The infusion is done through convertible instruments from Piramal Alternatives' Performing Credit Fund, it said.
The Piramal group statement said Biodeal is among India's leading manufacturer of
Piramal Alternatives' chief executive Kalpesh Kikani said the market potential in the nasal sprays segment is strong, and pointed to Biodeal's leading position in
Biodeal's managing director Anurag Kumar said the fundraise will help it boost the production capacity by three times, be ready with a new upcoming facility in compliance with United States Food and Drug Administration (USFDA) accreditations in coming 12-15 months and expand its market reach.