Vivimed Labs, IFC enters into FCCB subscription agreement

Vivimed Labs and International Finance Corporation (IFC), a World Bank Group has entered into an FCCB subscription agreement wherein IFC  will subscribe to the company’s FCCB’s, on private placement basis to the tune of $7.5 million.

Last year in December, Vivimed Labs had commenced its commercial production at its new facility for manufacturing of sunscreens set up at Bidar in Karnataka. This plant was set up within a record time of six months.

Vivimed Labs is engaged in the business of manufacturing ingredients for the home and personal care (H&PC) industry and Contract Research and Manufacturing Services (CRAMS). It carries on its business from 4 manufacturing facilities which are located at Bidar (Karnataka), Jeedimetla (Hyderabad), Bonthapally (Hyderabad) and Kashipur (Uttaranchal).