The company will get listed on BSE main board on June 8, 2018
Nagpur-based Zim Laboratories will invest Rs 35 crores for setting up research lab and small manufacturing unit in Nagpur both for the regulated and Rest of the World (RoW) markets. Funds will be arranged from internal accrual and term loans. Both the new units are likely to be commissioned in next six months.
On the sidelines of a press conference in Mumbai, Dr Anwar Daud, MD, Zim Laboratories said, “Our new research lab will specialise in complex generics and we will hire around 45-50 scientists. We will also set up a small batch manufacturing unit for high value and small volume formulation facility, which will be EU-GMP compliant.”
The company is also manufacturing multi-layer thin films which contains more than one active pharmaceutical ingredients on a single thin strip.
Zim Laboratories will list on the BSE mainboard on June 8, 2018. ZIM got listed on OTC Exchange of India in 1994, following the SEBI guidelines the company will be listing on BSE and will have a price discovery as per trading on the bourses. The book value price of ZIM is Rs 160 per equity share.
Commenting on the listing, Daud said, “The expected valuation will be seen in few months as we are listing on book value. However, we are expecting to see the valuation of the shares which are being quoted in the range of Rs 450 – 550. Although the listing will take place at a book value of Rs 160 as BSE has set a price discovery mechanism in place.”
The company’s Oral Thin Film (OTF) Technology is patented as Thinoral with about 19 applied product/process patents for oral films globally.
The company has a total of 26 inventions with 53 filings worldwide. Its 198 formulations are registered in the RoW and domestic markets. The company has applied registration for 368 and 159 formulations are in the pipeline.