Welcure Drugs & Pharma to set up agro-pharma lab for around Rs 80 crore
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Welcure Drugs & Pharmaceuticals Ltd on Wednesday said it will set up an agro-pharma research laboratory with an investment of Rs 70-80 crore for the development of botanical and ayurvedic products The company also plans to raise up to Rs 80 crore through a qualified institutional placement (QIP), in one or more tranches, to fund the research project and meet other general purposes, the company said in a statement.The research facility and processes will be designed to align with applicable cGMP (common good manufacturing practices) standards and the US FDA's Botanical Drug Development guidance in order to enable participation in broader international markets for botanical/ayurvedic products, Welcure said."Size of the project is estimated to be around Rs 70-80 crore, including laboratory infrastructure, pilot lines, analytics & quality systems," the company stated.The proposed site, timeline and commissioning plan for the laboratory project will be finalised after approval from the board, it said, adding that the company's board will meet on August 28 to consider the QIP issue.Welcure reported a net profit of Rs 23.29 crore for the June quarter, while its revenue stood at Rs 299.91 crore in the period.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
3 minutes ago
- Business Standard
Datanomics: Diplomatic thaw expected to bolster India-China ties
Chinese foreign minister Wang Yi recently interacted with his Indian counterpart S. Jaishankar to bolster the Indo-China bonhomie, in the wake of the recent turbulence in the India-US relations Yash Kumar Singhal New Delhi Listen to This Article Chinese Foreign Minister Wang Yi recently interacted with his Indian counterpart S Jaishankar to bolster the Indo-China bonhomie, in the wake of the recent turbulence in the India-United States (US) relations. Discussions revolved around trade, especially focusing on easing exports of fertilisers, rare earth minerals (REMs), and tunnel boring machines to India, besides facilitating movement of people and investments, which took a hit post Galwan clashes in 2020. China's share in India's fertiliser imports drops The Chinese share in Indian imports of fertilisers dropped from 27.16 per cent in FY20 to 10.51 per cent in FY25. In value
Time of India
7 minutes ago
- Time of India
PAG, Apax & others in race to buy US digital firm Accion
About half a dozen suitors, including PAG and Apax Partners , have expressed strong interest in acquiring Accion Labs, a US-based digital-focused software product engineering company, according to people familiar with the development. These firms have reportedly submitted non-binding bids to acquire a majority stake in Accion Labs, valuing the company between $800 million and $1 billion. Currently, global private equity fund TA Associates and Mumbai-based PE fund True North Partners together hold approximately 90% ownership in Accion Labs, with the remaining stake retained by the company's founders. JP Morgan is advising the investors on a potential exit strategy. Founded in 2011 in Pittsburgh, Accion Labs employs more than 5,500 engineers across 23 offices in the US, Canada, the UK and the Asia-Pacific region. Bloomberg reported last year that TA Associates was planning to exit its investment in the company. In India, Accion has offices in Bengaluru, Mumbai, Pune, Hyderabad and Goa. In 2022, True North Partners, through its fund Indium VI (Mauritius) Holdings, acquired about 30% stake in Accion Labs for $93 million, while TA Associates acquired the majority stake in 2020. Accion Labs, co-founded by Kinesh Doshi and Tony Kernan, offers a wide range of services including digital engineering , cloud and platform engineering, data and artificial intelligence (AI) solutions, enterprise system automation and agentic AI solutions , according to its website. Queries sent to TA Associates, True North Partners, Accion Labs and Apax Partners did not elicit any responses, while a PAG spokesperson declined to comment. Private equity funds are increasingly targeting tech services firms, driven by the sector's high growth potential fuelled by the ongoing digital transformation , along with growing demand for IT consulting, cloud and cybersecurity services. The tech services market remains highly fragmented, presenting opportunities to PE investors to create value through consolidation, operational improvements and strategic expansion. Recently, TPG Capital-owned Altimetrik acquired SLK Software, a Bengaluru-based technology services firm specialising in AI, intelligent automation and analytics solutions. The acquisition, valued at $550-$600 million (about ₹5,100 crore), saw Altimetrik outbid other IT companies including Mphasis and Hexaware Technologies . In India, unlike the west, the robust exit environment, supported by interest from both strategic buyers and public markets, makes tech services companies attractive acquisition targets for private equity firms, according to experts. Carlyle-backed Hexaware Technologies went public in February 2025, listing at a premium of 5.3%. CA Magnum Holdings, an affiliate of The Carlyle Group, currently holds a 74.57% stake in Hexaware. The Carlyle Group acquired the majority stake from Baring Private Equity Asia in 2021 for about $3 billion. Hexaware's market capitalisation stands at ₹49,239 crore ($5.64 billion). The Indian software products market is poised for significant expansion, with projections estimating growth to $44 billion by FY31 from $15 billion in FY23. According to a report by Avendus Capital, an increasing number of scaled players, in high-growth sub-segments such as cloud services , analytics and AI services, and cybersecurity services, are expected to emerge and capitalise on value creation opportunities.
