Sami Labs has appointed Ernst & Young (E&Y) to explore
options for an initial public offering or private placement
of equity to invest close to Rs 100-200 crore over a year.
are currently in the thought process and E&Y would complete
the first phase of their report by December 31, 2003 and
the final report by March 31, 2003 to enable us decide om
the options,” Sami Labs chairman and managing director
Muhammed Majeed said.
E&Y will work on the consolidation of various group
companies in the first report. The company has already undertaken
a streamlining exercise to unify operations in Europe, Japan
and US under the Indian umbrella, Mr Majeed said.
speaking at a press meet to announce the US patent office’s
aaproval for the company’s three new ingredients –tetrahydrocurcuminoids
(dermatology), coleus oil (infective) and zealutien ( geriatric
“The three new active ingredients in nutraceuticals
and cosmeceuticals formulations have a combined estimated
market size of Rs 20 crore,” he added. The company
has a total of 27 international patents of which 15 are
awaiting approval. It is targeting a turnover of Rs 70 crore.
company hopes to capture five per cent of the total market
in the next three years with these discoveries. It has so
far invested close to Rs 60 crore in four production units
at Bangalore, Singasandra, Kunigal and Mysore.
Meanwhile, Sami Labs is pursuing the aromas and fragrances
market in India, pegged at Rs 1,200 crore. It is in the
process of setting up a fully automatic plant to cater to