant, installing a new manufacturing line in the existing plant, establishment
of a new research & development centre in the existing manufacturing facilities
and prepayment of an identified term loan. It has a five manufacturing
facilities spread over a 78-acre campus located in Ahmedabad in Gujarat.
The lead managers for the IPO are Enam Securities, Edelweiss Capital, JM
Financial Consultants, ICICI Securities and the Registrar to the issue is Link
Intime India.