Sanjivani Paranteral Limited Secures Rs 30.88 Crore via Warrant Issuance and Preferential Allotment

• ByStartupStory     |    December 28, 2023

Sanjivani Paranteral Limited, a pharmaceutical powerhouse specializing in top-tier parenteral and oral solid products, has recently finalized a crucial fundraising endeavor. This move involved issuing 600,000 convertible warrants to promoter Ashwani Khemka at Rs. 135.10 per warrant. Additionally, the company greenlit preferential allotment of 16,86,000 equity shares at the same price, Rs. 135.10 per share, totaling Rs. 22.77 crore, catering to non-promoter investors.

The infusion of capital through this issuance signifies a pivotal moment for the company, poised to fuel continuous expansion and reinforce its standing as a prominent figure in the industry. It also sets the stage for a significant collaboration with Hindustan Antibiotics Limited, aimed at establishing a state-of-the-art manufacturing facility for IV formulations and IV sets. A part of these funds will be allocated towards modernizing existing facilities, aligning infrastructure with evolving technological demands and industry benchmarks.

Director Srivardhan Khemka emphasized, “This capital infusion reinforces our commitment to healthcare and value for our shareholders. It empowers our pursuit of collaboration with Hindustan Antibiotics Limited for IV formulations, further propelling our trajectory. With the unwavering support of investors, we are poised for greater strides in innovation and success.”

Sanjivani Paranteral Limited, headquartered in Mumbai with manufacturing plants in Navi Mumbai and Dehradun, operates across 25 countries, significantly exporting 70% of its products. Boasting over 100 product approvals worldwide, the company focuses on therapeutic areas like CNS, CVS, antibiotics, gastroenterological, anti-diabetics, and anti-allergic treatments. Supported by robust R&D capabilities, the company specializes in producing and distributing high-quality pharmaceuticals.

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