The capital will be used for funding Parabolic's next level of growth and will be largely used for significantly expanding capacities for its existing and new products, a press release issued here today said.
The fund is managed by the Swiss-based BTS group and the pharmaceutical sector is one of its preferred sectors.
Parabolic Drugs has already established itself as an important supplier for APIs and bulk drugs ranging across several products in the betalactum and cephalosporins range.
"The current round of capital raising is a step towards further broadening the product and customer base, and take the company towards its target of crossing Rs 1,000-crore in sales over the next couple of years," company's Chairman and Managing Director Pranav Gupta said.
Yes Bank was the sole strategic advisor to Parabolic for the transaction.
