Mr. Jai Hiremath and family with related entities hold 69% stake are the promoter shareholders. The Company is publicly listed in India and the balance is held by financial institutional investors and general public. The Project is being undertaken by Hikal Ltd.

IFC proposes to fund up to US$50 million to part finance the Company’s multi-year capital expenditure plan.

 The Project will be located at the Company’s existing manufacturing facilities in India including in Mahad (Maharashtra), Taloja (Maharashtra), Panoli (Gujarat), Jigani (Karnataka) and Pune (Maharashtra). 

This is a Category B project in accordance with IFC’s Environmental and Social Sustainability Policy. Key E&S risks and impacts include: ii) the Company’s E&S management system (ESMS) including organizational capacity so as to effectively manage operations in aligned with the Performance Standards, national requirements and good international industry practice (GIIP; ii) fair, safe and healthy working conditions including occupational health and safety (OHS) and COVID infection control aligned with local regulatory requirements and current good manufacturing practices (cGMPs) as applicable to the pharmaceutical and pesticide sector; iii) pollution prevention including emission and discharge of volatile organic compounds and other gaseous compounds; iv) compliance with local and international regulatory requirements for hazardous chemicals and material use aligned with GIIP; v) management of risks and impacts on communities associated with storage and transport of hazardous materials; vi) life and fire safety and onsite and & off-site emergency preparedness systems; and 7) cumulative impacts.