Rajasthan Antibiotics to raise Rs 50 cr by Sept

Rajasthan Antibiotics Ltd (RAL) is planning to raise Rs 50 crore via venture capital (VC) funding by September this year.
The funding would be utilised to expand company's operations, RAL said in a statement.
"Our next target is to generate a revenue of Rs 500 crore by 2020 and strengthening our position in the ever-growing niche segment of steriles," RAL MD Ashish Pruthi said.
Incorporated in 1986, the company commenced commercial production 1991. It manufactures active pharmaceutical ingredients (API).