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.
Karsanbhai Patel's risk-taking abilities are on display once again.
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.
Gujarat's 26-year-old opening batsman Samit Gohel on Tuesday broke a 117-year-old record in first-class cricket by notching up the highest score while carrying his bat through the innings of 359 not out during his team's Ranji Trophy quarter-final against Odisha. While Hanif Mohammed's epic 499 remains the highest score by an opener in first-class cricket, no one has scored more than Gohel while remaining not out in his team's score of 641.
Many see Nirma's Lafarge deal as some kind of second coming for the Patels.
Ahmedabad-based firm to fund deal through equal amount of equity and debt.
Maharashtra Home Minister Anil Deshmukh said on Wednesday that police officer Sachin Vaze will be removed from the Crime Branch and posted in some other department.
'Rightly or wrongly, 1962 got ascribed to Krishna Menon and him alone. That's unfair.' 'Certainly, he was one of the guilty men, but he was not the only guilty man. Mistakes were made all around.'
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The mascot has gone off air now, but not before helping the Gujarat-based detergent brand script the perfect win for an underdog in the eighties.
Who are the men the prime minister relies on to execute his impressive agenda?
