Bangalore . March 25: Sami Labs Ltd. a research oriented, transnational health Science Company, is planning to go public next year and is expecting to mop up Rs 200 crore.
Speaking to Express, Founder and MD Muhammed Majeed said. “The money acquired through the IPO will be channelised towards the acquisition of 2 European companies - a neutraceutical distribution company and a research group which manufactures herbal based products.
The company has been registering a growth of 40 percent year on year with almost 10-12 percent of its income being spent on R&D. Having clocked a turnover of Rs 259 crore for year ending December 2004, the company' is projecting a turnover of 450 crore by December 2005 'We are setting up 2 phytochemical extraction. Units in Karnataka and Andhra Pradesh at a total cost of Rs 48 crore “said Majeed.
Elaborating, he said the phytochemical extraction unit will be set up on 4.5 acre at Genome Valley , Hyderabad and is scheduled to be completed in 120 days by July 2005 at a cost of Rs 8 crore. The unit in Karnataka will be set up on 19 acre at Dabaspet (between Peenya and Tumkur) and will house two separate facilities at a cost of Rs 40 crore. Sami received its first US patent in 1996 and now the number of patents awarded to the group has risen to 14. More than 25 additional us and international patents are in the pipeline.
Sam! Labs today is a multinational, multi-locational company exporting fine chemicals, standardized extracts, cosmeceuticals, nutraceuticals. Specialty chemicals and bulk drug intermediates.
The company has manufacturing facilities at Nelamangala, Singasandra, Kunigal and Mysore in Karnataka. The Nelamangala facility also accommodates the biotechnology plant. The company is in the process of setting up a marketing office in Bangkok to cater to the Pacific Rim countries.
Sami Labs plans Rs 200Crore IPO
Turnover last fiscal: Rs 259 Crore
Projected turnover: Rs 450 Crore
Percentage of income spent on R & D : 10%
Planning 2 Phytochemical extraction units in Karnataka and AP at a cost of Rs 48 Crore
Received first US patent in 1996.