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