Parikh family sells ZCL Chemicals to Advent for ₹2,000 crore thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
On Tuesday, private equity firm Advent International acquired the entire stake in the company
In 2008, when FMCG major Emami Group took over Zandu Pharmaceuticals from Mumbai-based Parikh family, 22-year-old Nihar Parikh decided to buyback Zandu Chemicals, a subsidiary, and carve it out into a separate firm. Little did he know that his initial investment of ₹12.5 crore would multiply 160 times to fetch him a whopping ₹2,000 crore in just 12 years.
On Tuesday, private equity firm Advent International acquired the entire stake in ZCL Chemicals Ltd (formerly known as Zandu Chemicals Ltd) for about ₹2,000 crore, a move that also marked the exit of Morgan Stanley Private Equity Asia (MSPEA), which also sold its 19 per cent stake in the company.
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
Source credit: Shutterstock
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.