Global Calcium Group, one of the leading global and national producers of calcium compounds and a range of mineral Gluconates, plans to go public in mid-2005. The company is in the process of making efforts to work with the Securities and Exchange Board of India (SEBI) for its proposed initial public offer (IPO). No other details were disclosed.
As a customised producer of an array of calcium products, the Group, in its new initiative to consolidate its presence in contract manufacturing, has totally invested $25 million in plant expansion.
The 25-year-old, Bangalore-based Global Calcium has ISO 9001:2001 and WHO-GMP certified production facilities in Hosur that cater to global requirements for active compounds used in developing a range of formulations and has been a regular supplier to Sandoz, a member of the Novartis Group of Companies.
The Global Calcium Group consists of four companies: Global Calcium Pvt Ltd, CalciTech India Pvt Ltd, Beblec India Pvt Ltd and Global PharmaTech Pvt Ltd.
One of these companies, Global Calcium Pvt Ltd, manufacturing sterile liquid injections for Glaxo SmithKline and Lupin, saw a major investment of Rs 12 crore in 2003, with plant expansion alone accounting for Rs 8 crore.
"We are the second largest producers of Calcium Lacto Gluconates in the world. Our monthly volumes have grown from 45 tonnes in the 80s to 200 tonnes. We are on the way to becoming the largest producer in the world,'' Arif Vazirally, managing director Global Calcium told pharmabiz.com
Vazirally did not reveal the company's turnover and growth but assured that all details would be provided once the IPO was on track. "We have invested over $25 million in the four plants at Hosur. In addition, we are preparing the drug master files. We have also being certified by the European Directorate for Quality of Medicines (EDQM) from France. The company exports to almost 45 countries and once its DMF is in place, the international coverage is expected to increase.
The company has a full-fledged research wing, which developed its own product 'Glocal' for calcium fortification of food and beverages intends to enter contract research. Several products are developed in-house with cost-effective processes.