Vivimed Labs Seals $25.8M Investment

Vivimed Labs, an Indian drugmaker, has raised 1.27 billion rupees ($25.8 million) from two private equity investors, Reuters reported. NYLIM Jacob Ballas India Fund has invested 670 million rupees through compulsory convertible preference shares, which would be converted in 18 months at a price of 315 rupees per share, the drugmaker said in a statement. Kitara Capital invested 600 million rupees to buy equity at 327 per share, it said.

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