Versuni India Opens State-of-the-Art Ahmedabad Factory Set to Create more than 1,000 New Jobs

Telugu super news,3rd January 2024, India: Stepping into the New Year with a resolute commitment to growth and innovation, Versuni India (formerly known as Philips Domestic Appliances), marks a significant leap in its commitment to India’s growth by unveiling its new manufacturing facility in Ahmedabad today. This momentous occasion, graced by the esteemed presence of Global CEO Henk S. de Jong and India CEO Gulbahar Taurani, solidifies Versuni’s unwavering commitment to India’s potential as a high-growth market. 

With an investment to bolster local infrastructure and foster employment opportunities, Versuni anticipates the creation of more than 1000 new jobs within the community over the next three years. These positions will span various fields including engineering, manufacturing, logistics, quality control, and administrative roles. They will contribute significantly to the region’s economic prosperity, create meaningful job prospects, and empower individuals to contribute to Versuni’s success in India.

The cornerstone of this facility will be the production of widely acclaimed flagship products including Philips Airfryers and Garment Steamers, embracing the paradigm shift in Indian consumer preferences. In response to the soaring demand, Versuni is manufacturing the Airfryer for the first time in India with a fully integrated automatic robotic coating line. Versuni is committed to local manufacturing with an initial annual capacity of 500,000 AirFryers in phase 1 and 200,000 Garment Steamers in phase 2, which can be scaled up to a total of one million pieces per year to keep pace with the business demand. The facility also adheres to the highest global standards, including CE certification, ensuring that our manufacturing processes meet the stringent quality benchmarks demanded by the international market.

Commenting on the announcement, Henk de Jong, CEO, Versuni, said, “The inauguration of our Ahmedabad factory exemplifies Versuni’s dedication to India as a strategic growth market, as we continue to deliver exceptional products and services that drive forward our purpose of turning houses into homes. Today, around 70% of the products that we market to consumers in India are produced in this country. We aim to increase this to 90% in the coming years thanks to the strategic decision to open up a new factory in Ahmedabad.” 

Versuni’s journey stands as a testament to the power of innovation and the significance of customer focus. The new factory opening follows Versuni’s recent foray into India’s home security devices segment in 2023, eliciting an encouraging response in terms of consumer engagement and sales. It aligns with Versuni’s commitment to evolving and diversifying its product offerings in response to emerging market needs. Its consumer-centric approach, focused on understanding consumer behavior and identifying unmet needs, continues to drive innovation and product evolution across its global portfolio.

Sunrest Lifescience Ltd plans to raise up to Rs. 10.85 crore from public issue; IPO opens Nov 7-based Pharmaceutical company

Telugu super news,Ahmedabad, November 7th,2023: Ahmedabad-based Pharmaceutical company, Sunrest Lifescience Ltd is planning to raise Rs. 10.85 crore from its SME public issue. The public issue opens for subscription on November 7. The company has received approval to launch its public issue on NSE Emerge Platform of National Stock Exchange. Proceeds of the public issue will be utilised to fund company’s expansion plans including meeting working capital requirements and General Corporate purpose. Mark Corporate Advisors Private Limited is the lead manager of the issue. Public issue will close on November 09.

The initial public offering comprises of a fresh issue of 12.91 lakh equity shares of face value Rs. 10 each at a price of Rs. 84 per share (including a premium of Rs. 74 per equity share) aggregating up to Rs. 10.85 crore. Minimum lot size for the application is 1,600 shares which translates in to investment of Rs. 1.34 lakh per application. Retail allocation for the IPO is kept each at 50% of the issue. Market maker reservation portion is 65,600 equity shares.

Incorporated in 2017, Sunrest Lifescience Limited offers a diverse range of healthcare and personal care products. The company’s product range includes Capsules, Tablets, Syrup, Ointment, Gel, mouthwash, Solution, Suspension, Dry Powders, and Toothpaste. Sunrest Lifescience’s product portfolio encompasses an extensive range of drugs such as Anti-Bacterial, AntiDiarrheal, AntiFungal, Anti Malerial, Anti Diabetic, Dental Cure, Anti Protozol, Anti Histamine, Anti-Hypertensive drugs, Cosmetic, Anti Parasitic, Multivitamin, Multimineral, Nutraceutical, and Anti-inflammatory.

With 18 Registered Trademarks for 32 products, Sunrest Lifescience is committed to delivering high-quality products to its customers. The company gets its products manufactured by third-party pharma product manufacturers which also includes Trilend Pharmaceuticals Pvt Ltd (Trilend), a Sunrest group company. The company has various third-party manufacturers across these states: Gujarat, Punjab, Maharashtra, Haryana, Himachal Pradesh, Uttarakhand and Madhya Pradesh.

Mr. Nikhilkumar Thakkar, Mr. Amitbhai Thakkar, Mr. Bhagyesh Parekh and Mr. Bharatkumar Thakkar are the promoters of the company. Promoter holding post-issue will be 69.91%.

For the FY22-23 company reported total revenue of Rs. 24.67 crore and Net Profit of Rs. 2.04 crore. As on 30 June 2023, Reserves & Surplus stands at Rs. 86.60 lakh, Total Assets at Rs. 17.06 crore and Net Worth of Rs. 3.86 crore. Shares of the company will be listed on NSE’s Emerge platform.

IPO Highlights – Sunrest Lifescience Ltd
IPO Opens onNovember 7, 2023
IPO Closes onNovember 9, 2023
Issue PriceRs. 84 Per Share
Issue Size (No of Shares)1,291,200 Shares
Issue Size (Rs. Cr)Rs. 10.85 crore
Lot Size1,600 Shares
Listing onNSE Emerge Platform of National Stock Exchange