Vivimed Labs has raised Rs127Cr from NYLIM Jacob Ballas India Fund III LLC and Kitara Capital. NYLIM is investing Rs67Cr, while Kitara Capital is investing Rs60Cr.

The investors are subscribing to CCPS which will be converted to equity in 18 months at a price of Rs315 per share. On conversion, NYLIM will have 13.2% stake, while Kitara will have 11.4% stake.

The funds will be used to finance Vivimed’s expansion plans for speciality chemicals at its existing locations in Bidar (Karnataka), Hyderabad, a new project near Visakhapatnam and a drug factory in Choutuppal, near Hyderabad.

Vivimed has a commitment of raising $20Mn from International Finance Corp., a World Bank arm, of which it recently raised $7.5 million through a sale of foreign currency convertible bonds.

It recently acquired 50% stake in AP based - Octtantis Nobel Labs Pvt Ltd to foray into domestic pharma retail space.

Vivimed is also in the process of acquiring a Spain-based specialty chemical company for $50 Mn. The target company is expected to have a turnover of $100 Mn.

In 2008, Vivimed Labs acquired James Robinson - UK based manufacturer of dyes and photochromics.In 2010, the name of James Robinson was changed to Vivimed Labs Europe. It's manufacturing base was shifted from Munich, Germany to Hyderabad, India.

In 2009, Vivimed acquired Har-Met International Inc, a specialty chemicals distributor chain based in Pennsylvania. In 2010, Har-Met was incorporated as Vivimed Labs USA Inc.

Previous Article

Rane Group Acquires 26% In SasMos HET Technologies

Next Article

PE Backed Augere To Sell 4G Spectrum, Quit India Operations