By: IPP Bureau
Last updated : November 27, 2022 10:27 am
Total investment envisaged in this project stands at up to Rs 70 crore
Panchsheel Organics Limited has been allotted a land admeasuring 19163 sq. meters (approx) 5 Acre on lease for 99 years at DMIC Vikram Udyogpuri Biotech Park near Indore for a total consideration of Rs. 3 crore excluding taxes and the Company is in the process of completing all the regulatory formalities.
The source of funding includes part proceeds from fund raised through allotment of preferential shares and warrants and internal accruals / debt (if needed).
This allocation and subsequent allotment of land within the DMIC Vikram Udyogpuri Biotech Park near Indore will allow us to setup an additional fermentation unit in Indore, over and above the new unit coming up in Pithampur, MP and de-risk ourselves from a single location. This new facility will also have capability to manufacture API/Intermediates and can gradually be scaled up to 120 TPA at the same location.
Total investment envisaged in this project stands at up to Rs 70 crore (excluding working capital requirements).