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IFCI Venture Capital Invests $4.6M In Marck Biosciences

Posted on August 25, 2008

IFCI Venture Capital (IVCL) has invested $4.6 million (Rs 20 crore) in Ahemadabad-based Marck Biosciences Ltd. The company is involved in manufacturing of sterile dosage products and with this round of funding plans to open up a new plant. Marck Biosciences is planning to set up a new plant along its existing facility in Kheda, which would require an additional capital of Rs 60 crore. The additional capital would be sourced through further borrowings and internal accruals. The company had revenues of Rs 56 crore last year, a quarter of which came from exports. read more...

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