English 
搜索
Hebei Lansheng Biotech Co., Ltd. ShangHai Yuelian Biotech Co., Ltd.

IFC to invest $50 million in Mumbai-based API maker Hikalqrcode

Nov. 18, 2021

Favorites Print
Forward
Nov. 18, 2021

Hikal Ltd.
India  India
Follow

By Debjyoti Roy

World Bank’s International Finance Corporation (IFC) has proposed to make an equity investment of $50 million (Rs 371 crore) in Hikal Ltd, which deals in active pharmaceutical ingredients (APIs) and crop-protection products.  

This would be IFC's third investment in the Mumbai-based company. It invested Rs 44 crore and 64 crore in 2008 and 2013 respectively.   

The newly-infused capital will be utilised for the capacity expansion of the firm’s manufacturing facilities.  

Hikal has six manufacturing facilities, including two pharmaceutical facilities in Jigani in Karnataka, one pharmaceutical facility and one crop protection facility in Panoli in Gujarat, and one crop-protection facility each in Mahad and Taloja in Maharashtra.

A significant part of the capital will be used for the capacity expansion of the Jigani and Mahad facilities.  

At the pharmaceutical manufacturing facilities, Hikal has an API product pipeline across therapeutic areas related to diabetes, anti-thrombotics, hypertension, anti-inflammation and analgesic for human health.

The crop protection portfolio comprises active ingredients and intermediates that include algaecides, insecticides, fungicides, biocides and others.  

IFC has an active LP (limited partner) portfolio in India, makes direct private equity (PE) investments and also lends to companies.
 
In September, IFC has proposed an investment in the second fund of A91 Partners, a venture capital (VC) firm, floated by former Sequoia Capital executives. The fund made a final close of its second vehicle at $550 million early this month.  

In July, IFC and two associate entities announced that they will invest Rs 916 crore in Kerala-based Federal Bank through preferential allotment.

In June, the World Bank unit proposed a loan of up to $50 million for Rabobank to help the Dutch cooperative bank fund agriculture and renewable energy projects in India. In May, it committed an equity investment of up to $15 million in an India-focused clean energy fund managed by GEF Capital Partners.


Source: VCCircle.com

0/1200

More from AgroNewsChange

Hot Topic More

I wanna post a press Comment

Subscribe 

Subscribe Email: *
Name:
Mobile Number:  

Comment  

0/1200

 

NEWSLETTER

Subscribe India Special Biweekly to send news related to your mailbox