Calcutta, May 30: Wander, a Mumbai-based pharmaceuticals company, may launch a Rs 100-crore initial public offer (IPO) to fund its growth and expansion plans over the next three years.

Speaking on the plans for the IPO, Wander president Satnam Chawla said the details of the offer are being finalised and a proposal will be placed before the Securities and Exchange Board of India soon. “The offer will hit the market by the year-end,” he said.

Wander is in the process of finalising its merger with sister concern, Pearl Organics — an anti-diabetic bulk drug manufacturer with a Rs 60-crore turnover.

“The merger will help us tap the vast US market,” said Chawla. “A presence in the US will allow us to leverage the advantage of the branded generic segment. It will also contribute to the revenue by adding critical mass to the sales.”

“Wander has set a target of Rs 250-crore turnover for 2008,” said Chawla. “Last year, we registered Rs 37 crore turnover and expect to achieve Rs 50 crore during the current fiscal.”

Originally a subsidiary of Sandoz, the Indian promoters took control of Wander’s operations in the country in 1995, while Novartis globally acquired Sandoz and Wander.

Some of the leading brands of the formulation company include Triaminic, Coriminic and dietic brand Ovaltine. The company is currently controlled by a group of private investors. It has manufacturing facilities in Patalganga and Mumbai.

Wander has adopted a two-pronged strategy to develop the existing brands and strengthen product portfolio through brand acquisitions and mergers. Acquisitions will include both licensing and buyouts.

The company plans to launch products in the lifestyle disease treatment segment, mainly anti-diabetic and anti-hypertension.