Shantha Bio To Mop Up $30 M By Placing 26%

Shantha Biotech, the Hyderabad-based biotech major, is planning to raise $25-30 million by privately placing around 26 per cent equity with a strategic investor.

An agreement to this effect is likely to be finalised in early November.

Varaprasad Reddy, managing director, Shantha Biotech, said: