Parabolic Drugs IPO
Parabolic Drugs IPO — date, price band, lot size & details 2010
Parabolic Drugs listed on 1 Jul 2010 at ₹75, flat to the ₹75 issue price.
Parabolic Drugs makes active pharmaceutical ingredients (APIs) and API intermediates, mainly SSP and cephalosporin antibiotics, for India and export. Its total income was Rs 396.94 crore in FY2009.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 14 Jun 2010
- Close 17 Jun 2010
- Allotment 25 Jun 2010
- Refund/credit TBA
- Listing 01 Jul 2010
Issue summary
The terms of the offer, as filed.
| IPO Dates | 14 to 17 Jun, 2010 |
|---|---|
| Price Band | ₹75 – ₹85 |
| Face Value | ₹10 |
| Lot Size | 80 Shares |
| Issue Size | ₹200 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 6,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 80 shares at the ₹75 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 80 | ₹6,000 |
| Retail (max) | 33 | 2,640 | ₹1,98,000 |
| S-HNI (min) | 34 | 2,720 | ₹2,04,000 |
| S-HNI (max) | 166 | 13,280 | ₹9,96,000 |
| B-HNI (min) | 167 | 13,360 | ₹10,02,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 150.56 crore in FY2007 to Rs 396.94 crore in FY2009.
- 02Its portfolio covered 42 APIs and 7 API intermediates.
- 03EBITDA rose from Rs 22.99 crore in FY2007 to Rs 61.84 crore in FY2009.
- 04Rs 32.55 crore of the issue was for a sterile cephalosporin plant at Derabassi.
Risks · 5
- 01Total borrowing rose from Rs 69.66 crore in FY2007 to Rs 367.68 crore on 31 December 2009, more than three times its net worth.
- 02Profit after tax fell from Rs 29.67 crore in FY2008 to Rs 21.09 crore in FY2009.
- 03Its products are concentrated in antibiotics, so pricing pressure in this segment hits margins; total income was Rs 350.16 crore in nine months to December 2009.
- 04The issue was priced at Rs 75, the bottom of its price band.
- 05Promoter holding fell from 63.21% before the issue to 38.04% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Parabolic Drugs offer document.
| Metric | 31 Dec 2009 | 31 Mar 2009 | 31 Mar 2008 | 31 Mar 2007 |
|---|---|---|---|---|
| Assets | 608.92 | 491.00 | 285.58 | 143.65 |
| Total Income | 350.16 | 396.94 | 273.94 | 150.56 |
| Profit After Tax | 21.41 | 21.09 | 29.67 | 13.59 |
| EBITDA | 62.67 | 61.84 | 43.90 | 22.99 |
| NET Worth | 111.71 | 105.66 | 62.31 | 32.59 |
| Reserves and Surplus | 111.45 | 91.13 | 68.37 | 29.16 |
| Total Borrowing | 367.68 | 264.03 | 159.42 | 69.66 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Parabolic Drugs RHP.
Where the money goes
₹171.96 Cr of the issue is earmarked to named objects.
About the company
It makes APIs and API intermediates, including contract manufacturing, for the domestic market and for export, including regulated markets. It produces the SSP and cephalosporin range of antibiotics in oral and sterile form.
Its portfolio covered 42 APIs and 7 API intermediates, made at its plants at Derabassi in Punjab and Panchkula in Haryana.
The IPO was Rs 200 crore, with Rs 184.81 crore of fresh issue and Rs 15.19 crore of offer for sale by investors, priced at Rs 75, the bottom of the Rs 75 to Rs 85 band. The fresh money was for new plants, investment in a subsidiary and repaying loans.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Parabolic Drugs IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
ICICI Securities
221 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Bannari Amman Spinning Mills (-25.2%).
SPA Capital Advisors Ltd
4 issues handledBest listing: SRS (+17.2%). Weakest: Cantabil Retail India (-15.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Parabolic Drugs?
The current Grey Market Premium is ₹0.
What is the Parabolic Drugs IPO price band?
₹75 to ₹85, on a face value of ₹10.
When is the allotment?
The basis of allotment is 25 June 2010, with listing on 1 July 2010.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
