SAM, JSA Act on Veeda Clinical Research’s Proposed ₹185 Crore IPO

Veeda Clinical Research has refiled its draft red herring prospectus (DRHP) with SEBI for an IPO, which includes a fresh issue of shares worth ₹185 crore and an offer-for-sale of up to 13 million equity shares. The IPO has a face value of ₹2 per share. The company may also consider raising ₹37 crore in a pre-IPO placement round. Veeda intends to use the proceeds for equipment procurement, investment in its subsidiary Bioneeds India Private Ltd, debt payment, and funding organic growth. Axis Capital, CLSA India, IIFL Capital Services, and SBI Capital Markets are the book-running lead managers for the issue. JSA is assisting in the IPO.

Source: Bar and Bench