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Poonawala's invst in Orchid Chem financial in nature: Srcs
2008-05-20 16:25:47 Source : Midcap Radar/CNBC-TV18
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By Vikas Dandekar, CNBC-TV18
Sources tell CNBC-TV18 that Cyrus Poonawala's investment in Orchid Chemical is said to be financial in nature.
Dr. Cyrus Poonawala’s companies have been investing in emerging opportunities in the past and Orchid is no different from that kind of an investment, though the Serum Institute had been having ambitions to raise funds to the primary market. But it doesn’t have anything to do with Cephalosporin. CNBC-TV18 understands from top officials within the Serum Institute that it is a completely financial investment and there is no strategic opportunity that Serum Institute feels in Orchid Chemicals right now.
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