Divi's Lab to Invest Rs 700 Cr for Production Expansion

New Delhi, Apr 25 (PTI) Drug firm Divi's Laboratories on Thursday said it is looking to invest around Rs 700 crore to expand production capacity to cater to the requirement of a customer.

The company is in the process of entering into a long-term supply agreement with a customer and is planning for capacity addition at its manufacturing facility with an estimated investment between Rs 650 crore to Rs 700 crore, to be funded from internal accruals, the company said in a regulatory filing.

The proposed facility is expected to be operational around January, 2027, it added.

Due to the confidentiality agreement signed with the customer, the company is not permitted to disclose any further quantitative details, it said.

Shares of Divi's Laboratories were trading 0.75 per cent up at Rs 3,845 apiece on the BSE.