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Sanjivani Paranteral raises funds worth Rs 30.88 Cr
IMT News Desk
9 months ago
Sanjivani Paranteral raises funds worth Rs 30.88 Cr
IMT News Desk
9 months ago
A part of the funding will be allocated towards modernising our existing facilities, reinforcing the infrastructure to meet the demands of progressive technology and industry standards
Sanjivani Paranteral, a leading pharmaceutical company specialising in the manufacturing and distribution of high-quality parenteral and oral solid products, approved the issuance of 600,000 convertible warrants to promoter Ashwani Khemka priced at Rs 135.10 per warrant. The company also approved preferential allotment of 16,86,000 equity shares at Rs 135.10 per share, amounting to Rs 22.77 crores to non-promoter investors. Some of the marquee investors who participated in this issue include India Bridge Fund (India Equity Fund1), Ashish Kacholia, Monika Garware, Anurag Jain, Ashika Global Securities.
The issuance marks a defining moment for the company, setting the stage for continued expansion and our steadfast dedication to advancing our position as a leading force in the development of a cutting-edge manufacturing facility in collaboration with Hindustan Antibiotics for the production of IV formulations and IV sets. A part of the funding will be allocated towards modernising our existing facilities, reinforcing the infrastructure to meet the demands of progressive technology and industry standards.
Srivardhan Khemka, Director, Sanjivani Paranteral said, “The capital infusion strengthens our collaboration with Hindustan Antibiotics Limited for IV formulations and emphasises our unwavering focus on shareholder value and healthcare, empowering us to drive forward. With investor support, we're poised for greater success and innovation.”
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