Agenda for Approval Committee for SEZ Pune Cluster scheduled on 21 March 2025. — 10-9-serum-bio-pharma-park-sez

SEEPZ SPECIAL ECONOMIC ZONE ANDHERI (EAST), MUMBAI.

AGENDA FOR

MEETING OF THE APPROVAL COMMITTEE FOR SECTOR SPECIFIC SPECIAL ECONOMIC ZONE FOR BIOTECHNOLOGY AT PUNE OF M/S. SERUM BIO PHARMA PARK-SEZ.

DATE : 21.03.2025

TIME : 10.30 A.M.

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MEETING OF THE APPROVAL COMMITTEE FOR SECTOR SPECIFIC SPECIAL ECONOMIC ZONE FOR BIOTECHNOLOGY AT PUNE, UNDER THE CHAIRMANSHIP OF DEVELOPMENT COMMISSIONER, SEEPZ-SEZ ON 21.03.2025

INDEX

Agenda Item No.

Subject

Agenda Item No. 01 :- Confirmation of the Minutes of the Meeting held on 11.12.2024 Agenda Item No. 02 :- Action taken report for the Minutes of the meeting held on 11.12.2024 Agenda Item No. 03 :- Application for merger of units of M/s. Serum Institute of India Pvt. Ltd. (Unit 1, 2 & 4)

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इकाई ने थम Pलॉक अवध के पांचव6 वष यानी #व@ीय वष 2023-24 म6 439.99 करोड़ Oपये के अनुमा#नत #नयात के मुकाबले O. 403.58 करोड़ का #नयात राजव हासल #कया है�इकाई ने #व@ वष 2023-24 म6 संचयी आधार पर 364.23 करोड़ Oपये का सकाराNमक एनएफई हासल #कया है�इकाई ने 1184 (पुOष-592, म#हला-592) को रोजगार >दया है� Minutes of the 98th Meeting of the Approval Committee held under the Chairmanship of Zonal Development Commissioner SEEPZ-SEZ, Mumbai for Sector Specific Special Economic Zone for IT/ITES of M/s. Embassy Pune TechZone Pvt. Ltd.-SEZ, Pune, held on 11.12.2024 Name of the SEZ M/s. Embassy Pune TechZone Pvt. Ltd.- SEZ Sector IT/ITES Meeting No. 98th Date 11.12.2024 Agenda Item No.01: Confirmation of the Minutes of the 97th meeting held on 15.10.2024 After deliberation, the Committee confirmed the minutes of the 97thmeeting of Approval Committee held on 15.10.2024. Agenda Item No.02: Action taken report for the Minutes of the meeting held on 15.10.2024 After deliberation, the Committee noted the action taken report for the meeting held on 15.10.2024 Agenda Item No. 03: Agenda Item No. 06: Monitoring of performance for M/s Infosys BPM Ltd. After deliberation, the committee noted the performance of the unit for 5 years i.e., from FY 2019-20 to 2023-24 of 1st Block period, in terms of Rule 54 of SEZ Rules, 2006. As detailed below: The unit has achieved export revenue of Rs. 403.58 Cr. against the projected export of Rs 439.99 Cr. on cumulative basis in 5th year i.e., FY 2023-24 of 1st block period. The unit has achieved positive NFE of Rs. 364.23 Cr. in FY 2023-24 on cumulative basis. The unit has achieved employment of 1184 (Men-592, Women-592).

मैसस सीरम बायो फामा पाक - एसईजेड के बायो फामा सेटर के #वश& #वशेष आ(थ*क +े, के लए +े,ीय #वकास आयु. सी/ज़-एसईजेड, मुंबई क2 अ4य+ता म6 12.12.2024 को आयो8जत अनुमोदन सम#त क2 49व: बैठक का #ववरण�1 सेज़ का नाम मैसस सीरम बायो फामा पाक - एसईजेड 2 सेटर बायो फामा 3 बैठक
49व: 4 तारीख 11.12.2024 एज6डा आइटम नंबर 01: >दनांक 15.10.2024 को आयो8जत 48व: बैठक के कायवृ@ क2 पु#& #वचार-#वमश के बाद, सम#त ने 15.10.2024 को आयो8जत 48व: अनुमोदन सम#त क2 बैठक के कायवृ@ क2 पु#& क2�एज6डा आइटम नंबर 02: 15.10.2024 को आयो8जत बैठक के कायवृ@ के लए क2 गई कारवाई Aरपोट�#वचार-#वमश के बाद, सम#त ने 15.10.2024 को आयो8जत बैठक के लए क2 गई कारवाई Aरपोट नोट क2 है�

