History of Carol Info Services Ltd
YEAR EVENTS 1973 - A Comp. named Wockhardt Pvt. limited was incorporated to take over the business of partnership firm Wockhardt Pharmaceuticals.
1979 - The Comp. was incorporated on 29th November as a private Limited. The Comp. was initiated as a partnership firm promoted by Khorakiwala family in the year 1959 & was known as Worli Chemicals.
- The name was changed to Wockhardt Pharmaceuticals & continued its operations as a partnership firm manufacturing pharaceuticals in a factory located at Worli, Mumbai.
- The Comp. set up a new manufacturing plant for pharmaceutical formulation at Chikalthana, Aurangabad, Maharashtra. Another Comp. Wockhardt Synchem Pvt. limited was floated to manufacture bulk drugs at Ankleshwar in Gujarat.
1983 - Wockhardt Pvt. limited & Wockhardt Hitech Laboratories Pvt. Ltd. was floated to manufacture nutrition foods at Kalal in Gujarat. Wockhardt Pvt. limited & Wockhardt Hitech Laboratories Pvt. Ltd. were amalgamated with Wockhardt Synchen Pvt. limited & the name was changed to Wockhardt limited & was converted into a Pub. Ltd. Company.
1989 - The Comp. set up an velia modern facility at Waluj to manufacture pharmaceuticals. Wockhardt diversified into medical services by setting up a day care facility in Calcutta.
1990 - The Comp. set up a IV fluid manufacturing plant at Waluj under technical assistance with pharmaplan GmbH of Germany.
1994 - 115,50,000 No. of Equity shares allotted to promoters [of these 83,70,150 shares issued as bonus sharess]. 34,50,000 No. of equity shares were issued in December 1992 at a premium of Rs 185 per shares as follows:
- [is] 4,50,000 shares on Rights basis in proportion 1:25.11 shares held. [none were taken ups] [Of these 2,09,600 shares were issued to the promoters and balance 2,40,000 shares issued to the publics]. Balance 30,00,000 shares were issued to the public.
- 26,14,151 No. of Equity shares representing 26,14,151 GDRs issued in Febraury. 175,30,826 bonus shares issued in prop. 1:1 in 1995.
1996 - Thirty seven new products were introduced during the year viz. Sparx [Antibacterials], Pyrexon [Antipyreticss] Wokex 3 [anti- tuberculars], Kaizeun CD [24 hours release Dietiagems] Myodura & Myo-24 [for hypertensions] etc. The Hospital introduced six anaesthetic range of products in addition to increasing intravenous fluid business.
- The Company bio-agro business produces biological growth promoter [Biozymes] Biopesticidal [Halts] & a range of unique and popular crop protection products.
- The Comp. allotted 295,00,000 cumulative preference shares as follows:
- [is] Series A - 12.5% 100,00,000 shares allotted in January 1997 redeemable after 36 months from the date of allotment;
- [iis] Series B - 12.5% 20,00,000 shares allotted in January 1997 redeemable after 18 months from the date of allotment;
- [iiis] Series C - 11% 20,00,000 shares allotted in May 1997 redeemable after 24 months from the date of allotment;
- [ivs] Series D - 11% 5,00,000 shares and Series E - 50,00,000 shares allotted in June 1997, redeemable after 24 months from the date of allotment;
- [vs] Series F - 11.5% 100,00,000 shares allotted in June 1997 redeemable after 36 months from the date of allotment.
- Wockhardt International Ltd., Wockhardt Europe limited & Wockhardt Healthcare limited are subsidiaries of Company.
1997 - Crisil has assigned a AA+ rating to Wockhardt Limited Rs.100 crore NCD issue indicating strong safety. And a P1+ rating has been given to the company existing Rs.30 crore commercial paper programme.
- Wockhardt is also setting up a joint venture Comp. with Rhein Biotech of Germany in Maharashtra for production of bio-technology based bulk drugs & formulations.
- City-based pharmaceutical major Wockhardt is in the process of setting up a state-of-the-art facility near Chandigarh for the manufacture of paediatric & medical nutritional products.
1998 - Wockhardt has entered into an agreement with the Tata Group to buy out their 47 per cent stake in Merind.
