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SEBI approves GreenSignal Bio Pharma for IPO

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IPO consists of 38 per cent equity share capital

GreenSignal Bio Pharma Limited (GSBPL) has received market regulator SEBI’s approval recently for its proposed Initial Public Offering. The Public Offering comprises 1,45,79,560 equity shares of GSBPL representing 38 per cent of its equity share capital for cash through an offer for sale by the selling shareholders through the book building process. Indian Overseas Bank is the global co-ordinator and book running lead manager to the offer.

GSBPL manufactures the BCG vaccine against tuberculosis for new born children. It is WHO-prequalified to supply BCG vaccines to UNICEF. 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.

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