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Motilal Oswal Alternate Investment Advisors Private Limited (MO Alts) has agreed to invest upto Rs 460 crore for a majority stake in Mega Fine Pharma Private Limited. The Sanghvi Family, one of the founding-promoter groups, has also participated in this transaction, increasing their stake in the company.
Megafine is a Mumbai based export focused API company with two USFDA approved manufacturing facilities in Nashik and Vapi. The company specialises 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. The company has long-standing relations with leading global pharmaceutical companies and has achieved global market leadership in some of its key APIs.
Shailesh Sanghvi, Founder, Promoter and now Managing Director of Megafine stated, “Our focus remains on delivering high-quality products as an independent API supplier in specialized and niche segments. 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, Managing Director 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 R&D and manufacturing capabilities and creating a platform for further inorganic opportunities."
Megafine and its shareholders were advised by Deloitte (financial advisor), JSA (legal) & Pioneer (legal) on the Transaction. Quillon Partners (legal), Alvarez and Marshall (financial), PWC (tax) & MP Advisors (commercial) advised MO Alts.
