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Rajasthan Antibiotics Ltd (RAL), a producer of injectable antibiotics, is planning to raise ₹50 crore through venture capital funding by August-September 2017, and mandated BIORx Venture Advisors to syndicate the funds. The funding will be used for expansion through greenfield and brownfield. “Our next target is to generate a revenue of ₹500 crore by 2020 and strengthening our position in the ever-growing niche segment of Steriles,” said Ashish Pruthi, Managing Director. RAL was incorporated on March 17, 1986, and commenced commercial production in 1991. It is engaged in the manufacturing of bulk drugs, also known as active pharmaceutical ingredients.
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