Zim Laboratories to be listed on BSE tomorrow

Moneycontrol News
Nagpur-based pharmaceuticals company Zim Laboratories will list on BSE on Friday, June 8.

Zim Labs was trading on the OTC Exchange Of India before the Securities Exchange Board of India (SEBI) withdrew its recognition of it in March 2015.

The company was recently by allowed SEBI to list on the main board of BSE.  This listing will provide an exit to some of its existing shareholders.

The book value of Zim Labs, promoted by Anwar Daud, is Rs 160 per equity share.

Daud and his family own 54 percent stake in the company, and private equity firm Ashmore Alchemy India Advisors owns around 22 percent. The rest is owned by minority shareholders.

Started in 1989, Zim clocked a profit after tax of Rs 18 crore on revenue of Rs 275 crore in FY18.

In FY 18, 38 percent of the company's sales come from the domestic market, followed by 27 percent from Asia, 20 percent from Africa, and 15 percent from Middle East.

Zim has developed and commercialised the complex oral film technology and plans to launch multi-layer thin films that contain more than one API on a single thin strip in coming months.

For OTF, Zim Labs has received 24 DCGI product approvals and is awaiting 14 product approvals in India and 13 overseas.