Fulford India had utilized Rs 21 lakh towards business expansion during the quarter ended December 31, 2013. The total amount utilized by the company towards business expansion till December 31, 2013 is Rs 2.72 crore after adjusting the grant of Rs 1.24 crore received from its affiliate company. The remaining balance amount of Rs 37.53 crore continue to be invested in fixed deposits with banks pending utilization of the same.
The company had raised Rs 40.25 crore by issuing 700,000 equity shares of Rs 10 each at a premium of Rs 565 per share to its promoters Dashtag. The funds were raised 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.
