Syngene IPO

It looks quite attractive at first glance. This is what I read from an article in moneycontrol.com:

Syngene offers integrated drug discovery and development services with capabilities in medicinal chemistry, biology, in vivo pharmacology and toxicology. It has a research team of 2,300 scientists.

Surya Narayan Patra of Phillipcapital says Syngene has been delivering steady growth. "Over last three years, its earnings CAGR has been 35 percent and over five years it has been 42 percent." It also has capability both in customs synthesis as well as biologic services front.

Phillipcapital has valued Syngene at Rs 4800 crore based on FY17 earnings.

Meanwhile, in a press conference earlier today, Kiran Mazumdar Shaw, chairman and managing director, Biocon said, "Syngene will be one IPO that will deliver good shareholder returns."

Speaking to CNBC-TV18’s Archana Shukla she said: “I think when you look at getting to the market you have to look at your own business performance and we believe that Syngene has had a very stellar performance for the last five years and it has been able to sustain its performance.”

“It is very evident that Syngene is a front runner in terms of this particular space of research services not only in India but even across the globe. If look at Syngene’s comparative performance, its financials speak for themselves. From that point of view we felt that this was the right time.” she added.

Speaking on growth outlook Peter Bains CEO, Syngene said, “We have a pretty optimistic outlook in terms of growth when we look at the marketplace. We see growth in multinational R&D spend. It may be mid single digit 3-5 percent but it is of an enormous base of about USD 140 billion. We see a lot of investment coming into new start-up biotechnology companies.”

Read more at: https://www.moneycontrol.com/news/ipo-upcoming-issues/biocon-sets-price-band-for-syngene-ipo-at-rs-240-250sh_1989801.html