- Wockhardt Ltd is working on the country first human insulin project. The company, in collaboration with German biotechnology research firm Rhein Biotech, has reached an advanced stage of development, & will set up pilot plants for clinical trials by the end of year.
- Wockhardt, the Mumbai-based pharma company, has entered into a marketing alliance with Ferrings of Denmark through its recently acquired Wallis Laboratories of UK.
- Wockhardt Ltd, is the world second largest producer of the antitussive drug Dextromethorphan.
- Wockhardt bulk drug manufacturing plant at Ankleshwar has been awarded the prestigious ISO 9002 certificate from SGS Yarsely ICS, UK, an internationally recognised certifying authority.
- Wockhardt Ltd has managed to prune the workforce at the Bhandup unit of its subsidiary, Merind Ltd.
- Wockhardt Ltd has developed two new anti-infective compounds and is expected to seek global tie-ups for further clinical studies as part of its new drug discovery programme.
- Chairman of Wockhardt Ltd, Habil Khorakiwala has been awarded the lifetime award achievement award of Indian Analytical Instruments Association at their conference at Mumbai.
1999 - Wockhardt Health Institute has become the country first hospital to have tied up with a health insurance company, the US-based Blue Cross and Blue Shield Association.
- Loss making Wallis Laboratories, a UK based subsidiary of Wokchardt Ltd, is set to turn around in the current financial year.
- The board of directors of Wockhardt Ltd has approved the proposed de-merger of Comp. into Wockhardt Ltd & Wockhardt Life Sciences Ltd.
- Wockhardt Ltd intends to launch a slew of new products annually, actively scout for acquisitions, set up a chain of specialty hospitals, & enter into licensing & marketing joint ventures as part of its growth strategy for new millennium.
- Wockhardt moved upstream by setting up a milk processing plant in Punjab to process 1.4 lakh litres of milk per day.
2000 - Wockhardt Lifesciences, a subsidiary of pharma major Wockhardt, is set to take over operations of state-run Gokuldas Tejpal [GTs] hospital from the government of Maharashtra.
- The State Government is setting up a new corporate entity called `Maharashtra Health Services' in which the state government will hold 49 per cent of equity.
- The Bangalore-based Wockhardt Hospital and Heart Institute has launched its online hospital bills payment service -- Life Link -- through its Web site, www.whhi.com.
- Wockhardt has signed a co-marketing agreement wit Bayer AG for its anti-diabetic drug Acarcbase.
2001
-Ties up with US-based Harvard Medical International, is the latest to jump onto the bandwagon.
-High Courts at Chennai & Mumbai have issued orders for amalgamation of Comp. with Wockhardt Life Sciences. The merger is effective from January 2, 2000.
-Wockhardt Life Sciences has transferred its hospitals business to Wockhardt Hospitals for Rs 18 crore.
2002
-Sells its Rs 80 crore parenteral intravenous [IV fluidss] business to Baxter India for a price of Rs 195 crore [$ 40 millions]
-Mr. Habil F Khorakiwala, Chairman and Managing Director has resigned from the Board of Comp. with immediate effect.
2003
-Board approves subject to the approval of Shareholders, the Agro Chemicals Business of Comp. be hived off into a wholly owned subsidiary of company.
-Disposed of assets of its arm Merind Ltd to the holding Comp. Khorakiwala Investments & Holdings Pvt Ltd for Rs 9.28 crore,
- Sells its 95.81% stake in drugmaker, Merind, to a promoter Comp. booking a loss of Rs 86 crore.
-Name of Comp. has been changed from Wockhardt Life Sciences Limited to 'Carol Info Services Limited' with effect from November 7, 2003.
-Board approves delist shares of Comp. from Ahmedabad and Calcutta Stock Exchanges
-The name of Comp. has been changed from Wockhardt Life Sciences Limited to 'Carol Info Services Limited.
2007
Carol Info Services Ltd has informed that the Board of Directors of Comp. at its meeting held on January 08, 2007 has appointed Dr. G B Parulkar, the Chairman of Comp. as the Chairman and Managing Director of Company, for a period of five years, effective January 01, 2007.
