After raising Rs 40.25 crore by issuing 700,000 equity shares to its promoters Dashtag, Fulford India has utilised Rs 19.54 lakh towards business expansion during the quarter ended March 31, 2012. Total amount utilized towards business expansion till March 31, 2012, out of the aforesaid amount, was Rs 76.5 lakh. The remaining balance amount of Rs 39.48 crore continue to be invested in fixed deposits with banks.
The company raised the said amount to provide capital in order to permit the company to strengthen its position in the market and act on strategic business growth opportunities.
Fulford (India) is engaged in the business of manufacturing and marketing pharmaceutical consumer products, including cough tablets and herbal ointments, marketed under the trademarks - PEPS and ZAMBUK respectively. It offers medicines for the treatment of allergy and respiratory, arthritis and immunology, cancer therapies, cardiovascular, hepatitis, sun care, etc.
