Motilal Oswal and InvAscent Invest US$100 Million in Symbiotec Pharmalab, Acquire 70 Percent Stake from Actis
Posted On: 18 Dec 2018 | Source(s): Motilal Oswal Private Equity, VCCircle | Author(s): Joseph Rai
India-focused alternative investment fund managers Motilal Oswal Private Equity (MOPE) and InvAscent have reportedly invested US$100 million in Symbiotec Pharmalab, an India-based pharmaceutical ingredient manufacturer. The transaction included the acquisition of a 70 percent stake in Symbiotec from global growth markets investor Actis, as well as a primary equity investment. MOPE invested through India Business Excellence Fund III. Actis originally invested approximately US$48 million in Symbiotec in 2013.