Chennai, 15th September, 2016: GreenSignal Bio Pharma Limited (GSBPL) has received market regulator SEBI’s approval for its proposed Initial Public Offering – Offer for Sale on
September 9, 2016 as per the latest update.
The Public Offering comprises 1,45,79,560 equity shares of GSBPL representing 38% of its equity share capital for cash through an Offer for Sale by the selling shareholders through the Book Building process.
GSBPL manufactures the BCG vaccine against tuberculosis for new born children. It is one of the four companies worldwide who have been WHO-prequalified to supply BCG vaccines to UNICEF; there has been insufficient supply of BCG vaccines globally with a deficit of approx. 1.5 million doses each year.
The company has established itself in the Indian vaccine market and its products are also exported to 17 countries either directly through UNICEF or indirectly through other arrangements.
Indian Overseas Bank is the Global Co-ordinator and Book Running Lead Manager to the Offer.