• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Hyderabad, Nov. 19 Sri Biotech Laboratories has decided to raise Rs 100 crore in two phases, seeking funds from merchant bankers, private equity players and the public.

“We will raise about Rs 50 crore from the public,” Dr K.R.K. Reddy, Chief Executive Officer, said.

Addressing a press conference here on Monday, he said part of the proceeds raised through all the modes would be used for setting up a production facility at Pashamylaram Industrial Estate. “It will commence production in the first quarter of the next financial year,” he said.

Initially, the company would raise Rs 35 crore from PE funds and bankers in the next few months.

The company has got the first licence from The Energy and Resources Institute (TERI) for commercialisation of Bollcure, a bio-pesticide for cotton, developed by it to address the bollworm (helicoverpa armigera) problem.

Explaining the benefits of the pesticide, Dr Nutan Kaushik of TERI, said the product, made of eucalyptus plant extract, was found to be very useful in tackling the dreaded worm.

The ‘environmental-friendly’ pesticide arrests the growth of larvae, preventing it from evolving into the worm.

It is estimated that the cotton farmers lose Rs 10,000-crore worth crop each year, constituting 10 per cent of all the damages caused by pests and diseases.

Dr Reddy said the company plans to help Malaysian companies in bio-degradation of palmoil wastes. “We have developed a method that hastens the process,” he said.

More Stories on : New Projects | Pesticides | Bio-tech & Genetics

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Nicholas in research deal with Merck

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line