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IFC to provide $15 m to Granules India

NEW DELHI: International Finance Corporation (IFC), the private sector arm of the World Bank Group, on Thursday announced an agreement to provide $15 million investment financing for Granules India. The company will use the investment — $9 million in loan and $6 million in equity — to expand its active pharmaceutical ingredient and granulation capacities, while vertically integrating into finished formulations, said Krishna Prasad, Managing Director of Granules India.

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