Incorporated in 1993, Syngene International Ltd is a subsidiary of Biocon Limited ("Biocon"), a global biopharmaceutical enterprise focused on delivering affordable formulations and compounds.
Headquartered in Bengaluru, Syngene International is India-based contract research organisations ("CRO"), offering a suite of integrated, end-to-end discovery and development services for novel molecular entities ("NMEs") across industrial sectors including pharmaceutical, biotechnology, agrochemicals, consumer health, animal health, cosmetic and nutrition companies. Their services in discovery and development cover multiple domains across small molecules, large molecules, antibody-drug conjugates ("ADC") and oligonucleotides.
Syngene offer customized models as per their clients requirements. These range from a full-time equivalent ("FTE") to a fee-for-service ("FFS") model, or a combination thereof. Till Dec 31, 2014, they serviced 195 clients, ranging from multinational corporations to start-ups, including seven of the top 10 global pharmaceutical companies by sales for 2014. Company's long term clients includes global healthcare organisations Bristol-Myers Squibb Co. ("BMS"), Abbott Laboratories (Singapore) Pte. Ltd. ("Abbott") and Baxter International Inc. ("Baxter").
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 To Meet Working Capital Requirement | ₹28 |
| 2 Public Issue Expenses | ₹4 |
| Metric | 31 Dec 14 | 31 Mar 14 | 31 Mar 13 |
|---|---|---|---|
| Revenue | 618 | 708 | 554 |
| PAT | 119 | 135 | 102 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 10,000,000 (45%) | — |
| NII / HNI | — | 3,000,000 (14%) | — |
| Retail (RII) | — | 7,000,000 (32%) | — |
| Total | — | 22,000,000 (100%) | — |
* Amount calculated at upper price band (₹250) · ** Total includes all investor categories
- Retail allocation is good at 32% of the total offering.
- HNI/NII demand is good at 14%.
- Institutional (QIB) interest is strong at 45%.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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