Saamya Biotech IPO : Saamya Biotech IPO opens on Sept 25

Hyderabad based Saamya Biotech India Ltd manufacturer of Biotech products is coming out with an IPO of 15 lakh shares of Rs 10 each totalling to 15 crore. Saamya Bio IPO will open for subscription on September 25 and will close on September 28, 2007.

Saamya Biotech India was set up in August 2002 as a 100% Export Oriented Unit and the company deals in various chemicals , pharmaceuticals drugs and intermediaries.

The management of Saamya Biotech has said they will have revenues from financial year 08 onwards and it has total assets of Rs 9.19 crore and networth of Rs 8.66 crore.

Saamya Biotech intends to use the money raised from the IPOe for setting up manufacturing facilities including R&D, pilot facility and to meet margin money for working capital.