Plethico Pharmaceuticals files Draft Red Herring Prospectus with SEBI for IPO
Plethico Pharmaceuticals Ltd. (Plethico), one of India's fastest growing pharmaceutical companies having global presence, today filed its Draft Red Herring Prospectus (DRHP) for its forthcoming Initial Public Offer ( IPO) with SEBI today. The IPO is to raise Rs. 110 crore. Plethico will list the equity shares through a 100% book-building offer on The Bombay Stock Exchange Ltd., and The National Stock Exchange of India Ltd.
Commenting on the filing for the IPO, Shashikant Patel, Chairman & Managing Director said, "This is indeed a monumental day for all of us at Plethico. From inception we have been a formulation manufacturer, always believing in innovation. We pioneered introduction of Doxycycline based unique anti-biotic formulation. We also introduced for the first time in India, novel ayurvedic / herbal preparation under the brand name - Syndrex and also launched other products like Octogen, Previl, etc. We were one of the first to launch allopathic combipacks, kit packs and bi-layer tablets. Keeping with this spirit, we diverted our attention from the local ethical market to the lucrative OTC market in India and took a quantum jump on our operations on the export front. Our motto is 'Pledged to Ethics' and we strongly believe that this IPO will enable others to participate in our success story."
Plethico has chosen the path of being a multi-product company, with a large global presence and has the following product range: Ethical and Generic Pharmaceutical Formulations, Food Supplements and Herbal Formulations, Consumer Healthcare Products and Nutraceuticals, Disposables and Hospitals Consumables, Veterinary Products. It has more than 400 formulations in more than 39 therapeutic segments.