Time of India
32 minutes ago
- Time of India
Students-turned-entrepreneurs: Young Goans choose independent paths to employment
Panaji: Brushing aside the conventional mindset of many Goans to get employed in a govt department or move out of India to secure their future, 30 Goan students took on a challenge and became entrepreneurs while studying. Malissa D'Souza is a 19-year-old resident of Mapa-Panchwadi, a remote Ponda village. The BSc student is a young entrepreneur who does not have any family background in business. 'Alongside my studies, I've started a small business built around my passion for crochet and art,' said the student of Ravi Naik College of Arts and Science, Farmagudi. 'My journey began in 2023, inspired by a simple reel of crocheted tulip flowers. While social media is often seen as a distraction for today's youth, for me, it introduced a whole new world—crochet. As a naturally artistic child, I thought, why not take this up as a hobby?' D'Souza told TOI . D'Souza said she has earned around Rs 1000 so far, and while it's a humble beginning, it means a lot. 'In July 2025, I officially launched my business by posting my first reel. I now create and sell a variety of handmade crochet products, including flowers, amigurumis (stuffed toys), keychains, and other custom items. This business is my step toward financial independence and a way to support my parents—as an only child, I feel a deep responsibility to contribute. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it better to shower in the morning or at night? Here's what a microbiologist says CNA Read More Undo ' Converge-Shiksha-Udyojak Sangam, the flagship industry–academia partnership programme organised by the directorate of higher education (DHE) and the Goa State Higher Education Council (GSHEC). It is a platform to bridge the chasm between academic learning and industrial demand. It has rapidly evolved into a crucible of ideas, collaboration, and opportunity for students to become entrepreneurs. 'We stand out as a torchbearer of innovation, creativity, and entrepreneurial dynamism. Through a series of visionary initiatives, DHE has not only empowered students with the courage to innovate but has also equipped faculty with the skills to mentor the entrepreneurs of tomorrow,' DHS director Bhushan Savaikar told TOI . Expanding its reach to 37 colleges, the programme delivered over 400 sessions, reaching more than 15,000 students across the state. With its guiding vision to skill-up, scale-up, and succeed, the initiative is preparing Goa's youth to embrace the future with skill, creativity, and confidence, said DHS programme director Niyan Marchon. Arshiya Khan Inamdar, a student of TYBA in political science at the Dhempe College of Arts and Science, Miramar, grew up watching her father repair televisions, a job that, while skillful, wasn't particularly profitable. At the age of nine, she started a mobile shop. 'To support our family, my father worked part-time as an auto rickshaw driver. Around that time, I developed a fascination for mobile phone posters and advertisements. One day, I suggested to my father that he should try his luck in the mobile phone and accessories business,' she said. 'Unlike many parents who might dismiss a child's idea, my father not only listened but wholeheartedly supported me. He invested in the idea, and I took a keen interest in making it work. By the age of 11, I discovered a natural talent for sales. I could confidently engage with customers, handle crowds, and close sales successfully.' 'Slowly but steadily, our small business began to grow. We soon became the only mobile shop in our area, and our customers didn't just buy from us; they became like family. Of course, it wasn't always easy. Even as a young girl, I learned to resolve misunderstandings and challenges that come with running a business,' she said. Students of Padre Conceicao College of Engineering, Verna, Sohan Takkekar and Anish Naik, CEO and CSO respectively of Bilton Marketing, founded in 2025, are transforming local businesses through digital brilliance and with a vision to redefine how local enterprises engage with their audiences online. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