एज6डा आइटम नंबर 03: मॉ#नटmर*ग ऑफ परफॉमnस फॉर मेसस सीरम इंट"jूट ऑफ इंडया ाइवेट लमटेड (यू#नट नं. VI) :के लए : #वचार-#वमश के बाद, सम#त ने एसईजेड #नयम, 2006 के #नयम 54 के अनुसार, पहली Pलॉक अवध के #व@ वष 2022-23 से 2023-24 तक, या#न 2 वष के लए यू#नट के परफॉमnस को नोट #कया�यू#नट ने पहली Pलॉक अवध के #व@ वष 2022-23 से 2023-24 म6 530.00 करोड़ Oपये के अनुमा#नत #नयात के मुकाबले 650.62 करोड़ Oपये का #नयात हासल #कया है�यू#नट ने पहली Pलॉक अवध के #व@ वष 2023-24 म6 संचयी आधार पर 5837.33 करोड़ Oपये का सकाराNमक एन.एफ.ई (नेट #वदेशी मू`य (हासल #कया है�यू#नट ने 160 कमचाAरयT के अनुमा#नत रोजगार के मुकाबले 652 कमचाAरयT (पुOष - 649, म#हलाएं - 03) का रोजगार हासल #कया है�
Minutes of the 49th Meeting of the Approval Committee meeting held under the Chairmanship of Development Commissioner SEEPZ-SEZ for Sector Specific Special Economic Zone for Bio-Pharma sector of M/s. Serum Bio Pharma Park - SEZ, held on 11.12.2024. 1 Name of the SEZ M/s. Serum Bio Pharma Park - SEZ 2 Sector Bio-Pharma 3 Meeting No. 49th
4 Date 11.12.2024 Agenda Item No.01: Confirmation of the Minutes of the 48th meeting held on 15.10.2024 After deliberation, the committee approved the minutes of the 47th Approval Committee Meeting held on 15.10.2024 Agenda Item No.02: Action taken report for the minutes of the meeting held on 15.10.2024. After deliberation, the Committee has noted the Action taken report for the meeting held on 15.10.2024. Agenda Item No.03: Monitoring of Performance for M/s. Serum Institute of India Pvt. Ltd. (Unit No. VI) : After deliberation, the committee noted the performance of the unit for 02 years of 1st block period i.e. FY 2022-23 to 2023-24, in terms of Rule 54 of SEZ Rules, 2006, as detailed below:

The Unit has achieved export revenue of Rs. 650.62 Crores as against the projected export of Rs. 530.00 Crores during FY 2022-23 to 2023-24 The unit has achieved positive NFE of Rs. 5837.33 Crores i.e., 81.29% on cumulative basis in FY 2023-24. The unit has achieved employment of 652 employees (Men - 649, Women-3) against the projected employment of 160.

मे मेसस मांजरी टड फाम-एसईजेड,, एसईजेड, पुणे, आईट"/आईट"ईएस +े, आ(थ*क #वशेष #वश& सेटर के, का जोनल #वकास आयु. क2 अ4य+ता म6, सी/झ एसईजेड, मुंबई म6 >द 11.12.2024 को आयो8जत 101 वी अनुमोदन सम#त क2 बैठक का कायवृ@�एसईजेड का नाम मे मेसस मांजरी टड फाम-एसईजेड, एसईजेड

सेटर आईट"आईट"ईएस/

बैठक \मांक 101 वी

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ACTION TAKEN REPORT FOR THE APPROVAL COMMITTEE MEETING HELD ON 11.12.2024 IN RESPECT OF MIDC – SEZ, Hinjewadi, Phase III, Pune.
MINUTES APPROVED ON 18.12.2024

Name of the unit

Subject Action Taken M/s. Serum Institute of
India Pvt Ltd – Unit – VI
Monitoring of Performance Approval Letter issued to the unit on
23.12.2024

GOVERNMENT OF INDIA, OFFICE OF THE DEVELOPMENT COMMISSIONER, SEEPZ SPECIAL ECONOMIC ZONE, GOVT. OF INDIA, ANDHERI (EAST), MUMBAI

