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The Board of Directors of Granules India Ltd., a fully integrated pharmaceutical company with specialisation in Pharmaceutical Formulation Intermediates, today passed a resolution inviting the approval of shareholders for issuing upto 22,00,000 shares to International Finance Corporation of the World Bank at a price of Rs. 118.10 per share..

Commenting on the development, Krishna Prasad, Managing Director, Granules India, said, “This would be the last round of major equity dilution for the company in the foreseeable future and marks the completion of the current fund raising exercise that Granules announced in December”.

IFC is also considering a Long Term Loan assistance of USD 9 mn to Granules India. Mr. Prasad also added “We are looking forward to this investment of debt / equity, which will strengthen the Balance Sheet of the company and gear us for delivering the high growth contemplated by us. We feel that this also reiterates the strength of the business model of Granules and will definitely enable the company to gear up the internal systems to meet the high-growth phase we are getting into.”.

About Granules India Ltd
(BSE: 532482, NSE: GRANULES, Reuters: GRAN.BO)
Granules India Ltd. is a fully integrated pharmaceutical formulations manufacturer with the world's largest 'granulation' capacity. The company manufactures several strategic Active Pharmaceutical Ingredients (APIs) and multiple Pharmaceutical Formulation Intermediates (PFIs), which are distributed in 35 countries. It is foraying into manufacturing of tablets with a capacity of 6 billion tablets per annum. This facility will strengthen its presence in the pharma outsourcing space as it will have capabilities of offering a wide range of products beginning from APIs to finished dosages (coated/uncoated).

For further details please contact:

Granules India
Mrs.N.Madhavi
Cell: 91 98663 20405

Adfactors PR Pvt. Ltd; Mumbai
Rakesh Sharma/ Shalaka Parab
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