In a bid to reduce its over Rs 800 crore debt, Dishman Pharmaceuticals and Chemicals is planning to sell its 175 hectares land in Gujarat to Nirma for about Rs 650 crore. Talks with Nirma are in final stages. Moreover, the company plans to pay off a bank debt of Rs 100 crore from proceeds of sale of its Shanghai facility.
Further, the company is looking at exiting the SEZ business altogether by selling of the land in Gangad and Kalyangadh village near Bavla in Gujarat.
Dishman Pharmaceuticals is engaged in the manufacturing of active pharmaceutical ingredients (APIs) intermediates. The Company operates in two segments: contract research and contract manufacturing (CRAMS), and bulk drugs, intermediates, quats and specialty chemicals.
Company Name | CMP |
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Sun Pharma Inds. | 1543.80 |
Dr. Reddys Lab | 5893.70 |
Cipla | 1369.00 |
Zydus Lifesciences | 980.90 |
Lupin | 1641.45 |
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