Indoco Remedies Gets USFDA Approval for Allergy Tablets

The Cetirizine tablets will be produced at Indoco's manufacturing facility in Verna, Goa. These tablets are designed to relieve symptoms of hay fever and other allergic conditions.

Commenting on the achievement, Aditi Panandikar, Managing Director said, “This approval is a testament to Indoco’s commitment to delivering high-quality and affordable healthcare solutions to global markets. We are proud to contribute to providing effective allergy relief medicines and remain focussed in expanding our portfolio in the OTC space." 

About Indoco Remedies Limited:

Indoco Remedies Limited is a comprehensive pharmaceutical company focused on research and has a strong presence worldwide. The company generates a revenue of $212 million and employs over 6,000 people, including more than 400 skilled scientists and field staff. Indoco operates 11 manufacturing facilities, with 7 for finished drug forms (FDFs) and 4 for active pharmaceutical ingredients (APIs). It also has a modern R&D centre and a clinical research organisation (CRO) facility. These facilities are approved by major regulatory authorities, including the USFDA and UK-MHRA.

Indoco creates and manufactures a variety of pharmaceutical products for both Indian and global markets, issuing over 106 million prescriptions each year from around 235,000 doctors in different specialties. The company has 8 domestic marketing divisions and a strong range of brands in various therapeutic areas, such as gastrointestinal, respiratory, and pain management. Some of its well-known brands include Cyclopam, Febrex Plus, and Sensodent-K. Internationally, Indoco collaborates with large generic companies around the world.

Key Takeaways from Paramount Dye Tec IPO:

• The Paramount Dye Tec IPO includes a fresh issue of 24.3 lakh shares, with a price range of Rs 111 to Rs 117 per share.
• Bigshare Services Private Ltd is appointed as the registrar, Gretex Corporate Services Limited is the book-running lead manager, and Gretex Share Broking is the market maker.
• The company plans to use the IPO funds to establish a new manufacturing unit and pay off existing debts.
• A portion of the funds will cover expenses for registering land purchased from the promoter and allocations for general corporate purposes.

The minimum lot size for an application is 1200 shares and multiples of 1200 shares thereafter.

The company has appointed Bigshare Services Private Ltd as the registrar and Gretex Corporate Services Limited as the book-running lead manager for the issue. Gretex Share Broking will act as the market maker for the offering.

Paramount Dye Tec plans to use the funds raised from the IPO to establish a new manufacturing unit and pay off debts. They will allocate part of the funds to cover expenses related to registering land purchased from the promoter, with some money also directed toward general corporate purposes.

About Paramount Dye Tec Limited:

Paramount Dye Tec Limited, located in Ludhiana, India, is a well-known manufacturer of recycled synthetic yarn, run by an experienced team. Since its founding, the company has focused on producing 100% recycled synthetic fibre and the yarns made from it. Through consistent innovation and hard work, Paramount Dye Tec has experienced significant growth and continually improves its key strengths. The company has a large number of satisfied customers and is dedicated to meeting the changing needs of the designer and eco-friendly textile industry.

Key Takeaways from Sahasra Electronics Solutions IPO:

• The Sahasra Electronics Solutions IPO includes a fresh issue of 60.78 lakh shares and an offer for sale of 5 lakh shares, open for subscription from September 26 to September 30, 2024.  
• Hem Securities Limited is the book running lead manager, while Bigshare Services Pvt Ltd serves as the registrar for the IPO.  
• The company plans to use the funds raised from the fresh issue for various purposes, including capital expenditures for new machinery in Bhiwadi, Rajasthan.  
• Additional funds will support investments in its subsidiary, Sahasra Semiconductors, and cover working capital needs and general corporate expenses.  

Hem Securities Limited serves as the book-running lead manager for the Sahasra Electronics Solutions IPO, with Bigshare Services Private Limited acting as the registrar for the offering. Hem Finlease is designated as the market maker for the IPO.

The company intends to utilise the funds raised from the Fresh Issue for related expenses, for various purposes. This includes financing capital expenditures for the installation of additional machinery at its new manufacturing facility in Bhiwadi, Rajasthan. It also plans to invest in its subsidiary, Sahasra Semiconductors Private Limited, to support its capital expenses for new machinery. Furthermore, a portion of the funds will be allocated to meet working capital requirements and for general corporate purposes.

About Sahasra Electronics Solutions Limited:

Founded in 2000, Sahasra Electronics Solutions has grown into one of India’s most successful electronic companies, offering comprehensive solutions from design to manufacturing and distribution through its six businesses. With four manufacturing plants in the NCR and one in Rwanda, along with eight sales and marketing offices in India, the USA, Canada, Africa, and Europe, the group is a leading exporter of electronic products and services. Its mission is to provide high-quality goods and services at competitive prices while ensuring customer satisfaction worldwide. Employing over 510 people (with a fifth being female), the group has a sales turnover of under US$100 million and aims to expand further. With a forward-looking vision, the group is committed to becoming a top international electronic solutions provider while prioritising social and environmental sustainability for all stakeholders, including customers, vendors, investors, employees, and partners.

Key Takeaways from the Announcement

• The contract comprises 13 units, comprising 100 passenger hybrid electric ferries and 200 passenger twin-deck hybrid electric ferries.
• The contract amount is approximately ₹226.18 crore (excluding GST).
• The work will be executed in 30 months from the date of entering into the contract.

As per a stock exchange filing, the contract involves a total of 13 units, which include 100 non-air-conditioned hybrid electric ferries designed for cross-ferry operations and 200 twin-deck hybrid electric ferries with air conditioning on the main deck. This domestic contract is valued at approximately Rs. 226.18 crore (excluding GST) and is expected to be executed within 30 months from the effective date of signing.

Additionally, the company confirmed that none of its promoters or group companies have any interest in the entity awarding the contracts, ensuring that the transaction is conducted at arm's length. A detailed contract is currently under finalisation and will be signed shortly.

The agreements are expected to place special emphasis on the improvement of inland water transport in West Bengal with environmentally friendly hybrid electric ferries. As the scheme covers sustainable transport in the government plan, the connectivity on water route passages in the state is being sought to be improved.

About Garden Reach Shipbuilders & Engineers Limited

Garden Reach Shipbuilders & Engineers Ltd. is a premier shipbuilding company in India, specialising in building various types of vessels for the Indian Navy and Coast Guard. With a rich history dating back to 1884, GRSE has established itself as a leader in shipbuilding and engineering services, contributing significantly to India's maritime capabilities. The company is committed to innovation and sustainability in its operations and product offerings.