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AGENDA NOTE FOR CONSIDERATION OF APPROVAL COMMITTEE

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a. Proposal : Proposal dated 06.03.2025 submitted by M/s. Serum Institute of India Pvt. Ltd., (Unit No. 1) for Merger of LOAs of their 3 existing units located at Serum Bio Pharama Park SEZ, Sector specific biotechnology SEZ. b. Specific Issue on which decision of AC is required: -
Approval of the Committee for merger of 3 LOAs of M/s. Serum Institute of India Pvt. Ltd. located Serum Bio Pharama Park SEZ, in terms of 4th proviso of Rule 19(2) of SEZ Rules, 2006. c. Relevant provisions of SEZ Act, 2005 & Rules, 2006/Instruction/
Notification :- As per the 4th proviso of Rules 19 (2) of SEZ Rules, 2006; “Provided also that the Approval Committee may also approve proposal for merger of Letter of approvals of two units of the same company or firm subject to the conditions that these Units falls within the same Special Economic Zone and after merger, Block Period for calculation of Net Foreign Exchange shall be from the date of commencement of production of Unit which commenced operation first and the Income tax exemption period shall be considered from the date start of operation of the first Unit.” d. Other Information: - Approved projections (Unit 1, Unit 2 & Unit 4) (Rs. In Cr.) S.No. Item Existing approved Projections Revised Projections post-merger of all the LoA's

SEZ Unit-I SEZ Unit-II SEZ Unit-IV Merged SEZ Unit-I (Fy 22-23 to Fy 26- 27) (Fy 23- 24 to Fy 27-28) (Fy 21-22 to Fy 25-26) (Fy 25-26 to Fy 29-30) 1 Employment 1,530 225 694 2,449

Male 1,511 209 691 2,411

Female 19 15 3 38 2 Investment in P&M

i) Imports (CG + Spares) 749 244 174 1538.01 ii) Indigenious (CG + Spares) 79 55 35 325 3 Requirement of Raw material

i) Imports 2654.23 94 489 4068.06 ii) Indigenous 701 73 272 1307.3 4 Import of services 38 696 119 1127.4

5 Indigenous services 1000.5 400 325 2479.8 6 FoB Value of Exports 10973.86 1812.18 3438.3 21367.85 7 Foreign Exchange Outgo 3737.75 811 975 10378.67 8 NFE Earnings 7236.12 1000.8 2463.07 10989.18

The LOA of unit 1 was renewed on 04.04.2022 for 4th block period (i.e FY 2022-23 TO FY 2026-27) which will be considered for the purpose of calculation of Net Foreign Exchange, after the merger.

Approved Projections: (Unit 1 - 4th Block Period)
(Rs. In Crores)

2022-23

2023-24 2024-25 2025-26 2026-27 Total FOB Value of Exports 1300.00 1400.00 1500.00 1700.00 1800.00 7700.00 FE Outgo 870.20 908.20 945.20 1018.20 1054.20 4796.00 NFE 429.80 491.80 554.80 681.80 745.80 2904.00

Comparison of Projection and Achieved Export: (Unit 1 - 4th Block Period)
(Rs. In Crores) Year EXPORT

Projected Actual 2022-23 1300.00 2291.67 2023-24 1400.00 2551.64 2024-25 (upto 02/25) 1500.00 2630.55 Approved Projections: (Unit 2 - 3rd Block Period)
(Rs. In Crores)

2019-20 2020-21 2021-22 2022-23 2023-24 TOTAL FOB Value of Exports 106.80 20.50 29.00 41.75 58.75 256.80 FE Outgo 46.80 23.55 23.55 21.05 18.05 133.00 NFE 60.00 (-)3.05 5.45 20.70 40.70 123.80

Comparison of Projection and Achieved Export: (Unit 2 - 3rd Block Period)

(Rs. In Crores)

Year EXPORT

Projected Actual 2019-20 106.80 17.42 2020-21 20.50 45.16 2021-22 29.00 26.31 2022-23 41.75 271.80 2023-24 58.75 726.54

Approved Projections: (Unit 4 - 3rd Block Period)
(Rs. In Crores)

2021-22 2022-23 2023-24 2024-25 2025-26 TOTAL FOB Value of Exports 400.00 450.00 475.00 500.00 525.00 2350.00 FE Outgo 107.10 165.25 196.75 203.25 209.25 881.60 NFE 292.90 284.75 278.25 296.75 315.75 1468.40 Comparison of Projection and Achieved Export: (Unit 4 - 3rd Block Period)
(Rs. In Crores) Year EXPORT

Projected Actual 2021-22 400.00 727.66 2022-23 450.00 684.58 2023-24 475.00 646.06 2024-25 (Upto 02/25) 500.00 855.00 2025-26 525.00

POST MERGER - Approved Projections: (Unit 1)
(Rs. In Crores)

