The Board of Directors of Shilpa Medicare approved the preferential allotment of 52.75 lacs equity shares aggregating to Rs. 297.51 crore to various marquee investors at Rs. 564 per share. The marquee investors who participated in the fundraiser include Malabar India Fund Limited, Malabar Select Fund, Malabar Midcap Fund, Think India Opportunities Master Fund LP, Blue Diamond Properties Private Limited, Ohm Core Investment Corp, Hypnos Fund Limited and Madhusudan Kela. The completion of the transaction is subject to regulatory approvals.

The fundraising will enable the company to leverage growth opportunities in identified niche areas including biosimilars and new biological entity space. The leveraged position created by continuous growth investments made by the company in the recent past also gets addressed through this equity infusion.

Speaking on the occasion, Managing Director Vishnukant Bhutada said, "We are extremely happy to welcome a new set of focused investors into the company. I also take this opportunity to express gratitude to existing investors for the confidence and strong support that they have shown in us. This development will go a long way in strengthening SML’s balance sheet and providing impetus to future growth.”

The company is engaged in the manufacturing and sale of affordable API and formulations in various markets around the world. Currently, it is one of the key players in the oncology market and offers a complete range of products in the segment backed by strong R&D and manufacturing capabilities.