Ind-Swift Lab To Raise Rs 5oo Cr
Ind-Swift Laboratories Limited (ISLL) is raising funds upto Rs.500 crore either through GDR / FCCB / QIP to fund its expansion plans.
Its board of directors has decided to increase its authorized share capital from Rs.35 Cr to Rs.60 Cr.
Transaction Reference: Myiris
Chandigarh-based Ind-Swift Laboratories, a part of the Ind-Swift group is involved in the manufacturing of APIs and advanced intermediates. It has been promoted by Ind-Swift Limited in joint venture with the Punjab State Industrial Development Corporation Limited (PSIDC).
Its manufacturing facilities of the company are located at Dera Bassi (Punjab) and Jammu (Jammu & Kashmir). ISLL also has an independent R&D facility located at Mohali (Punjab).
It is planning to expand its presence in US, EU, Australia, and New Zealand and is focusing on getting its manufacturing plant approved by regulatory agencies like USFDA, TGA and MCA.
N R Munjal was appointed as the Managing Director of the company after the demise of V K Mehta in March this year.
Its revenue accrues from more than 50 locations around the globe. Its net profit rose by 45.66% to Rs.57.96 crore in 2009-10 as against Rs.39.79 crore during 2008-09. Sales rose by 33.23% to Rs.775.23 crore in 2009-10 as against Rs.581.88 crore during 2008-09.
For Q1 FY 2011, it reported a net profit of Rs.14.86 crore on sales of Rs.199.40 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.
Elder Pharmaceuticals has planned to raise $50 Mn through QIP, Jupiter Bioscience has planned to raise $25 Mn through GDR issue to fund its expansion plans, while Birla Pacific Medspa, part of Yash Birla Group has filed DRHP with SEBI to raise Rs.65.17 Cr through IPO.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 07/09/10 | Ind-Swift Laboratories - Fund Raising | IPO / Offerings | 106.73 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 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 |
| 20/01/12 | M&A | Lipoxen Plc | - | Planned |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Ind Swift Laboratories Limited | Ind Swift Limited Punjab State Industrial Development Corporation Limited |
S.C.O. 850, Shivalik Enclave, Manimajra Chandigarh-160101. Punjab, India. |
Ankur Drugs and Pharma Limited Orchid Chemicals and Pharmaceuticals Limited |
http://www.indswiftlabs.com |
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