Tata Capital Healthcare Fund has picked up a 13 per cent stake in Ahmedabad based Marck Biosciences for Rs 45 crore. Besides, IFCI Venture's 6 per cent stake will also be acquired by Tata Capital Healthcare Fund, following which Tata Capital's total holding would be around 19 per cent.
Marck Biosciences, manufacturer of sterile liquids and pharmaceutical dosages, is targeting a top line growth of 62 per cent while the PBDIT (profit before interest, depreciation & taxes) is targeted at 37 per cent and net profit to reach at 17-18 per cent, a company statement here said.
The company has laid out investment plans for the new project. Marck plans to invest around Rs 80 crore in new project. Bhavesh Patel, managing director, Marck Biosciences said, "We are investing Rs 80 crores in the new expansion project.”
He added that the entire project cost is expected to be around Rs 80 crores and hence the company would also be going in for further funding through debt route. "We expect returns from the funds infused within 6 to 8 months," Patel said.
