Pharmaceutical major GreenSignal Bio Pharma Ltd, manufacturers of BCG vaccine, has filed the Draft Red Herring Prospectus with Securities and Exchange Board of India for its proposed public offer.
The city-based company had selected public sector Indian Overseas Bank as its lead manager and to be global coordinator. Bigshare Services would be the Registrar for the proposed offer, a company statement said.
The offer for sale would constitute about 1,45,79,560 shares of face value of Rs 10 each at premium to be decided through the book building process and shall be offered to the existing shareholders comprising 38 per cent of paid-up capital of GSBPL.
The company manufactures BCG vaccine for protection against tuberculosis. In 2015, 24 million children below the age of one were administered BCG vaccine, it said.
For the financial year ending March 31, 2016, the company had posted total revenues of Rs 20.49 crore with profit after tax of Rs 5.30 crore.
The company has order pipeline of 84 lakh vials to be executed in the next two years. It also exports to 17 countries, it added.