ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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TCI Finance

EPW Research Foundation Vera Laboratories VERA LABORATORIES is setting up a plant for the manufacture of bulk drugs. The company would be in a position to change the product mix by changing the combination and composition of chemicals in case the manufacture of a new bulk drug becomes unfeasible. This would be possible because the basic infrastructure required for the manufacture of a new bulk drug being the same, the company would not have to make additional outlays. The company has entered into technical collaboration with Chementechno of Italy for the manufacture of vitamin K3 and Tiaprofenic Acid. The company is also entering into a technical agreement with Divi's Research Centre for the manufacture of the other bulk drugs and intermediates as also for the provision of engineering plans for the plant. The company is making an Offer of Sale and the funds realised on the allotment of equity shares is to be utilised to finance its projects. The net Offer of Sale is of 40.7 lakh equity shares of Rs 10 each at a price of Rs 60 per share aggregating Rs 2,442 lakh by the constituted attorney, India Securities. The offer is to open on May 2 and the market managers are India Securities and Jamnadas Morarjee and Company.

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