Claris Lifesciences IPO: Details about Claris Lifesciences IPO from VCCIRCLE

Carlyle-backed Claris Lifesciences is appearing to appreciation through Rs 300 crore over its maiden public float. As per VCCircle estimates, Carlyle ought to be sitting on as a good deal as 3x unrealised increments on its four-year-old speculative in the Ahmedabad-based drugmaker.

Carlye with First Carlyle Ventures III had invested $20 million (~Rs 90 crore) in Claris Lifesciences in March 2006, over preferential shares the represents 13.89% stake currently. Its normal price levels iof real estate deal functions out to be close to Rs 127 a piece.

Claris is yet to declare how a good deal equity it plans to dilute in the IPO, but assuming the promoters ought to similar to to keep up 75% stake in the association following the measure (the maximum allowed as against such a present invested in of 86%), it can merciless virtually 15% dilution in equity base within latest question of approximately 7.3 million shares. This might transform to an difficulty prices of to be had Rs 410 a share, in 3 times the be an investment of worth for Carlyle.

Claris plans to use IPO cash to set up a little new manufacturing lines while also repayment of Rs 50-crore run loan.

Carlyle’s purchase was to fund expansion in capacity, establishing new facilities, R&D and product development initiatives. The 10-year-old firm’s product basket includes the high-end substantial treatment segments these as clinical nutrition, anesthesia, blood products, plasma expanders, transplant, dialysis, anti-infectives, and cardiology.

For the year concluded December’09, Claris had net earning of Rs 621 crore amid net earning of Rs 125 crore. With 15% equity dilution, the organization can be coming across as at an EPS of out there Rs 21 on its FY’09 earnings give measure translating to a P/E a good amount of of right about 20 if the challenge rate is conclusion to Rs 410. This should put up it a cash in on cap of available Rs 2,395 crore or $540 million.

Some of the some the most recent investment opportunities of Carlyle in India store HDFC, Great Offshore and Allsec Technologies.