Galaxy Medicare Ltd Company Summary

Galaxy Medicare Ltd Summary

Galaxy Medicare Limited was originally established on July 23, 1992 as a Limited Company in the Mancheshwar Industrial area of Bhubaneswar, Orissa. The Company commenced its operations in 1992 when the founder, Mr. Dillip Kumar Das, acquired a closed business unit, M/s Cure Aids Private Limited from Odisha Industrial Infrastructure Development Corporation (IDCO) and Odisha State Financial Corporation under the investment promotion, facilitation and aftercare strategy of Industrial Promotion and Investment Corporation of Odisha (IPICOL) and revived the business unit to start manufacturing of Medical Devices such as Plaster of Paris Bandage (POP Bandage), Medical Tapes and Bandages, Other surgical dressings and external preparations products of Wound care & Wound management including sterile surgical wound dressing, medical disposable, adhesive bandages, absorbent gauze, etc. In 1995, a United Kingdom based Company, selected this Company exclusively as their business partner for manufacturing of their globally renowned Plaster of Paris Bandage B.P. under the brand name GYPSONA, in facilities for the regions of India, Sri Lanka, Bangladesh, and Nepal which continued till 1999, when they shifted manufacturing of Plaster of Paris Bandage B.P. to their own facility in Maharashtra. In 2002, Company entered into a partnership with the Indian subsidiary of a Fortune 50 Company of USA with exclusive rights for manufacturing and supply of Plaster of Paris Bandage B.P under brand name of 3M CAST and Elastic Adhesive Bandage to them and this business partnership continued uninterruptedly. The Company commenced manufacturing of Sterile Gauze Dressings, by enhancing the production as part of its expansion strategy in 2006. In 2009, it expanded the production activities to include Elastic Adhesive Bandage B.P.At present, Company is into manufacturing, trading and exporting of Medical Devices, Plasters of Paris Bandages (POP Bandage) and Other surgical dressings in India. The business encompass manufacturing of own products under the brands of GYPSOPLAST, GYPSONET, CAREPORE, fixcan, etc. Institutional sale to various Government Department through participation in tenders on platforms like GEM Portal; Trading of medical device and other surgical dressings and exporting of manufactured product to international markets.The Company is planning to make an Initial Public Offering of 44,40,000 Equity Shares of Rs 10/- each comprising a fresh issue of 35,52,000 Equity Shares and 8,88,000 Equity Shares through Offer for Sale.