Elder Pharma Plans To Raise $50 Mn QIP
Elder Pharmaceuticals is planning to raise $50 Mn through QIP.
Part of the fund raised will be utilised to repay its debt which stands at around Rs.500 crore, while the balance will be used to complete projects at its R&D facility in Vashi, Maharashtra.
Transaction Reference: ET
Elder Pharma has presence in therapeutic segments like women's healthcare, wound care and pain management, nutraceuticals, anti-infective and lifestyle disease care. It has a judicious mix of drug formulations, in-licensed manufacturing and APIs. It has 6 manufacturing plants in India located in Maharashtra, Uttarakhand & Himachal Pradesh. It has an R&D Centre at Navi Mumbai which is recognized by the Department of Scientific & Industrial Research, Ministry of Science & Technology.
During 2009-10, the consolidated Income from Operations stood at Rs.720.87 crore for 2009-10 with the consolidated net profit at Rs. 49.82 Crore.
In the pharma and healthcare space, there has been some fund raising activities this year. Warburg Pincus invested $85 Mn in Metropolis Healthcare LTd, Fortis Healthcare raised $83.5 Mn from GIC, Singapore, Jubilant Organosys raised $85 Mn through QIP, etc. Actis Biologics is also planning to raise upto Rs.100 Cr through PE.
Jupiter Bioscience Ltd is raising $25 Mn through GDR issue to fund its expansion plans, while Birla Pacific Medspa, part of Yash Birla Group has filed DRHP with SEBI to raise Rs.65.17 Cr through IPO.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 24/09/10 | Elder Pharma - QIP | IPO / Offerings | 51.46 | |
| 21/03/07 | Elder Pharmaceuticals - Acraf SpA | M&A | Acraf SpA | - |
| 27/11/06 | Elder Pharmaceuticals - Citi Venture Capital PIPE3 | Private Equity | Citi Venture Capital International | - |
| 24/05/05 | Elder Pharmaceuticals - Citi Venture Capital PIPE2 | Private Equity | Citi Venture Capital International | - |
| 28/01/05 | Elder Pharmaceuticals - Citi Venture Capital PIPE1 | Private Equity | Citi Venture Capital International | 5.80 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 07/02/12 | M&A | Daiichi Sankyo | Looking For | - | Planned |
| 02/02/12 | M&A | Aanjaneya Lifecare Limited | Apex Drugs And Intermediates Limited | 51.05 | Completed |
| 25/01/12 | M&A | Jubilant Life Sciences Limited | Vanthys Pharmaceuticals Development Private Limited | - | Planned |
| 24/01/12 | M&A | Watson Pharmaceuticals Inc | Ascent Pharmahealth Limited | 395.61 | Completed |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Elder Pharmaceuticals Limited | Indarts Exports Private Limited Semit Pharmaceuticals & Chemicals Private Limited Akshaya Holdings Private Limited Elder Projects Limited Jagdish K Saxena & Family |
Elder House,Plot No.C9, Dalia Industrial Estate, Off Veera Desai Road, Andheri-(West), Mumbai-400058. |
Ranbaxy Laboratories Limited Cipla Limited Lupin Limited |
www.elderindia.com |
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