Bafna Pharmaceuticals Limited (Bafna) (Scrip Code: 532989),a multi-product pharmaceutical formulations company in diverse therapeutic segments, today listed on the BSE at Rs 43.80, as against its offer price of Rs 40 per share, at a premium of 9.50 per cent. The scrip closed at Rs 38.50 on the BSE.

The total trading volume on the BSE was 2,28,89,778 shares on the day of listing. It touched a high and low of Rs 47.20 and Rs 37.30, respectively, on the BSE.The company entered capital market with the initial public offering of 64,00,000 equity shares of Rs 10 each at a price of Rs 40 per equity share and it was subscribed 4.90 times.With this IPO, among other objectives, Bafna intended to register the Company, its products and create brand in international markets. Bafna also proposed to strengthen up R&D facility at its Grantlayon plant besides getting MHRA certification.

Recently, Bafna received Medicines and Health Care Products Regulatory Agency (MHRA) approval for its facility meant for exports to the UK markets and European Union.

This approval made Bafna’s entry into regulated markets of Europe and UK. Bafna thus has become only the 36th Company in the Indian Pharmaceuticals Industry (IPI) to receive MHRA approval. With this approval, Bafna Pharmaceuticals would be able to look at expanding not only to the European Union Market but even to other regulated markets.

The proposed issue was led managed by Keynote Corporate Services Limited and Co-led managed by Ashika Capital Limited. The Registrar to the issue was Cameo Corporate Services Limited.

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