Engaged in the manufacture of large volume parenterals with an installed capacity of 18 lac pa at Sabalpur, Gujarat, Ivee Injectaa was formally created and deployed as a legal entity in Mar.'82 as a private limited company. It was converted into a public limited company in May '92.

The company undertook an expansion-cum-diversification programme to increase its capacity from 18 lac pa to 54 lac pa. It also proposed to diversify into the manufacture of small volume parenterals with an installed capacity of 294 lac pa. It came out with a public issue of 21,70,000 equity shares of Rs 10 each for cash at par aggregating Rs 217 lac. It is one of the few companies which has facilities for both glass as well as plastic containers.

Due to recessionary trends which lead to difficult business conditions in the year 1999-2000, the parenteral industry has suffered a setback. However, the company has been awarded rate contract for one year for the supply of company's products from the Government of Gujarat and collective efforts are being made to improve the working of the company.