Indore-based Syncom Healthcare (SHL) has filed its DRHP with Sebi on 18/9/2008 to enter the capital market with an IPO of 75 lakh equity shares of Rs 10 each at a price to be decided later through the book building process. The issue will constitute 42.86% of the fully diluted post issue paid-up capital of the company.

The company proposes to to list its shares on BSE and NSE and the BRLM to the issue is Chartered Capital & Investment.

The objects of the issue is to set up a new unit at Indore SEZ for manufacturing of various pharmaceutical products and formulations; to undertake modernisation of manufacturing facilities at Dehradun plant; to set up an export house in Mumbai; to underake brand and product registration and approval and to meet working capital requirements.

The company proposes to use the proceeds from the issue to part finance its above mentioned project cost. The company will utilize Rs 20.48 crores for the new manufacturing unit at Indore SEZ; Rs 6.62 crores for upgradation and modernization of its Dehradun facility; Rs 4 crores for setting up export house in Mumbai; Rs 3 crores for brand and product registration & approval and Rs 15 crores for working capital requirements.

Syncom Healthcare Limited is a multi-divisional company engaged in the pharmaceutical manufacturing and marketing with nation wide presence. The focused market segments of Syncom are: formulations, nutraceuticals, herbals, cosmeceuticals and animal healthcare.

Recently, the company has put up a state-of-art manufacturing facility at Dehradun. The new plant built in the excise and sales tax free zone, has facilities for manufacturing tablets, capsules, liquid orals, oral dry powder,s eye-ear drops, ointments, protein powder and external preparations like liniments and oils.

The company also intends to explore the area of Contract Manufacturing in the near future. The new plant of SHL is all set for commercial production soon. The plant has eight manufacturing departments with large installed capacities. It has distribution network access across the country with 2,000 distributors and stockists and more than 2,00,000 retailers.

Presently,the company is manufacturing, marketing and distributing pharmaceutical formulations under own brands of ethical, OTC, generic and herbal market segment.

For the year ended 31/3/2008, the company posted total income of Rs 51.74 crores as against Rs 30.18 crores for the previous year. The net profit of the company for the year ended 31/3/2008 was Rs 3.69 crores as compared with Rs 2.75 crores for the previous ended 31/3/2007.