Gujarat-based Cadila Pharmaceuticals is close to buying an European company that specialises in neurology and opthalmology medicines. The deal, said to be valued at $80 milllion (about Rs 320 crore), will be announced soon.
A Cadila executive said that the acquisition would enhance the company’s marketing capabilities in Europe. This will be Cadila’s second overseas facility. Last month, the company had invested $15 million (about Rs 60 crore) to set up a joint venture facility in Ethiopia.
As a part of its agressive growth plans, Cadila will develop a state-of-the-art medicine production facility at its pharma special economic zone (SEZ) coming up near Ahmedabad.
Read more in The Business Standard article.
Showing posts with label SEZ. Show all posts
Showing posts with label SEZ. Show all posts
Monday, October 15, 2007
Monday, July 23, 2007
Parsvnath may go public for SEZ funding
With the Centre’s nod for its bio-technology and pharma special economic zone (SEZ) in Hyderabad, the Delhi-based realty major Parsvnath Developers Ltd (PDL) is upbeat about its SEZ business.
The company has already set aside funds of around Rs 40,000 crore for at least 12 of its 15 proposed SEZs. However, the company is now mulling other options to fund the projects.
Although, PDL has a history of funding its projects mostly through internal accruals, its managing director Sanjeev Jain doesn’t rule out the possibility of getting PDL’s subsidiary Parsvnath SEZ listed to fund the SEZ projects.
Parsvnath has received a formal approval for four of its SEZs and in-principle approval to other eight. Apart from the Kancheepuram multi-product SEZ, all other SEZs would be product-specific.
Read more in The Business Standard article.
The company has already set aside funds of around Rs 40,000 crore for at least 12 of its 15 proposed SEZs. However, the company is now mulling other options to fund the projects.
Although, PDL has a history of funding its projects mostly through internal accruals, its managing director Sanjeev Jain doesn’t rule out the possibility of getting PDL’s subsidiary Parsvnath SEZ listed to fund the SEZ projects.
Parsvnath has received a formal approval for four of its SEZs and in-principle approval to other eight. Apart from the Kancheepuram multi-product SEZ, all other SEZs would be product-specific.
Read more in The Business Standard article.
Tuesday, June 5, 2007
Nitin Fire lists with 75 pc premium on BSE
Nitin Fire Protection Industries (NFPIL) today debuted on the Bombay Stock Exchange at Rs 332.50, a premium of 75 per cent over its issue price of Rs 190.Within minutes of listing the scrip touched a high of Rs 483 and over 18.78 lakh shares exchanged hands on the bourse.The shares were trading at Rs 457.10 at 10.21 am on BSE.
Nitin Fire entered the bourses with over 1.26 crore equity shares and proposes to utilise the proceeds of the issue to fund its expansion plans at Visakhapatnam Special Economic Zone (SEZ).
The company is setting up a second cylinder plant in the SEZ as most of the construction material is being imported. The unit will also benefit from duty-free supply of fuels in the zone, NFPIL Director G K Shahi had said while announcing the IPO.The plant's first phase to produce 2.5 lakh cylinders has begun production.
Nitin Fire entered the bourses with over 1.26 crore equity shares and proposes to utilise the proceeds of the issue to fund its expansion plans at Visakhapatnam Special Economic Zone (SEZ).
The company is setting up a second cylinder plant in the SEZ as most of the construction material is being imported. The unit will also benefit from duty-free supply of fuels in the zone, NFPIL Director G K Shahi had said while announcing the IPO.The plant's first phase to produce 2.5 lakh cylinders has begun production.
Monday, April 9, 2007
Royal Palms plans Rs600cr IT SEZ spend
Real estate and hotels major Royal Palms will invest around Rs 600 crore to set up an IT/ITeS special economic zone (SEZ) in Mumbai that would be ready for occupation by end of next year. The company intends to develop the SEZ on a 26-acre land and would rent the space to 15-20 large and a host of small software firms.
The company has received both Central Government and state government (empowered Group of Ministers) approvals for the IT SEZ, and is awaiting Development Commissioner’s approval to commence work. Mumbai-based Hiranandani Builders had also sought approvals for setting up an SEZ for software and is awaiting a notification (approval under SEZ Act).
Royal Palms is planning to build the SEZ under two phases, with a development of around 10 lakh square feet in the first phase and similar area in the second phase. Upon completion, it would be offered on rent to software companies.
Around 70 per cent of the total investment would be raised from internal accruals and promoter’s stake, and the remaining through debt.
Read more in The Business Standard article.
The company has received both Central Government and state government (empowered Group of Ministers) approvals for the IT SEZ, and is awaiting Development Commissioner’s approval to commence work. Mumbai-based Hiranandani Builders had also sought approvals for setting up an SEZ for software and is awaiting a notification (approval under SEZ Act).
Royal Palms is planning to build the SEZ under two phases, with a development of around 10 lakh square feet in the first phase and similar area in the second phase. Upon completion, it would be offered on rent to software companies.
Around 70 per cent of the total investment would be raised from internal accruals and promoter’s stake, and the remaining through debt.
Read more in The Business Standard article.
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