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Piramal Alts bets on pharma company Saimirra Innopharm

VCCircle

VCCircle · 3m ago

Piramal Alts bets on pharma company Saimirra Innopharm

Piramal Alternatives, the fund management unit of Piramal Group, has invested Rs 160 crore ($18.8 million) in Chennai-based Saimirra Innopharm through its India Credit Opportunities Fund II. This investment aims to support Saimirra’s brand acquisitions and product portfolio expansion across therapies and markets. Saimirra produces over 275 products globally and operates domestically through Delvin Formulations. This marks its second debt capital raising, following a previous commitment from BPEA Credit.

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How is Piramal Alts’ BFSI bet turning out as it reinvests at higher valuation?

VCCircle

VCCircle · 4m ago

How is Piramal Alts’ BFSI bet turning out as it reinvests at higher valuation?

Piramal Alternatives, the investment arm of the Piramal Group, plans to reinvest in an Indian company managing ATMs for banks after recovering its initial investment. This reinvestment comes at a higher valuation and highlights Piramal Alts' strategy of engaging in private equity and credit investments. The firm has a focus on BFSI (Banking, Financial Services, and Insurance) and aims to capitalize on growth opportunities in this sector, reflecting confidence in the company's business model.

Affirma Capital clocks an exit as Kotak Alts bets on Tirupati Medicare

VCCircle

VCCircle · 4m ago

Affirma Capital clocks an exit as Kotak Alts bets on Tirupati Medicare

Kotak Alternate Asset Managers Ltd is investing Rs 1,050 crore in Tirupati Medicare, facilitating a complete exit for Affirma Capital. This investment supports Tirupati's expansion, as Kotak Alts acquires a majority stake. Tirupati, leading in India's nutraceutical contract manufacturing, attracts this investment for leveraging growth opportunities. Affirma Capital, an emerging markets-focused PE firm, initially invested in 2019. This aligns with Kotak Alts’ strategy, following their investments in companies like Neuberg Diagnostics and Matrix Pharma.

Piramal to focus on brownfield expansion, cut debt before acquisitions

Livemint

Livemint · 1y ago

Piramal to focus on brownfield expansion, cut debt before acquisitions

Piramal Pharma Ltd intends to focus on organic growth and reducing its debt, rather than actively seeking acquisition opportunities, according to Chairperson Nandini Piramal. The company plans to invest more than ₹700 crore ($85 million) in brownfield expansion through FY25, with the majority allocated to its contract development and manufacturing organisation (CDMO) segment. While the company remains open to accretive acquisitions, reducing net debt ratios takes priority. Piramal reported a 102% YoY increase in net profit for Q1 2024, driven by strong CDMO business revenue growth.

Bottomline: NPA woes trouble Piramal Alts-backed Annapurna Finance

VCCircle

VCCircle · 2m ago

Bottomline: NPA woes trouble Piramal Alts-backed Annapurna Finance

Annapurna Finance, supported by investors like Piramal Alternatives, faced increased non-performing assets (NPA) in FY25, highlighting challenges within the microfinance sector. Despite loan write-offs, the company’s gross NPA ratio rose to 4% by December 31, 2024, up from 2.9%, indicating heightened asset quality stress.

Piramal Enterprises hit with $172 mn tax bill for pharma deal

VCCircle

VCCircle · 5m ago

Piramal Enterprises hit with $172 mn tax bill for pharma deal

Piramal Enterprises received a $172 million tax demand related to its sale of the pharmaceutical business to Piramal Pharma in 2021. Maharashtra's tax office claims an 18% GST is due, classifying the deal as an itemized sale, not a preferentially taxed slump sale. The tax bill represents about 15% of Piramal's 2024 fiscal revenue. Piramal contends the demand is "unjustified" and plans to challenge the decision, expecting the order to be overturned.

Piramal Alts-backed unit of Aussie firm Findi moves ahead with IPO plan

VCCircle

VCCircle · 6m ago

Piramal Alts-backed unit of Aussie firm Findi moves ahead with IPO plan

Transaction Solutions International (India) Pvt Ltd, backed by Piramal Alternatives, is advancing its plans for an initial public offering (IPO). The firm is in the process of hiring bankers to oversee the share sale, as reported by someone familiar with the matter to VCCircle.

Piramal-Bain's India Resurgence Fund in talks for stake in pharma player

VCCircle

VCCircle · 1y ago

Piramal-Bain's India Resurgence Fund in talks for stake in pharma player

India Resurgence Fund, a joint venture between Piramal Group and Bain Capital, is in discussions to acquire a stake in an Indian active pharmaceutical ingredient (API) company. Managed by Shantanu Nalavadi, IndiaRF is an investment platform for distressed assets. The fund recently achieved a full exit from its initial investment and is now seeking opportunities within the pharma sector.

Alpha Alts bets on Mumbai asset via real estate platform

VCCircle

VCCircle · 2m ago

Alpha Alts bets on Mumbai asset via real estate platform

Alpha Alternatives, a Mumbai-based multi-asset manager, has acquired a property in Thane, Maharashtra through its real estate investment platform. This acquisition is in partnership with Peninsula Land and Delta Corp. The firm, led by former Edelweiss executive Naresh Kothari, launched a Rs 765-crore ($89.6-million) real estate investment platform with Peninsula Land in May last year, highlighting plans for strategic real estate investments.

Grapevine: Piramal Alternatives moves closer to setting up FoF; Z47 eyeing multiple exits

VCCircle

VCCircle · 10m ago

Grapevine: Piramal Alternatives moves closer to setting up FoF; Z47 eyeing multiple exits

- Piramal Alternatives, a unit of Piramal Group, is setting up a $200 million fund-of-funds strategy to support PE and VC firms. - The fund will be backed by Indian billionaire entrepreneur Ajay Piramal. - Z47, formerly known as Matrix Partners India, is planning multiple exits, according to Avnish Bajaj, the founder and managing director of the company. - Piramal Alternatives' fund will focus on backing both private equity and venture capital firms. - The initial corpus of the fund is expected to be around $200 million.

MO Alts picks up majority stake in API maker Megafine Pharma

VCCircle

VCCircle · 5m ago

MO Alts picks up majority stake in API maker Megafine Pharma

Motilal Oswal Alternates (MO Alts) has acquired a majority stake in Megafine Pharma, an API manufacturer, for Rs 460 crore. This acquisition marks MO Alts' first investment of the year. Megafine, based in Mumbai, operates FDA-approved facilities in Nashik and Vapi and specializes in niche APIs for chronic therapies. MO Alts aims to enhance Megafine's R&D and manufacturing capabilities. Megafine posted net sales of Rs 322 crore in 2023-24, with Rs 34.9 crore net profit.

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