Kashiv BioSciences secures Rs 648 crore financing from Union Bank of India to expand manufacturing facilities in Gujarat, India

New Delhi: Kashiv BioSciences Private Limited, a biopharmaceutical company, today announced that it has secured financing of Rs 648 crore from the Union Bank of India. The proceeds will be used to expand its state-of-the-art manufacturing facility in Pipan, near Ahmedabad, Gujarat.

The new single-use commercial manufacturing facility will be one of India’s largest, equipped with cutting-edge technologies to support the production of high-quality biologics and specialty pharmaceuticals. At full capacity, Kashiv expects the facility to manufacture up to 50,000L. This milestone represents a major step forward in Kashiv’s mission to expand its global footprint and strengthen its position in India as a leading center for advanced biopharmaceutical manufacturing.

Serving customers across the U.S., Canada, Europe, and other international markets, the facility will further reinforce India’s role as the “pharmacy of the world” by enhancing technical capabilities, improving global competitiveness, and creating long-term, high-value employment across scientific, technical, and operational disciplines.

“This funding marks a pivotal milestone in Kashiv’s journey to expand biomanufacturing capacity in India,” said Dr. Sandeep Athalye, Global CEO of Kashiv BioSciences. “The new facility in Pipan will not only accelerate innovation and access to high-quality biologics but also reinforce our commitment to building world-class infrastructure that supports global healthcare needs. This infrastructure is being financed with the support of the Union Bank of India and is in alignment with the Biotechnology Policy and schemes implemented by GSBTM (Gujarat State Biotechnology Mission), a body of the state government, which continues to catalyze investment in advanced biopharmaceutical manufacturing.”

Shri Digvijaysinh D. Jadeja, IAS, Mission Director (MD) of the GSBTM said, “Kashiv’s expansion in Pipan exemplifies Gujarat’s commitment to fostering innovation-led growth in biotechnology. Through the Biotechnology Policy, we continue to support high-impact investments that elevate India’s scientific capabilities and create meaningful employment across the value chain.”

“Union Bank is proud to have partnered with Kashiv as the lender on this initiative. This will advance India’s manufacturing capabilities and create sustainable economic value for the region, supporting the nation in achieving its goal of ‘Viksit and Atmanirbhar Bharat’. We wish the Company great success in this endeavor,” said a senior representative from the Union Bank of India.