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Sandu Pharmaceutical (SPL) was established in 1985 and manufactures ayurvedic medicines with its plant located at Chembur in Bombay. The company markets 30 different ayurvedic products. Bhaskar Sandu is the chairman. Its other manufacturing unit is located at Pilerne Industrial Estate in Goa. SPL came out with a public issue of 17. 70 lac equity shares at par, aggregating Rs 1. 77 cr, in Sep. '94, to part-finance its new project in Goa costing Rs 7.