Krebs Biochemicals & Industries Ltd announced a private placement of 1,00,00,000 redeemable non-convertible non-cumulative preference shares at a price of INR 100 per share for gross proceeds of INR 100,00,00,000 on October 23, 2021. The transaction will include participation from Ipca Laboratories Limited. The transaction has been approved by the board of directors of the company.

The transaction is subject to shareholder's approval at its extra ordinary general meeting to be held on November 29, 2021.