Mankind Pharma announced that one of its subsidiaries has acquired a majority stake in Upakarma Ayurveda Private Limited. Upakarma Ayurveda is a company that creates, manufactures, and sells ayurvedic and herbal products.
According to Rajeev Juneja, vice chairman and managing director of Mankind Pharma Limited, the current lifestyle has become strenuous, and people find it difficult to focus on their health. “To meet their needs, consumers are looking into Ayurvedic remedies for long-term sustenance and immunity building.” “As Mankind Pharma works to improve people’s healthcare, we have partnered with Upakarma Ayurveda to meet emerging consumer needs,” he added.
Upakarma Ayurveda hopes to expand its product and service offerings and enter the market by leveraging Mankind Pharma’s strong distribution network.
“There has been a rising consciousness around Ayurveda in recent years,” said Vishal Kaushik, founder and managing director of Upakarma Ayurveda. Upakarma Ayurveda has been establishing relationships with its customers. The team is overjoyed with this partnership and is looking forward to expanding our reach with Mankind Pharma’s support.”
Upakarma Ayurveda provides products that range from health and wellness to immunity boosting.
Mankind Pharma filed draft papers for an initial public offering with the market regulator Securities and Exchange Board of India in September (SEBI). The promoting and existing investors will sell 4 crore equity shares in the company’s initial public offering.