Date:15/06/2007 URL: http://www.thehindu.com/2007/06/15/stories/2007061502601801.htm

Business - Briefly

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.