Confidential listing · Maharashtra · Full sale
The short answer
A two-unit tablet and oral liquid manufacturing facility in Gokul Shirgaon MIDC, Kolhapur, Maharashtra is offered for full sale at an asking price of INR 34 crore (negotiable). Both units hold State manufacturing licences in Form 25 and Form 28, and together they carry about 35,500 sq ft of built-up area on about 19,368 sq ft of land.
The operator has been a contract manufacturer since 1992 for multinational and Indian pharmaceutical companies. In its last year of operation it earned about INR 7 crore in conversion charges, on products worth about INR 85 crore made for its principals, working six days a week. The facility has been shut for about four years.
What decides this deal: the cost and time to recommission an idle plant against the revised Schedule M, and a deal structure that works for two units held by two different legal entities. Both are covered below.
- Asking priceINR 34 Cr (neg.)
- SectionsTablets · Oral liquids
- Land (2 plots)~19,368 sq ft
- Built-up~35,500 sq ft
- LicencesForm 25 & 28, both units
- StatusShut ~4 years
- Last revenueINR 7 Cr conversion
- Operating since1992
How to read this page. Every area, equipment, utility, licence and revenue figure is declared by the seller and reproduced as supplied. Laafon Galaxy has not measured the premises, inspected the equipment or verified the licence record with FDA Maharashtra. Use this page to decide whether a site visit and document check are worth your time, not in place of them.
The facility
Photographs supplied by the seller. Select any image to enlarge it.
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Tablet granulationRMG, fluid bed dryer and sifter on epoxy flooring. -
Oral liquid manufacturingJacketed SS vessels with top-mounted stirrers. -
Production corridorViewing window into packing, flush doors, walkable ceiling. -
Quality control laboratoryHPLC, dissolution and instrument benches.
What you are actually buying
Licences and approvals
Drug manufacturing licences in Maharashtra are granted by the Food and Drug Administration, Maharashtra State, where the divisional Joint Commissioner (Drugs) acts as licensing authority [5]. Each of the two units holds its own Form 25 and Form 28, with declared validity running to 2027–2028.
- Form 25 (Rule 70): drugs other than those in Schedules C, C(1) and X. This covers ordinary tablets and oral liquids [4].
- Form 28 (Rule 76): drugs in Schedules C and C(1), excluding Schedule X [4].
The seller also declares WHO-GMP (COPP) status, and a company registration with the drug regulator in Sri Lanka. About 35 formulations are declared ready for marketing. Licence numbers, product permission lists and copies are released after a mutual NDA.
WHO-GMP is seller-declared and unverified. No certificate number or validity date has been provided. Because the plant has not produced for about four years, assume any WHO-GMP certificate has lapsed until the seller produces a current one. Treat export use as a fresh inspection route.
Two plots, one steam supply
| Declared item | Unit I (Plot D-33) | Unit II (Plot D-40) |
|---|---|---|
| Legal holder | Private limited company | Partnership firm |
| Land | 8,608 sq ft | 10,760 sq ft |
| Built-up | 23,000 sq ft | 12,500 sq ft |
| Flooring | 2 mm self-levelling epoxy in manufacturing; Kota stone elsewhere | 2 mm self-levelling epoxy in manufacturing; Kota stone elsewhere |
| Sanctioned power | 603 kW (MSEDCL) | 100 HP (MSEDCL) |
| Air handling | 14 AHUs, OPAL HVAC | 12 AHUs, OPAL HVAC |
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A single boiler supplies steam to granulation, coating and liquid manufacturing across both plots. Air-flow drawings for all AHUs and man-and-material movement drawings are declared available.
MIDC land is leasehold. Ask for both lease deeds, the balance lease period, any MIDC dues, and MIDC’s position on transfer consent and transfer charges before you price the land into your offer.
Declared equipment
| Line | Key equipment (as declared) |
|---|---|
| Tablets: granulation | RMG 600 L (100–200 kg batch); FBD 200 kg; blender 1,000 L (150–700 kg); 2 mechanical sifters 30″; starch paste kettle 120 kg |
| Tablets: compression and coating | 2 double-rotary presses, 27 and 45 station, B and D tooling from 5 to 16 mm; coating machine 48″ (about 115 kg) |
| Tablets: packing | 2 Alu-PVC rotary blister machines (BP-102); 12-track strip sealer. No Alu-Alu blister. |
| Oral liquids, Unit I | 3 jacketed vessels of 5,000 L (2,500 L minimum); 200 L preservative vessel; 2 in-line homogenisers at 2,500 L/h; monobloc filling and sealing at 110 bottles/min; labeller at 120 bottles/min |
| Oral liquids, Unit II | SS tanks of 3,000, 1,500, 1,000 and 500 L, plus three more of 1,000 L; 6-head linear filler at 85 bottles/min; 4-head monobloc at 60 bottles/min; air-jet bottle cleaner; 2 bottle washers at 96 bottles/min; sticker labeller at 75 bottles/min |
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Declared single-shift output: about 2 lakh blisters, 40,000 Alu strips and 50,000 bottles per day. Bottle change parts cover 50 to 400 ml. With 15,000 L of jacketed vessel capacity in Unit I alone, liquid volume is this plant’s strongest asset.
