IOL Chemicals and Pharmaceuticals witnessed a sharp rise in share price on Thursday after the company announced completion of its de-bottlenecking and re-engineering project for its Ibuprofen manufacturing facilities at Barnala with project cost of Rs 240 million

The company has also commenced the enhanced production from today i.e Nov. 19, 2015. Post this completion, the capacity of Ibuprofen plant increased to 6200 TPA.

The Ibuprofen manufacturing facilities have been approved by USFDA, ANVISA, EDQM WHO & MOH Japan.

The company is already exporting its Ibuprofen in regulated & Emerging markets i.e. Europe, Latin America, Middle East, etc and with the recent approval from USFDA, the company is expanding its business of Ibuprofen in USA.

The company's manufacturing facilities hold CEP certification (Certificate of Suitability) for its products Ibuprofen, Metformin Hydrochloride & Lamotrigine from European Directorate for the Quality of Medicines & HealthCare (EDQM) authorities, Council of Europe, France.

These approvals will facilitate the company to build and sustaining the growth by its API business in coming years, being the only integrated Ibuprofen player globally, by exploring the higher value regulated markets.

Shares of IOL Chemicals and Pharmaceuticals are trading at Rs 92.80, up Rs 7.75, or 9.11% at the Bombay Stock Exchange (BSE) on Thursday at 11:42 a.m.

The scrip has touched an intra-day high of Rs 94.60 and low of Rs 85.25. The total volume of shares traded at the BSE is 70,788.