Venus Remedies Ltd received the first disbursement of ₹7.5 crore under the Government’s Production Linked Incentive (PLl) scheme for the financial year 2022-23, which covers 75% of the total incentive due to the company for the year.
The company has said that it belongs to the Category C of nan-MSME pharmaceutical companies chosen under the PLl scheme.
Commenting on the achievement, Saransh Chaudhary, CEO, Venus Medicine Research Centre, said, “We are thrilled to receive the first disbursement under the PLl scheme, which emphasises our commitment to driving innovation, creating employment opportunities and contributing to the country’s economic development.”
Venus Remedies stock inched up by 0.16 per cent on the NSE to trade at ₹338.25 as of 10.53 am on Wednesday.