Shilpa Medicare Ltd. formerly known as Shilpa Antibiotics was incorporated as a private limited company in Nov.'87 and has been promoted by Vishnukant C Bhutada and his associates. Shilpa Medicare Limited (SML) is engaged in the manufacturing of Active Pharmaceutical Ingredients (API) Formulation and Development service. The company started its operations as API manufacturer way back in 1987 at Raichur Karnataka- India. The company started commercial production in November 1989. In November 1993 Shilpa Medicare Limited was converted into a Public Limited Company. SML deals in high-quality Active Pharmaceutical Ingredients (APIs) Bulk drug Intermediates Formulations and Development service New Drug Delivery Systems Peptides / Biotech products and Specialty Chemicals etc. using sophisticated technology meticulously in order to comply with laid down international standards/specifications. SML is among the world's leading suppliers of Oncology/Non-Oncology APIs and intermediates.Circa 1992 the company installed production facilities to manufacture sodium methoxide. During FY 2015 projects of five products transfer executed successfully other projects of eight products have been completed and ready for transfer to plant. Ten new molecules have been taken for development considering future demand.During FY15 as part of mobilization of resources for the purpose of expanding the operations of the Company fresh funds were raised by allotting 1764705 equity shares of Rs.2/- each to Tano Mauritius India FVCI II the existing member of the Company at a premium of Rs 423/-each on 15 May 2014 on preferential basis.During FY2016 the company after obtaining the approval of members at the 28th Annual General Meeting held on 28 September 2015 divided the face value of existing equity share of Rs.2/- into two equity shares of Re.1/- each fully paid-up with effect from the Record Date specified. Raichem Medicare Pvt Ltd. a subsidiary of Shilpa Medicare completed installation of all machineries during the FY 2015-2016 and recruited all the key personnel also commenced trial production in August 2015 after the Audit by External Consultant from Italy and started commercial production in December-2015. The subsidiary obtained the Drug Manufacturing license and GMP certificate and consent from pollution control board for operating the plant. In FY 16-17 Shilpa Medicare successfully launched the generic versions of Vidaza Injection & Xeloda Tablets. During the year under review as part of mobilization of resources for the purpose of expanding the operations of the company fresh funds were raised by allotting 3025000 equity shares of Re.1/- each to TA FII Investors Limited at a premium of Rs.569/- each on 26 December 2016 on preferential basis.Pursuant to the order dated 24 November 2017 of Hon'ble National Company Law Tribunal Bangalore Bench the Navya Biologicals Private Limited has been merged with the Company with effect from 1 April 2016 being the appointed date for merger.In FY18 Shilpa Medicare entered into Share Purchase agreement with joint partner ICE SPA Italy to dispose off its entire stake in Raichem Medicare Private Limited. According to the terms of agreements Shilpa Medicare has so far disposed off 24% stake in the company for which the consideration has already been received. The company is in the process of disposing the remaining 26% with prior approval of Reserve Bank of India.