Unichem Laboratories Ltd, a Rs 500 crore plus pharmaceutical company, has acquired the Active Pharmaceutical Ingredients (APIs) facility at Indore, Madhya Pradesh. This asset was bought from the financial institutions including ICICI, IFCI and SBI under the Securitisation Act for a consideration of Rs 15 crore. Currently, the company has an API facility at Roha, Maharashtra which will be further augmented with this acquisition.

According to Dr P A Mody, chairman and managing director, "We plans to upgrade this facility for regulatory approvals from US FDA and other developed markets. The upgradation will be completed within next 10-12 months at an additional investment of around Rs 20 crore."

Genesis Management Consultancy Services Private Limited was the investment banker and N A Shah Associates were the advisors for this transaction.

Unichem Laboratories Limited is an Indian pharmaceutical company with vertically integrated operations. Its formulation plants are located in Goa, Ghaziabad and Baddi in Himachal Pradesh.