Intas Pharmaceuticals Ltd, the Indian drug manufacturer, has filed draft documents with the country's market regulator for an initial public offer. The said filing was confirmed by a source with direct knowledge on the transaction.
The initial public offer is projected to raise more than US$200 million.
The company manufactures drugs that are used in medical fields such as neurology, psychiatry and cardiology.
The lead managers for the IPO are Morgan Stanley and Kotal Mahindra Capital, according to statement issued by the company.
The IPO would sell equity shares at value of INR10 pus a share premium that would be determined at a later date. The aggregate value would be INR2,250 million for 11,621,100 equity shares from Mozart Ltd.
The issue is done through the process of book building, where no more than 50% of the shares would be allocated for Qualified Institutional Buyers. The company may allocate up to 30% of the QIB portion on a discretionary basis.
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