Motilal Oswal Invests Rs 460 cr in Mega Fine Pharma
Motilal Oswal Alternates invests Rs 460 crore for a majority stake in Mega Fine Pharma, an export-focused integrated API company. The Sanghvi family, the promoters, also invested to increase their stake.
Mumbai, Feb 25 (PTI) Motilal Oswal Alternates on Tuesday announced a Rs 450-crore investment in Mega Fine Pharma for a majority stake.
The Sanghvi family, the promoters of the company, have also invested in a bid to increase their stake in the export-focused integrated API company, as per an official statement.
The city-headquartered company was established in 1995, and has two USFDA-approved manufacturing facilities in Nashik and Vapi. It makes high-value, low-volume niche active pharmaceutical ingredients for chronic therapies.
Motilal Oswal Alternates' (MO Alts) practical approach and deep expertise in life sciences will be instrumental in transforming the company into a long-lasting institution, the company's promoter Shailesh Sanghvi, who is now appointed as the managing director, said.
Rohit Mantri, co-head of private equity at MO Alts said the API industry is witnessing double-digit growth in India driven by higher outsourcing, lower costs and de-risking of global supply chains from China and added that this is the first sole control investment for the fund.
The PE fund will focus on strengthening research and development and manufacturing capabilities and creating a platform for further inorganic opportunities, he added.
The Sanghvi family, the promoters of the company, have also invested in a bid to increase their stake in the export-focused integrated API company, as per an official statement.
The city-headquartered company was established in 1995, and has two USFDA-approved manufacturing facilities in Nashik and Vapi. It makes high-value, low-volume niche active pharmaceutical ingredients for chronic therapies.
Motilal Oswal Alternates' (MO Alts) practical approach and deep expertise in life sciences will be instrumental in transforming the company into a long-lasting institution, the company's promoter Shailesh Sanghvi, who is now appointed as the managing director, said.
Rohit Mantri, co-head of private equity at MO Alts said the API industry is witnessing double-digit growth in India driven by higher outsourcing, lower costs and de-risking of global supply chains from China and added that this is the first sole control investment for the fund.
The PE fund will focus on strengthening research and development and manufacturing capabilities and creating a platform for further inorganic opportunities, he added.
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