Sanjivani Paranteral Raises INR 22.77 Cr In Strategic Funding For Expansion

Sanjivani Paranteral  (BSE: 531569), a  pharmaceutical company specialising in the manufacturing and distribution of high-quality parenteral and oral solid products, has approved the issuance of 600,000 convertible warrants to promoter  Ashwani Khemka at Rs 135.10 per warrant,  the company informed in a press statement on Wednesday.

Additionally, the company has given the green light for preferential allotment of 16,86,000 equity shares at Rs 135.10 per share, totalling Rs 22.77 crores, to non-promoter investors. Notable participants in this issuance include India Bridge Fund (India Equity Fund1), Ashish Kacholia,  Monika Garware, Anurag Jain, and Ashika Global Securities.

This strategic financial move represents a pivotal moment for Sanjivani Paranteral, laying the foundation for sustained expansion and reinforcing the company's commitment to solidifying its position in the pharmaceutical sector. The funding will play a crucial role in the development of an advanced manufacturing facility, in collaboration with Hindustan Antibiotics, dedicated to the production of Intravenous (IV) formulations and IV sets.

A portion of the funds will be directed towards modernising existing facilities, ensuring that infrastructure is aligned with the evolving landscape of progressive technology and industry standards.

Srivardhan Khemka, Director of Sanjivani Paranteral, expressed his views on the capital infusion, stating, “This capital infusion strengthens our collaboration with Hindustan Antibiotics 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.”