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The board of Granules India has given its approval for investment of about Rs 167 crore in various arms.
Granules India has said in a regulatory filing that its Board of Directors have “approved further investment of USD 17.07 million (about Rs 117 crore) by way of debt/equity in Granules Pharmaceutical Inc, a wholly-owned foreign subsidiary of the company.”
The board has also approved “investment of Rs 50 crore by way of debt/equity in GIL Lifesciences Pvt Limited, a wholly owned Indian subsidiary.”
The company has also got the approval for “the scheme of amalgamation of GIL Lifesciences Pvt Limited, a wholly owned Indian subsidiary of the company, with Granules India Limited.”
