Pharma 673

RAL seeks to raise Rs 50 cr in VC funding

Rajasthan Antibiotics Limited (RAL), a leading pharmaceutical company that pioneered Ampicillin Sodium Sterile and Omeprazole Sodium Sterile production in India, is planning to raise Rs 50 crore through venture capital (VC) funding by August-September 2017.

The company, which now has five Lyophilizers and Crystalline plant to manufacture Sterile APIs, has mandated BIORx Venture Advisors Pvt Limited (BIORx) to syndicate funds.

The VC funding would be used to fund RAL’s expansion through Greenfield and Brownfield projects. “Our next target is to generate a revenue of INR 500 crores by 2020 and strengthening our position in the ever-growing niche segment of Steriles,” said Ashish Pruthi, Managing Director, RAL.

BIORx works as a financial and strategic partner for the life-sciences industry.

Commencing its commercial production in 1991, in the past 25 years RAL has grown both in size and reputation to become the country’s largest producer of injectable antibiotics.

The company has got a great clientele base not only in India but also in Europe and countries like China, Brazil, Indonesia, Bangladesh and the UAE where it has already made its presence felt.

The company has a diversified product mix that largely caters to two therapeutic segments, namely, anti-infective and gastroenterology.

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