The IPO of an Ahmedabad based pharmaceutical company, Claris Lifesciences will hit the market on Nov 24, 2010. It fixed price band at Rs 278 to 293. It will close on Nov 26, 2010.
IPO of Claris Life Sciences Ltd. provides an opportunity to invest in altogether different business model in pharmaceutical sector. It has well diversified injectable product portfolio, one of the largest in the country. On the profitability front, low competition augurs well for the margins. The company recently entered into a contract with Pfizer Inc with a view to tap the potential in United States and other regulated markets by expanding sales and distribution network. Further the company has certain technical advantages that make it highly competitive among its peers. At the higher side of the price band, the issue is available at a significant discount to traded peers.
We recommend subscribe to the issue with long term investment horizon.
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