Nuvoco Vistas Corp Achieves Highest-ever Profitability with Consolidated EBITDA at Rs. 1,657 Crores and PAT at Rs. 147 Crores aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.
Nirma s tryst with the pharmaceutical space started in 2006 when it acquired the ailing Core Healthcare in a deal reported to be worth Rs 300 crore.
The Ahmedabad-based manufacturer of intravenous fluids was subsequently renamed Nirlife.
Pharma industry insiders say Nirma, which broke open the detergent market in the 1990s with low prices and massive advertising, tried an encore of the low-price strategy in pharma, but with mixed results.
Nirma has roped in BCG and KPMG to advise it on the fundraising options for the acquisition.
The company had earlier informed banks that it would raise Rs 5,000 crore to Rs 7,000 crore in the current financial year for the acquisition.
Bankers said the company will rely on its funds and future GLS dividend to repay its debt for acquisition.