Mumbai, Apr 4 (UNI) Cent per cent book built initial public offer (IPO) of Plethico Pharmaceuticals Ltd will open for subscription on April 10 and close on April 17.
Plethico Pharma CMD Shashikant Patel told mediaperons here today, ''Our motto is pledged to ethics and we strongly believe that this IPO will enable investors to participate in our scuccess story. We have been in the pharma business for over 40 years and are a fast-growing company and our past track record is a testimony to the pace at which we have grown.'' Plethico has chosen the path of being a multi-product company with a large global presence and has the following product range-- herbal and allopathetic formalations, consumer healthcare products and nutraceuticals, food, supplements, disposables and hospitals consumables and veterinary products. The company has a portfolio of more than 400 formulations in more than 39 therapeutic segments.
The main objectives of the issue is setting up a plant in Jammu and Kashmir (J &K), which is WHO CMP compliant and using the land to cultivate important herbs using organic farming. The company will upgrade of Kalaria plant near Indore for UK MHRA compliance. Plethico has two fully integrated state-of-the art manufacturing unit located near Indore, which serve as the backbone of the entire operation. These facilities are being upgraded as per stringent norms of UK MHRA, he added.
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