Draft red herring prospectus filed on March 3rd, 2006

Parabolic Drugs Limited is planning to offer 25,00,000 shares to the public in its maiden public offer expected in April/May 2006. In this regard the company filed a draft prospectus with SEBI on February 27, 2006. The funds from the issue will be used to fund the expansion plans of PDL which include setting up a sterile facility at its Derabassi site and a new dosage facility at Baddi, Himachal Pradesh.