Borosil Scientific debuts on stock exchange
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Borosil Scientific debuts on stock exchange

This strategic decision will unlock significant value for our scientific and industrial products business

  • By ICN Bureau | June 07, 2024

Borosil Scientific Limited, is a part of a leading Indian conglomerate renowned for its expertise in scientific laboratory glassware and diversified laboratory products, announced its successful listing on both Stock Exchanges, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The milestone was marked with the ringing of the opening bell at BSE in the presence of Pradeep Kheruka, Promotor of Borosil Group, Vinayak Patankar, Whole-time Director and Chief Executive Officer and Kewal Handa, Chairman and Independent Director and Chandra Kishore Mishra, Independent Director of Borosil Scientific Limited, announcing the listing of the Company's Equity Shares. This significant milestone marks a new chapter in the company's legacy of innovation and excellence in the scientific and industrial sectors.

Notably, the listing follows the strategic demerger of the scientific business from Borosil Limited, completed in December' 2023. This restructuring has led to the formation of Borosil Scientific Limited, which now encompasses a comprehensive portfolio including laboratory instrumentation, pharmaceutical primary packaging, process systems, along with laboratory glassware and consumables. The demerger aims to sharpen the focus on the scientific division, allowing for enhanced operational efficiency and targeted growth in the global market.

Sharing his thoughts on this significant milestone, Vinayak Patankar, Whole-time Director and Chief Executive Officer of Borosil Scientific Limited said, "As we move forward with the demerger, we are confident that this strategic decision will unlock significant value for our scientific and industrial products business. This restructuring will enable us to attract business-specific investors and strategic partners, providing greater flexibility in accessing capital and fostering focused strategies for sustained growth. We are actively expanding our presence in the pharmaceutical industry, and our brand value has received widespread recognition across the country and globally."

The demerger aims to unlock the value of the scientific and industrial products business, allowing each entity to achieve a valuation that reflects their distinct risk-return profiles and cash flow potential. By separating the businesses, the company can attract investors and strategic partners specific to each business. This will provide greater flexibility in accessing capital, focusing on tailored strategies, and enhancing specialization for sustained growth. Ultimately, this will help in de-leveraging each business in the long run.

The segregation of the scientific and industrial products business from Borosil Limited will allow both, Borosil Limited & Borosil Scientific Limited, to concentrate on their respective business areas, enabling them to explore opportunities more effectively within their domains. Each business will benefit from a focused management approach, driving growth in their specific verticals and reducing interdependencies, thus minimizing risks between the businesses.

Borosil Scientific Limited now comprises of four business divisions - Laboratory Glassware & Consumables, a comprehensive range of laboratory instruments under the brand 'Labquest', primary packaging glass vials and ampoules for the pharmaceutical industry and Glass Process System for laboratory as well as industrial applications.

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