Medicamen Biotech Limited announced that it expects to receive INR 200.23 million in funding from Sri Kedar Properties Private Limited, Kim Ginnerup ApS, Shivalik Rasayan Limited, and other investors.

Medicamen Biotech Limited (BSE:531146) announced a private placement of 324,000 equity shares at INR 618 per share for gross proceeds of INR 200,232,000 in funding on January 12, 2018. The transaction will include participation from existing investor, Shivalik Rasayan Limited (BSE:539148), who is subscribing for 76,000 shares, new investors, Kim Ginnerup ApS, who is subscribing for 50,000 shares and Sri Kedar Properties Private Limited, who is subscribing for 16,000 shares, and individual investors including Jinendra Kumar Jain and Ravikant Chowdhary, each subscribing for 25,000 shares of the company and also including other individual investors. The company obtained approval from the shareholders of the company.

The securities will be issued on preferential basis.