JANUARY 6: Cadilla Healthcare is part of the Zydus Group and plans to offer 7.4 million shares to the public, the statement said. "The issue proceeds will be utilised for part funding ongoing projects. The projects include the new plant at Moraiya, the new, dedicated drug plant at Ankaleshwar (Gujarat) and the state of the art research and development," the company said. The total project cost is estimated at Rs 2.7 billion.The company's sales in 1998/99 stood at Rs 3.61 billion and it made a profit of Rs 362.5 million. The company said turnover in 1999/200 was expected to be around Rs 4.75 billion and Rs 5.6 billion in 2000 company has entered into a strategic joint venture with Byk Gulden of Germany, a global pharma major and the worldwide patent holder of the novel proton pump inhibitor "Pantoprazole". The issue will be jointly managed by JM Morgan Stanley, Kotak Mahindra Capital Co and DSP Merrill Lynch.
