Rajasthan Antibiotics to raise Rs 50 crore VC Funding

Rajasthan Antibiotics Limited (RAL), is planning to raise an amount of Rs 50 crores through venture capital (VC) funding by August-September 2017. BIORx Venture Advisors (BIORx) has been mandated to syndicate funds. The funding would be pumped into company expansion through greenfield and brownfield. BIORx works as a financial and strategic partner for the life-sciences industry.

In the past 25 years, RAL has grown both in size and reputation to become the nation’s largest producer of injectable antibiotics. Ashish Pruthi, MD, RAL, said, "Our next target is to generate a revenue of Rs 500 crores by 2020 and strengthening our position in the ever-growing niche segment of Steriles."