The company will receive consideration of Rs43 crore in multiple tranches from the buyer, Sterlite Power Transmission.
The existing capacity of plant 1 at Hunsur, Mysore is 28,704 spindles and the capacity utilization is at 100%.
The duo will also explore the export possibility of the products to reach out the global demands.
This partnership will enable Axis Bank to strengthen its commitment towards financial inclusion and also reinforce its Bharat Bank strategy of ensuring last mile connectivity.
This is a ready-to-use insulin formulation for intravenous (IV) infusion developed by Celerity Pharmaceuticals LLC (Celerity), using Biocon Biologics' biosimilar human insulin drug substance.
As part of NRLM, HDFC Bank provides access to financial services to over 4.5 lakh individuals in unbanked and underbanked sections of society.
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