🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
Piramal Enterprises hit with $172 mn tax bill for pharma deal
VCCircle
·
4m ago
Medial
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.
View Source
1
Related News
Piramal to focus on brownfield expansion, cut debt before acquisitions
Livemint
·
1y ago
Medial
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.
View Source
Razorpay’s ‘reverse flip’ to India may entail $300 million tax payment in US
Economic Times
·
1y ago
Medial
Razorpay's plan to reunite with its US parent could result in a tax bill of up to $300 million. The Indian digital payments startup is in talks with the parent company to merge its operations, and the deal could potentially fetch a hefty tax liability.
View Source
After Aditya Birla, Piramal to merge with private arm
Livemint
·
1y ago
Medial
Piramal Enterprises Ltd has announced its decision to merge with its subsidiary Piramal Capital & Housing Finance Ltd, following in the footsteps of the Aditya Birla Group. The merger is set to be completed in nine to 12 months and will result in the formation of a new company named Piramal Finance. This move will allow Piramal Capital to avoid a mandatory public share sale and comply with RBI regulations. The merger is still subject to approval from regulators, shareholders, creditors, and the National Company Law Tribunal.
View Source
Piramal Alternatives invests $13.2 mn in contract drugmaker Biodeal
VCCircle
·
1y ago
Medial
Piramal Alternatives, the fund management arm of Piramal Group, has invested $13.2 million in Biodeal Pharmaceuticals, a contract drugmaker. The investment will be used to enhance infrastructure, expand operations, and establish a dedicated nutraceutical manufacturing facility. Biodeal aims to be ready with a new facility compliant with USFDA accreditations in the next 12-15 months. This capital infusion will also help increase production capacity and introduce innovative solutions, including nasal sprays as drug delivery systems. Piramal Alternatives manages $1.5 billion and specializes in addressing credit gaps in India's mid-market segment.
View Source
Advent-owned Suven Pharma to buy majority stake in NJ Bio for $64 mn
VCCircle
·
7m ago
Medial
Indian contract development and manufacturing organization (CDMO) Suven Pharma, owned by private equity firm Advent International, is set to acquire a majority stake in US-based NJ Bio for $64.4 million. Suven Pharma will purchase a 56% stake in NJ Bio, a technology-driven CDMO specializing in complex drug modalities, at a pre-money valuation of $100 million. The deal will involve a combination of primary and secondary investments, with Suven paying $49.4 million to buy out existing minority shareholders and infusing $15 million in primary equity. The transaction is expected to close this month.
View Source
Piramal-Bain's India Resurgence Fund in talks for stake in pharma player
VCCircle
·
11m ago
Medial
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.
View Source
Trouble For Big Techs? MCA Invites Public Feedback On Draft Digital Competition Bill
Inc42
·
1y ago
Medial
The Ministry of Corporate Affairs in India has sought public feedback on a draft Digital Competition Bill, which aims to regulate the practices of big tech companies and other significant digital enterprises. The bill recommends the creation of a Digital Competition Act to enable the Competition Commission of India to regulate large digital entities. Other recommendations include the establishment of quantitative thresholds for designating systemically significant digital enterprises, the obligation for transparent grievance redressal mechanisms, and the empowerment of the Centre to exempt certain enterprises from the bill. The bill also imposes various obligations on big tech companies, such as ensuring cybersecurity and compliance with local laws.
View Source
Bangladesh accuses Adani Power of breaching multi-billion-dollar energy deal: Report
Livemint
·
6m ago
Medial
Bangladesh's interim government has accused Adani Power, an Indian energy supplier, of breaching a multi-billion-dollar deal by withholding tax benefits from a power plant involved in the agreement. Bangladesh hopes to renegotiate the deal, but the exact amount owed and the size of the bill are disputed. Adani Power has denied any wrongdoing and stated it has fulfilled all contractual obligations. Bangladesh aims to utilize a US corruption investigation into Adani Power to push for a resolution. The power plant's tax exemption is part of the ongoing dispute between the two parties.
View Source
Paventsone VC raises nearly $100 mn in maiden outing
VCCircle
·
8m ago
Medial
Hyderabad-based venture capital firm Pavestone VC has closed its maiden fund, Pavestone Technology Fund, with a corpus of $97 million. The fund received commitments from large family offices and domestic and international institutional investors, including the Self-Reliant India (SRI) Fund and the family office of Mankind Pharma promoters. Pavestone VC focuses on investing in early- and growth-stage companies that solve problems for large enterprises in the B2B space and also selectively invests in early-stage companies in advanced technologies. The firm has already invested in five companies and aims to build a portfolio of about 18 companies.
View Source
Pharma packaging firm Ansapack makes acquisition in folding carton business
VCCircle
·
1y ago
Medial
Pharma packaging firm Ansapack has made its third acquisition by striking a strategic deal with an offset printing and services provider. This acquisition comes after Ansapack's previous purchase of a pharma flexibles manufacturing facility in Sikkim. The Mumbai-based company specializes in providing packaging solutions for the pharmaceutical industry.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in
