SPC Life Sciences receives Sebi nod

June 30, 2023 admin Leave a reply Post Comment

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SPC Life Sciences IPO GMP, details & review @ Chanakyanipothi.com India`s Oldest & the most Trusted Investment website. Operational since 8th December 1999, this is the Only Investment website in India, which has successfully completed 23 Years.

Who is the promoter of SPC Life Sciences IPO? 
SNEHAL RAVJIBHAI PATEL

What is the business of SPC Life Sciences?

SPC LIFE SCIENCES is one of India’s leading manufacturers of advanced intermediates for certain key activepharmaceutical ingredients (“APIs”), including Pentoxifylline, AmiodaroneHCL, Cilostazol, Trazodone, Tramadol and Paroxetine.

The Company is the world’s largest manufacturer of 6-Chloro-Hexane-2-One (an intermediate for cardiovascular (hemorheological) drug Pentoxifylline) in Fiscal 2022 with 93% market share. It is the only supplier for 2-N-Butyl-3-(3,5-Diiodo-4-Hydroxy Benzoyl) Benzofuran (which is a key structura lcomponent of Amiodarone HCL) and associated sub products in India with 20% global market share in Fiscal 2022. The Company is a manufacturer of 2-Di Ethyl Amino Ethyl Chloride Hydrochloride (which is also a key structural component of Amiodarone HCL)with 13%global market share in Fiscal 2022. Such intermediates manufactured by our Company (which are used in the manufacturing of Amiodarone HCL) are categorised as import substitutes.

Until February 2023, our Company was operating four manufacturing blocks at a single locationat Ankleshwar, Gujarat. In March 2023, it has commissioned the first phaseof its new manufacturing site locatedat Dahej, Gujarat which consists of an automated manufacturing block equipped with programmable logic controller as well as common utilities, storage facilities, quality control lab and administrative facilities . Dahej Block –1 is planned to focus on manufacturing of Pharma Intermediates as well as specialty chemicals such as bromobenzene and NPBR. Besides pharmaceutical application, bromobenzene and NPBRalso find use in agrochemicals and electronic cleaningindustries. Further, Bromo Chloro Propane (“BCP”) proposedto be manufactured at Dahej Block -1 is also categorised as import substitutes. Dahej Block –1,wheresome of the products are proposed to be manufactured, in addition to potential external sales, will also act as backward integration to service its captive requirements for the Ankleshwar Facility. This backward integration is also expected to allow it to reduce dependence on imported raw materials for the Ankleshwar Facility.

As of January 31, 2023, it supplied its products to more than 35 customers in over 10 countries, comprising domestic and international pharmaceutical companies, in turn catering to India as well as markets of Europe, China, Israel, North America and South America. In the Fiscals ended March 31, 2022, March 31, 2021, and March 31, 2020, its revenue from sales outside India contributed 24.26%, 16.91% and 25.94%, respectively of its total revenue from operations. Its revenues from sales outside India have grown at a CAGR of 6.13% between Fiscals 2020 and 2022

For more information, click www.spcls.co.in

What is the object of SPC Life Sciences IPO?
The Offer comprises the Fresh Issue and the Offer for Sale.
The Company proposes to utilize the net proceeds of the Fresh Issue towards funding the following objects:
1.Re-payment/Prepayment of certain outstanding borrowings availed by the Company;
2.Funding of capital expenditure requirements of the Company towards setting up Phase-2at our Dahej Facility to expand ourproduct offerings of pharmaceutical intermediates;
3.Funding our working capital requirements; and
4.General corporate purposes

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