2022-23

2023-24 2024-25 2025-26 2026-27 Total FOB Value of Exports 3248.05 4022.75 4092.69 3500.00 3850.00 18713.48 FE Outgo 683.82 1203.22 1107.69 1700.00 1870.00 6564.74 NFE 2564.23 2819.53 2984.99 1800.00 1980.00 12148.75

Other Information: -

M/s Serum Institute of India Pvt. Ltd. are having 3 units located at Serum Bio Pharma Park - SEZ. In terms of 4th proviso to Rule 19(2) units with two or more LOAs of the same company and falling within the same SEZ can merge their LOAs with the approval of the Approval Committee and after merger the block period for calculation of NFE shall be from the date of commencement of production of the Unit which commenced operation first. In view of the above M/s. Serum Institute of India Pvt. Ltd. having 3 units located at Serum Bio Pharma Park - SEZ have submitted their application for merger of all the 3 units. Unit 1 was issued Letter of Approval No. SEEPZ/P-SEZ/03/(2006)/01/2006-07/5378 DATED 28.07.2006 (ORIGINAL LOA). Their date of Commencement of Business is 16.07.2007. Hence, post-merger the operation of both the units viz Unit 2 and Unit 4 will not be operational and will be merged with Unit 1. The details of all the 3 units are as detailed below : Unit LOA NO. and Date Date of Commence- ment LOA Valid upto Block Period Located at Area Sq. ft 1 SEEPZ/P.SEZ.03(2006)/01/2006- 07/5378 DATED 28.07.2006 (ORIGINAL LOA) 16.07.2007 31.03.2027 4th Serum Bio- Pharma Park, 212/2, Hadapsar, Taluka Haveli, Pune 411 028.

415768.68 2 SEEPZ/P- SEZ.04(2006)/02/2006-07/5376 DATED 28.07.2006 (ORIGINAL LOA) 01.11.2008 31.10.2028 4th Serum Bio- Pharma Park, 212/2, Hadapsar, Taluka Haveli, Pune 411 028. 9816.68

3 SEEPZ/NEWSEZ/SERUM- PUNE/06/LOA-04/08- 09/3274 DATED 01.04.2009 (Original LOA) 25.02.2011 24.02.2026 3rd
Serum Bio- Pharma Park, 212/2, Hadapsar, Taluka Haveli, Pune 411 028. 133597.22

Reason for Merger: The proposed merger is aimed at achieving greater operational efficiencies and business synergies. The main intent of the management is to consolidated their operations under one unit only instead of maintaining multiple separate units with separate books of accounts and records keeping, so that compliances, operations, administration etc. can be handled effectively with common team. The key benefits of the merger is given below: I. Reduction in subcontracting activities: Currently all the three units engaged in inter-unit subcontracting, leading to additional administrative, logistical & compliance burden; Post-merger, all operations will be streamlined within a single unit, eliminating the need for inter-unit subcontract & reducing associated cost & inefficiencies. This will enhance production turnaround time & improve resource utilization. II. Synergies in Operations: The merger will allow seamless integration of manpower, machinery & raw materials, leading to better co-ordination & workflow optimization. Elimination of duplication in procurement, warehousing & quality control process will result in cost savings.

A Unified setup will ensure better utilization of infrastructure & technology, leading to improved productivity. III. Simplification of Compliance & Administration: Operating under single SEZ Unit will reduce the burden of maintaining separate records, Periodic reporting & regulatory filings for three Units. A consolidated unit will improve efficiency in handling Customs & SEZ Compliance, reducing administrative overheads. IV Improved Cost Efficiency & Competitiveness: A single larger unit will benefit from economies of scale, reducing per unit production costs. The operational consolidation will improve cost control, enhance profitability & strengthen the companies competitive position in the global market.

Documents Enclosed The unit has submitted the following documents: a. Form F3 filed through SEZ Online System (422500052855 dated 06.03.2025) b. Copy of Board resolutions authorizing authorized signatory & signed Power of Attorney; c. Copy of No objection certificate from the Developer & Co-developer; d. Copy of all LOA of all the 03 units e. Revised Projections of SEZ Unit-1; f. Copy of APR for the FY 23-24 & tentative APR for 2024-25 (upto 28.02.2025) of all units; e. Recommendation: As Date of Commencement of Unit 1 is 16.07.2007, upon merger of the three SEZ Units, the block period of Unit-1 will be considered for calculating NFE of the merged units i.e., FY 2022-23 to FY 2026-27. The Projections of Exports, NFE and Employment after Post merger of all the Units are higher than the projections approved by the units prior to merger. The Approval Committee may kindly consider the proposal of the units for merger of their LOAs, in terms of 4th proviso of Rule 19(2) of SEZ Rules, 2006.

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