Roselabs plans to raise $21m to expand operational facilities

Planning to raise the financing through a private equity funding arrangement, the company is already in discussions with some financial institutional players.

Roselabs executive Zameer Agarwal was quoted by The International Venture Capital Post as saying, "We are looking at raising Rs 100 crore (US$21 million) through private equity to fund our expansion plans."

"The company, after raising the funds, will now concentrate on contract processing, improvement of any formulation in pre-filled syringes, producing empty polymer and glass syringes, enhancement of customised drug shipping and delivery system, and enhancing its marketing programs under its own brand image."

India-based Roselabs Group has set up a production plant that produces pre-filled syringes.

The equity funding would help in the financing of the expansion plans of the production facility.