Corporate Updates

Shilpa Medicare receives $25.5 mn funding from US investor

Indian drug ingredients maker Shilpa Medicare Ltd has received Rs 172.425 crore ($25.5 million) from US-based private equity investor TA Associates Management Lp, acquiring 3.7 per cent stake in thecompany.


Hyderabad-based Shilpa Medicare’s board has allotted 3.025 million shares to TA Associates at Rs 570 apiece, the company said in a stock-exchange filing.

TA Associates Director Naresh Patwari will join Shilpa Medicare’s board as an additional director, a statement said.

The Hyderabad-based firm is backed by PE firms including Tano Capital, which has an 8.01 per cent stake, and Baring India, which owns a 9.22 per cent stake, in the company.


Shilpa Medicare makes ingredients that are used to make anti-cancer drugs and anti-retroviral drugs. The firm also makes active pharmaceuticals ingredients for drugs used totreat multiple sclerosis, immunosuppressant and is building a pipeline of novel drug delivery systems and biotech products, according to the company website.

Follow and connect with us on Facebook, Twitter, LinkedIn, Elets video

Eletsonline News

Follow us on

Most Popular

200000+ Subscribers read it every day.
Subscribe Newsletter
To Top