New Delhi, March 20 -- Pharma company Speciality Medicines launched its initial public offering (IPO) on BSE SME today, March 20. The Rs.29-crore public offering is available for bidding till Tuesday, March 24.

Speciality Medicines IPO is entirely a fresh issue of 0.24 crore shares, with no offer for sale component. This means all proceeds will be received by the company. The IPO is priced in the range of Rs.117 to Rs.124 apiece.

The company plans to use Rs.12.68 crore from the funds raised for setting up an R&D centre, Rs.2.99 crore for product registration and sale in international markets, and Rs.1.66 crore will be spent on marketing and promotional activities. Lastly, Rs.8 crore will be deployed to meet working capital needs and the...