Sanjivani Paranteral raises funds worth Rs 30.88 Cr

27 December 2023 | News

Funds raised through issuance of warrants & preferential allotment

image credit- shutterstock

image credit- shutterstock

Sanjivani Paranteral, a Mumbai-based pharmaceutical company specialising in the manufacturing and distribution of high-quality parenteral and oral solid products, approved 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 crore 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.

This issuance marks a defining moment for the company, setting the stage for continued expansion and steadfast dedication to advancing its position as a leading force in the development of a cutting-edge manufacturing facility in collaboration with Hindustan Antibiotics Limited for the production of IV formulations and IV sets.

A part of the funding will be allocated towards modernising the existing facilities, reinforcing infrastructure to meet the demands of progressive technology and industry standards.

Srivardhan Khemka, Director, Sanjivani Paranteral, said, “This 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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