India Venture Advisors backs drugs manufacturer
India Venture Advisors, the healthcare and life sciences-focused private equity fund founded by Ajay Piramal and former State Bank of India (SBI) chairman A K Purwar, has invested INR700 million ($13.8 million) in drug manufacturer Vardhman Chemtech.
Purwar confirmed the investment, which takes the form of convertible preference shares, to VCCircle. Vardhman Chemtech is an integrated manufacturer of bulk drugs, intermediates and fine chemicals. The...
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