Gaps to price in. There is no capsule section, no Alu-Alu blister line and no nitrogen plant (declared as installable). These limit the plant for moisture-sensitive tablets. After four idle years, rated output is a ceiling, not a promise. Every machine needs requalification before a commercial batch.
Utilities, as declared
- Water, Unit I: RO with EDI (KOMAL, with Electropure EDI), declared at 3,000 L; SS316L 1,200 L generation tank and SS316L distribution loop.
- Water, Unit II: demineralised water plant, 3,000 L, with SS316L pipelines.
- HVAC: 26 AHUs across both units (14 + 12), with Grade D classified manufacturing areas.
- Steam: Thermax coil-type non-IBR boiler, 600 kg, shared by both plots.
- Compressed air: oil-free compressors, 180 CFM (ELGI) and 160 CFM (Chicago Pneumatic), with 0.1 and 0.01 micron filtration at point of use.
- Power backup: Kirloskar DG set, declared as 160 kVA.
- Effluent: ETP of 10,000 L per day (Enviro Electrodyne).
Check Unit II’s water before anything else. A demineralised water plant is not automatically a Purified Water system. Oral liquids need water meeting the Indian Pharmacopoeia Purified Water monograph, with a qualified generation and distribution system. Confirm which system feeds the Unit II liquid line.
Quality control
The QC laboratory is declared with chemical and instrument sections, and a microbiology laboratory. The photographs show HPLC and dissolution equipment. Three MACK stability chambers are declared at 40°C/75% RH, 30°C/65% RH and 25°C/60% RH, with 21 CFR Part 11-compliant printing. For Zone IVb export markets, confirm that one chamber can be qualified at 30°C/75% RH.
Restarting an idle plant under revised Schedule M
The revised Schedule M was notified as G.S.R. 922(E) on 28 December 2023 [1]. Manufacturers with turnover up to INR 250 crore had until 31 December 2025 to comply, provided they filed an upgradation plan [2]. The Drugs Controller General of India has since directed State regulators to inspect against the revised standard [3].
This unit stopped before that window opened. It will therefore restart at the revised standard, with no transition period. The seller describes the Schedule M upgrade as “in progress”. Ask for the written gap assessment before you negotiate.
Budget for these before the first commercial batch:
- A State FDA inspection of the restarted facility.
- Requalification of all idle equipment (IQ/OQ/PQ).
- HVAC revalidation, including HEPA filter integrity and replacement where needed.
- Water system sanitisation and fresh performance qualification.
- Renewal of the Maharashtra Pollution Control Board consent to operate, if it has lapsed.
- Hiring competent technical staff and a workforce of about 85 people at full operation.
- Rebuilding the order book, because principal-company contracts from four years ago have likely lapsed.
Run a first-pass view on the Revised Schedule M readiness checker.
What happens to the licences on sale
A licence attaches to the licensee, not to the building. The Form 25 and Form 28 conditions deem a licence valid for only three months after a change in the constitution of the firm, unless a fresh licence is taken in the new constitution [4]. Here the two units are held by two different kinds of entity, so each needs its own route.
| Unit and route | Licence outcome |
|---|---|
| Unit I: buy the company (shares) | The licensee is unchanged and the licence continues. You inherit the company’s history and liabilities. |
| Unit II: change of partners in the firm | This is a change in constitution, and the three-month clause applies. File for a fresh licence in the new constitution before completion. |
| Either unit: buy the assets only | A fresh licence is needed in your own name, with a fresh inspection against the revised Schedule M. |
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Location: Gokul Shirgaon MIDC, Kolhapur
Gokul Shirgaon MIDC lies in Karveer taluka, on the Pune–Bengaluru NH-48 corridor, a few kilometres from Kolhapur airport at Ujalaiwadi. Pune is roughly 230 km by road. The estate is predominantly engineering, and the seller describes the neighbouring units as 100% engineering. That lowers cross-contamination risk from neighbours, but you should expect a thinner local pool of pharma-trained staff than in Baddi or Goa.
