Motilal Oswal Alternates invests Rs 460 cr for majority stake in Mega Fine Pharma
[hfe_template id='11223']
[ad_1]
Motilal Oswal Alternates on Tuesday announced a Rs 460-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 an...