IndiaRF to acquire Ind-Swift Labs API, CRAMS business for Rs 1650 crores

Commenting on the transaction, Shantanu Nalavadi, Managing Director of IndiaRF, said, “IndiaRF is excited about the transformation potential of Ind-Swift. Ind-Swift has a strong market presence and competitive cost position. We believe the business needs the necessary capital infusion for it to acquire scale and move upwards in the growth trajectory. We are committed to invest further primary capital into the businesses to expand capacity on back of growth from newer geographies and investment in new product development across both API and CRAMS, to provide a larger portfolio of products to its customers.”

N R Munjal, Chairman and Managing Director of Ind-Swift on this occasion said “Ind-Swift is amongst the largest independent API players in India and has had the track recording of developing API molecules with customer centric approach and has created high quality facilities. We are delighted that IndiaRF, which has a pedigree and track record in transforming businesses across varied sectors, will support and invest in the growth of the business. We are grateful to our team and wish them the best to scale the business to newer heights under the IndiaRF’s stewardship.”

PwC acted as the exclusive financial advisor to Ind-Swift on this transaction.

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