KCP Ltd. has decided to sell its biotech unit in Andhra Pradesh. A decision to this effect has been taken by the board of KCP.
The plant is situated at Genome Valley at Turkapally. In a filing with the Bombay Stock Exchange (BSE), the company said it would now seek the approval of the shareholders for the same.
According to the company website, the bio-tech unit has a tie-up with Central Food Technological Research Institution.
KCP Biotech’s “natural colours has the distinctive touch of India, produced from raw material cultivated through indigenous knowledge systems,” it further claims.
The board of KCP has also approved interim dividend on redeemable, cumulative, non-convertible preference shares of Rs.10 each held by Tata Capital Financial Services Ltd. from April 1 to December 8.