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Granules India allots stake to Ridgeback Capital

HYDERABAD : Granules India has decided to allot 14.9 per cent of its stake to Ridgeback Capital Investment LLC, a U.S.-based pharma fund, on a preferential basis. According to Krishna Prasad, Managing Director, Granules India, the company will issue 22.11 lakh equity shares of Rs. 10 each, at Rs. 105.50 per share (including premium) to Ridgeback Capital or its affiliates.

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