Ozone Pharmaceuticals, part of Ozone Group has announced its plan for floating the initial public offer (IPO) in the near future. The pharma company has conditioned that once the Group’s revenue touches Rs 200 crore mark, will apply for public offer. For the fiscal gone by, the group has posted a topline figure of Rs 150 crore.
The fast growing pharma company has announced sale of medicines at cheaper rates for tapping the increasing spends on healthcare in India. Ozone Pharmaceuticals, under a uniform pricing initiative, will be selling medicines for several chronic diseases such as diabetes and blood pressure for just Rs 2 per tablet.
The company is looking forward to increase its topline through this initiative which will enable the Group to attain Rs 200 crore revenues.