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Jayanta Mallick

Nanotechnology co may buy 5 pc stake in Dolphin

Kolkata , Nov. 27

Dolphin Medical Services counter has, of late, been active on expectation of major corporate developments. The stock has gained 48 per cent in the last one month and the fortnightly average volume on the BSE is 6.17 lakh shares.

The company has recently entered into an agreement with a nanotechnology company Biomix Network - an Indian outfit of a German company with operational base in Mumbai. Biomix, which has a range of products in the diagnostic, pharmaceuticals and healthcare sectors, is planning to take roughly around 5 per cent stake in Dolphin, Mr S. Rao, Director, Dolphin, confirmed to Business Line.

Dolphin has the sole marketing and distribution rights for Biomix products in the country. Biomix also agreed to license its diagnostics and clinical trial software and activities to Dolphin.

In talks with UK firm

In the area of knowledge process outsourcing, Mr Rao said that Dolphin is negotiating with a UK firm. The company is also in tie-up talks with three European companies for tele radiology and clinical trials.

The strategic investment by Biomix and issuance of unsubscribed portion of rights to the promoters would expand the paid-up equity capital of Dolphin to around Rs 19.5 crore from the current Rs 15.10 crore, Mr Rao estimated.

However, this issue to the promoters would have to be done at a higher premium at Rs 5 instead of Rs 2, which was fixed for the rights issue earlier, according to the SEBI formula. Promoters, at present, hold around 27 per cent stake in Dolphin.

Franchise route

Dolphin, a Hyderabad-located company, has also taken up a geographical expansion plan to set up through franchise route a chain of multipurpose medical services centres at different cities, which in addition to catering to diagnostic requirements, will also serve as centres for KPO services and clinical development services, including clinical trails and tele-radiology.

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