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21 October, 2017 21:33 IST
Zota Health Care becomes biggest IPO till date on NSE emerge
Source: IRIS | 05 May, 2017, 08.46AM
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Zota Health Care turned out to be the biggest IPO till date on SME Bourses with a public offering of Rs 585.0 million. IPO opened for subscription on April 27, 2017 and closed on May 2, 2017; garnering whooping subscription of more than Rs 9.30 billion. Heavy retail participation with retail category being subscribed more than 26 times. Highest number of applications received by an SME IPO till date.

The company has proposed IPO of 46,80,000 equity shares of which 31,80,000 Equity Shares were offered as fresh issue and 15,00,000 Equity shares were offered for sale by the promoter and promoter group selling shareholders.

The Issue constitutes 26.68% of the post issue paid up equity share capital of the Company. The proceeds from the fresh issues are proposed to be utilized towards repayment of debt, working capital and general corporate purposes.

The issue witnessed participation from various categories of investors procuring over-subscription of 16 times and garnered more than Rs. 930 Crores. The issue received heavy participation from various categories of investors. Interestingly, retail category was subscribed more than 26 times. HNI category was subscribed for more than 7 times. The IPO also witnessed the highest number of applications ever received by an SME IPO.

Himanshu Zota, Director, Zota Health Care said, ''Our Company has gone public majorly to achieve funds to finance expansion of a company and enhance our visibility in domestic and international markets. Being in a growth stage and looking for rapid expansion, getting listed enabled us to achieve funds for our future endeavors. I would like to thank all the investors who have subscribed for the IPO. Funds achieved by the SME IPO will be used towards expanding our manufacturing and production set up and reach out to more dealers.''

Zota Health Care, is a well-known group in the genre of manufacturing and marketing quality medicines since 2000 with an ambition to provide quality and affordable medicines to India's masses.

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