BIOCON TO LAUNCH HELIX FOR BULK PHARMA ACTIVITIES
Article Abstract:
Biocon India Limited of Bangalore plans to diversify into the bulk drug sector by setting up a subsidiary called Helix Biotech Private Limited. The total investment in the export oriented unit will be Rs40 crore. The recently expanded fermentation facility will be a part of the new subsidiary. Apart from this, Helix will also set up a chemical conversion unit in Bommasandra Industrial Area in Bangalore. Around 60 percent of the diversification plan will be financed by Biocon and the remaining will come as borrowings from the Exim Bank and a venture capital fund company. Helix will mainly manufacture the Satinz group of drugs and Symbostatin, the third largest drug in the world. Around 70 percent of the production will be exported to the US, Europe and some Asian countries. (gsh)
Comment:
Plans to diversify into bulk drug sector by setting up a subsidiary called Helix Biotech
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
IVC, INDIAN BANK, CANARA BANK TO TAKE STAKE IN TIDEL PARK
Article Abstract:
IL&FS Venture Capital (IVC), Indian Bank and Canara Bank have agreed to acquire equity stakes in Tidel Park Ltd (TPL), a joint venture between the Tamil Nadu Industrial Development Corporation (Tidco) and Electronics Corporation of Tamil Nadu (Elcot). TPL is setting up a software facility project at Chennai which will provide 8.5 lakh sq feet to IT companies. IVC and Indian Bank have each agreed to invest Rs5 crore in the Rs94 crore equity capital of TPL while Canara Bank will invest Rs2.5 crore. The Tamil Nadu government holds a preference equity of Rs40 crore in the equity of TPL while Tidco and Elcot together hold 26 percent. (khr)
Comment:
IL&FS Venture Capital (IVC), Indian Bank and Canara Bank have agreed to acquire equity stakes in Tidel Park Ltd (TPL), a joint venture between the Tamil Nadu Industrial Development Corporation (Tidco) and Electronics Corporation of Tamil Nadu (Elcot).
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
IL&FS MAY PICK UP STAKE IN BIOCON ARM
Article Abstract:
IL&FS Venture Capital Corporation Ltd (IVCCL) is negotiating with Biocon India (BI) for acquiring 24 percent stake in its subsidiary, Helix Biotech Private Limited (HBPL). The bulk drug subsidiary is being set up at a cost of Rs40 crore. IVCCL will acquire the stake at a premium of Rs40 for a Rs10 per share totaling Rs9.6 crore. The agreement is likely to be signed by end of July 1998d. Biocon India will finance 60 percent of the equity and the rest will be through borrowings. HBPL will focus on export markets. It will commence production of bulk drugs by April 1999. (rk)
Comment:
Gets offer from IL&FS Venture Capital for 24% stake in subsidiary, Helix Biotech, for Rs9.6 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: BANKAM NET PROFIT JUMPS 87.3% ADB, ICICI, BANKAM, SBI TO TAKE STAKE IN PETRONET LNG. BANKAM TO FINALISE SALE OF UNITS SOON
- Abstracts: THE KARNATAKA BANK LTD KARNATAKA BANK PROFIT UP. KARNATAKA BANK's NET PROFIT RISES 43%
- Abstracts: PREFERRED BRANDS MAKES OPEN OFFER FOR 20% IN TASTY BITE CORN PRODUCTS INDIA LTD. NESTLE SET TO GOBBLE UP DABUR's EXCELSIA FOODS
- Abstracts: SOROS TO TAKE 40% IN OSWAL UREA PLANT. OSWAL AGRO TO DIVERSIFY. OSWAL TO PUMP Rs5,150 INTO COAL-BASED UREA PLANT