While RBI’s order does not mention why such a radical action was taken against the company, Moneycontrol has learned that RBI was miffed with Paytm Payments Bank’s non-compliance with regulatory requirements.
Advent International acquires majority stake in ZCL Chemicals
Advent International acquires majority stake in ZCL Chemicals
10 February 2021 | News ZCL is one of the fastest growing manufacturers of specialty active pharmaceutical ingredients (APIs) and advanced intermediates
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Advent International, one of the largest and most experienced global private equity investors, announced that it has signed a definitive agreement to acquire a majority stake in ZCL Chemicals Limited, one the fastest growing pharmaceutical companies in India. The business was formerly known as Zandu Chemicals Ltd.
With this transaction, Morgan Stanley Private Equity Asia (MSPEA), a private equity platform that previously managed a minority investment in ZCL, will exit their investment.