IPO Update - Claris Lifesciences Ltd (Revised) : SHAREKHAN


Claris Lifesciences Ltd
Price band (Revised): Rs 228 to Rs 235
Issue opens on: November 24, 2010 | Issue closes on (Revised): December 2, 2010
Issue opens on: November 24, 2010
Issue closes on (Revised): December 2 , 2010
Lot size: 22 shares and in multiples of 22 shares thereafter
Revised Price band: Rs228 - Rs235
Issue size: Rs 300 crore

Issue highlights (source: BRLM/RHP)

  • Claris Lifesciences Ltd (CLL), is one of the largest Indian pharmaceutical companies catering to the niche segment of sterile injectables.

  • CLL has presence across 76 countries and achieved approximately 1,100 product registrations worldwide with 332 pending approval.

  • CLL has been successful in garnering approvals from foreign regulatory authorities which include USFDA, MHRA (UK), TGA (Australia) and GCC FDCA.

  • The Key products of CLL such as propofol, iron sucrose, hydroxyl ethyl starch, ciprofloxacin and metronidazole have large markets worldwide with very little competition for CLL on these products due to the company's complex manufacturing process.

  • CLL believes it is the sole company in India that possesses the technology to produce unibag non-PVC infusion system. Thus, the company plans to leverage this expertise and competitive advantage by aggressively marketing these drugs and gain a strong foothold in the global markets.

  • Its business arrangement with pharmaceutical behemoth Pfizer Inc. with a view to expanding its business in the USA and the other regulated markets will significantly augment revenues and bottom line with higher product and facility approvals from the USFDA and other regulatory bodies.

  • Its shareholders includes renowned private equity player Carlyle PE, which invested Rs90.5 crore in it in March 2006 for a 13.9% stake.

  • Financial Performance: Total sales grew at a compounded annual growth rate (CAGR) of 29%, its earnings before interest, tax, depreciation and amortisation grew at a CAGR of 59% and its net profit increased at 65% over FY2005-09.


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