Saamya Biotech debuts at 75% premium

Company Brief

New Delhi, October 19, 2007

Hyderabad based Saamya Biotech (India) Limited, a 100% EOU, was listed this morning at Rs.17.50 on BSE, commanding a premium of 75% over the issue price of Rs.10 each. During intra-day trade the equity shot up to Rs.24.35 before closing for the day at Rs.15.30 with a total volume of over 30 million equity shares. The company had entered the capital markets on 25th September 2007 with a public issue of 15m equity share of Rs.10 each aggregating Rs.15 crores. UTI Securities Ltd was the Lead Manager for the issue.

Saamya Biotech proposes to utilize the net proceeds of the issue to part finance its plan of setting up a manufacturing facility, including Research and Development and Pilot Plant facility for high value active Bio-Pharmaceutical ingredients with an investment of Rs 28.08 crores. The plant being set up at Shapoorji Pallonji Biotech Park in Andhra Pradesh proposes to produce bio-pharma ingredients such as Daunomycin and Hyaluronic Acid – Pharma Grade and Cosmetic Grade.

Saamya Biotech has entered into an agreement for technology transfer with Biofin Laboratories s.r.l, Italy to manufacture the Daunomycin and Hyaluronic products. The Company has also entered into an agreement with Finchimica, Spa, Italy, for 100% sale of its entire production. Finchimica is a manufacturer and trader of biotechnology products in the international market.

The detailed engineering of the plant is being done by Shapoorji Pallonji & Company Ltd., Mumbai (SPCL), who are associated with O'Brien / Atkins (Biotech Architects), Jacobs H & G Ltd., (Formerly Humphrey's and Glasgow) for detailed engineering.

Talking about the future prospects for the company, Dr. Y. Manivardhan Reddy, Managing Director, said `` We are a first generation Biotechnology Company in Hyderabad with the aim to manufacture and market high value biopharmaceuticals and recombinant protein products of medical significance. Our Company is continuously working on effective strategies for the production and supply of both bulk and formulations with special focus on life saving drug entities at affordable price.'' The Company is backed by business houses - Visu International Ltd., Visglo Impex etc., scientists and technocrats in the field of biotechnology, he added.

For Further Information:

Poonam Mathur

Concept PR

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