Advent International to purchase ZCL Chemicals for Rs 2000 crore

He further said, 'ZCL has emerged as India's fastest growing pharmaceutical company in the last 12 years. We are excited to achieve this strategic outcome for ZCL and its investors through this divestment. We are confident that Advent's resources will be a catalyst for ZCL's next stage of growth and innovation.'

The exit results in a 160 times return in 12 years at the current valuations of Rs 2,000 crore, the statement said.

As part of the agreements, out of the 80 per cent holding of the founder and promoters, 26 per cent will be transferred subject to the customary closing conditions and receipt of all applicable regulatory approvals, it added.

Mumbai-headquartered ZCL has a USFDA-approved facility at Ankleshwar in Gujarat. The company is a 100 per cent export oriented unit, with over 90 per cent of revenue from established markets like Europe and North America, the statement said.