Motilal Oswal Alternates invests Rs 460 crore in API firm

Motilal Oswal Alternate Investment Advisors, a subsidiary of MO Financial Services, is investing up to Rs 460 crore for a majority stake in Megafine Pharma.

The Sanghvi family, one of the founding promoter groups, also participated in the transaction, increasing their stake in the company, says a company statement.

Megafine and its shareholders were advised by Deloitte (financial), JSA (legal) & Pioneer (legal) on the transaction.

Megafine is a Mumbai based export-focused API company with two USFDA approved manufacturing facilities in Nashik and Vapi. The company specializes in the manufacture and sale of a diverse range of high-value, low-volume niche active pharmaceutical ingredients (APIs) for chronic therapies.

Established in 1995, Megafine is backward integrated to manufacture its own intermediates while

also offering contract manufacturing services for APIs and Intermediates to third-party customers.

Shailesh Sanghvi, founder, promoter and now MD of Megafine stated, “With our manufacturing facilities approved by all major global regulatory authorities, we are committed to excellence. We look forward to partnering with the MO Alts’ team as we embark on the next stage of growth’’.

Rohit Mantri, MD and co-head of private equity at MO Alts commented, “India’s API industry is witnessing a double-digit growth, driven by increased outsourcing, lower costs and de-risking of global supply chains from China. This is our first sole control investment as MO Alts and we would focus on further strengthening the company's R&D and manufacturing capabilities and creating a platform for further inorganic opportunities’’.







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