Eight questions to put to this seller
These go with our full 50-point pharma plant acquisition checklist.
- When did production stop, and for which financial year is the INR 7 crore conversion revenue stated?
- Provide the Schedule M gap assessment, any upgradation plan filed, and the last FDA Maharashtra inspection report.
- Provide the product permission lists endorsed on all four licences, with validity dates.
- Provide the current WHO-GMP certificate and its validity, if one exists.
- Confirm the MIDC lease terms, dues and transfer position for both plots.
- Confirm which water system feeds each liquid line, and provide its last qualification report.
- Provide the status of the MPCB consent to operate for both units.
- Will the deal be a share purchase, a change of partners, or an asset sale for each unit?
Deal terms and ideal buyer
The offer is a full sale of both units: leasehold land, buildings, plant and machinery, utilities, licences and documentation, including the site master file. The asking price is INR 34 crore, negotiable. Financials, licence copies and technical documents are shared after a mutual NDA and buyer screening.
The best fit is one of three buyers. A marketing or PCD company in western or southern India that wants its own tablet and liquid capacity. A CDMO short of large-batch oral liquid capacity. Or an export-focused group that can use the declared Sri Lanka registration as a starting point. Whoever buys needs in-house quality leadership that can run the recommissioning programme.
Register interest in this Kolhapur unit
Send your company name, business model and intended use of the plant with your first message. Quote reference Pharma Plant For Sale in Kolhapur.
Darshan Singh · Promoter representative
Email: contact@laafon.com
Phone / WhatsApp: 9812446733
Frequently asked questions
The asking price is INR 34 crore, negotiable. It covers both units in Gokul Shirgaon MIDC: about 19,368 sq ft of leasehold land, about 35,500 sq ft of built-up area, plant and machinery, utilities, licences and documentation.
No. The seller declares that the facility has been shut for about four years. In its last year of operation it earned about INR 7 crore in conversion charges, on products worth about INR 85 crore made for its principal companies, working six days a week.
The plant makes tablets (granulation, compression, coating, Alu-PVC blister and strip packing) and oral liquids (bottles from 50 to 400 ml). There is no capsule section and no Alu-Alu blister line. Confirm the exact scope against the product permission lists endorsed on the licences.
Each of the two units holds a Form 25 and a Form 28 manufacturing licence from the Food and Drug Administration, Maharashtra State, with declared validity to 2027–2028. WHO-GMP status is declared by the seller but not yet evidenced by a current certificate.
Not yet. The seller describes the upgrade as in progress. Because the plant stopped before the MSME compliance window that closed on 31 December 2025, it will be inspected against the revised Schedule M from the day it restarts. Budget for the gap closure, requalification and revalidation before your first batch.
Not automatically. For Unit I, buying the private limited company keeps the licensee unchanged. For Unit II, which is held by a partnership firm, a change of partners is a change in constitution, which leaves the licence valid for only three months unless a fresh licence is taken. An asset-only purchase needs fresh licences for both units.
The overview on this page is shared at enquiry stage. Financials, licence copies, the site master file, drawings and qualification records are released after a mutual NDA and buyer screening. Site visits are arranged after the NDA is signed, so your technical team can inspect both units.
References
- Ministry of Health and Family Welfare, Government of India. Drugs (Amendment) Rules, 2023: revised Schedule M. Notification G.S.R. 922(E), 28 December 2023. Available from: notified text (PDF). Accessed September 2026.
- Business Standard. Over 8.5K MSME pharma units get 1-yr breather to adopt Schedule M standards. 12 February 2025. Available from: business-standard.com. Accessed September 2026. Secondary source.
- Business Standard. CDSCO asks state units to start inspections under Schedule M norms. 8 November 2025. Available from: business-standard.com. Accessed September 2026. Secondary source.
- Drugs and Cosmetics Rules, 1945. Form 25 (Rule 70) and Form 28 (Rule 76), including the licence condition on change in constitution of the firm. Specimen licence text: Form 25 and 28 (PDF). Accessed September 2026.
- Medical Education and Drugs Department, Government of Maharashtra. Food & Drugs Administration: divisional Joint Commissioners (Drugs) as licensing authority. Available from: medical.maharashtra.gov.in. Accessed September 2026.
This listing is commercial and technical information for prospective buyers. It is not investment, legal or tax advice, and it is not an offer to invest. All areas, equipment, utilities, licence, revenue and compliance details are declared by the seller and have not been independently verified by Laafon Galaxy Pharmaceuticals. Verify each against original documents and a physical inspection before committing funds.
