JFL Life Sciences Limited Files Prospectus with NSE EMERGE

New Delhi [India], Aug 17 (ANI/PNN): JFL Life Sciences Limited, engaged in the manufacture of pharmaceutical products with an experience of more than a decade, has filed the prospectus with NSE EMERGE to raise Rs 1,816.58 Lakhs through an initial public offering (IPO). The public issue of JFL Life Sciences Limited is for 29,78,000 shares of nominal value Rs 10 each (“PARTICIPATING SHARES”) in cash at a price of Rs 61/- per share (including a stock premium of Rs 51/- – per share) (the issue price) totaling Rs 1,816.58 LACS of the issue. 1,50,000 equity shares totaling Rs 91.50 Lakhs will be reserved for market makers (“Market Makers Reservation Part”). The issue, less the market maker reservation part, i.e. the issue of 28,28,000 shares with a par value of Rs 10/- EACH at an issue price of Rs 61/- – per share, totaling Rs 1,725.08 Lakhs, which is hereinafter referred to as “The Net Issue”. The issue and the net issue will respectively constitute 27.08% AND 25.71% of the post-issue paid-up share capital of the company. The company will be listed on NSE Emerge. The lead manager of the issue is GYR Capital Advisors Pvt Ltd and the registrar of the issue is KFin Technologies Ltd.

The company intends to use the proceeds of the issuance to achieve the following objectives: 1. Repayment of secured and unsecured loans

2. Financing of the working capital needs of the company 3. General corporate purpose

JFL Life Sciences Limited is engaged in the manufacture of pharmaceutical products. Their product portfolio includes dry powder injections (B-Lactam), tablets and capsules (B-Lactam) in solid oral dosage form and tablets and capsules (general) in solid oral dosage form and oral rehydration solutions (ORS). With a market presence all over India, JFL’s products supply to 10 developed and developing countries across the globe. To maintain competitiveness and advance the cause of healthcare, JFL has established a strong R&D base and state-of-the-art FDA-approved manufacturing facility near Ahmedabad. The company has registered its products for manufacturing in various countries like the ruler of Kenya, Nigeria, Yemen and Myanmar. Few of their products are also registered with Ukraine, Uzbekistan and Kazakhstan. This creates a moat around their business. This also makes it a “one-stop-shop” service provider to meet all customer needs, both domestically and internationally.

The promoters, Smiral Ashwinbhai Patel and Tejal Smiralbhai Patel are actively involved in the day to day operations of the company and are the driving force behind the company’s strategic decisions. Their management team and other key management personnel are well qualified and have extensive industry expertise, and have been responsible for operational growth. This story is provided by PNN. ANI will not be responsible for the content of this article. (ANI/PNN)

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

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