Aster Silicates, Parabolic Drugs Grey Market Premiums

Parabolic Drugs Ltd.	75 to 85	Discount
Aster Silicates Ltd.	112 to 118	2 to 2.50

Parabolic Drugs IPO fully bid

Receives bids for 2.68 crore shares

The initial public offer of Parabolic Drugs was subscribed 1.01 times on the last day of the issue on Thursday, 17 June 2010. By 16:00 IST, the IPO received bids for 2.68 crore shares as compared to 2.66 crore shares on offer. The price band of the IPO was set at Rs 75-85 per share.

Parabolic Drugs Grey Market Premium slips into discount

Parabolic Drugs Ltd.


75 to 85


Discount

Parabolic Drugs Grey Market Premium

Parabolic Drugs Ltd.


80 to 90


2 to 3

Parabolic Drugs IPO Review

Investments can be avoided in the initial public offering of Parabolic Drugs, which is engaged in the manufacturing and contract manufacturing of active pharmaceutical ingredients (API), and API intermediates for domestic and export markets. At the price band of Rs 75-85, the offer is priced at 14-15 times its likely FY-11 per share earnings on a post-offer equity base.

Parabolic Drugs IPO Analysis

Seeks parabolic pricing for entering in to CRAMS business

Focused on manufacturing APIs for domestic and international markets

Incorporated in 1996, Parabolic Drugs (PDL) was promoted by Pranav Gupta and Vineet Gupta. The company is into manufacturing APIs (active pharma ingredients) and API intermediates of Semi Synthetic Penicillin's (SSPs) and Cephalosporins for both domestic and international markets, including regulated markets. Currently, PDL has a portfolio of 44 APIs and 7 API intermediates, which are marketed over 45 countries. The company has two manufacturing facilities at Derabassi, Punjab, and Panchkula, Harayana, and two R & D facilities at Derabassi, Punjab, and Barwala, Harayana.