Renata to buy land to expand Rajendrapur factory

Listed and leading pharmaceutical company Renata Ltd has decided to purchase 560 decimals of land along with a carton factory at Rajendrapur in Gazipur to expand its factory.

It will cost Tk 51 crore, excluding registration and incidental cost, the company said today in a disclosure posted on the website of the Dhaka Stock Exchange (DSE).

Last Monday, Renata announced that it is going to take over its two subsidiaries—Purnava Ltd and Renata Agro Industries—after securing approval from the High Court Division of the Supreme Court of Bangladesh.

The pharma company also announced that it will hold an extraordinary general meeting to get approval from the shareholders about the amalgamation of its two subsidiary.

Purnava Ltd promotes non-medicated healthcare solutions such as mosquito repellents, hand sanitizers and so on.

Renata Agro Industries is an integrated poultry farm that produces day-old chicks and is engaged in commercial broiler operations.