Emil raises Rs.150-Cr from Somerset Indus Capital

Emil Pharmaceutical Industries, a Mumbai-based privately held contract manufacturer, has sold a minority stake to raise INR 150 crore from Somerset Indus Capital Partners. The investment is through a mix of primary (INR 120 crore) and secondary (INR 30 crore). ZADN & Associates advised Emil Pharmaceuticals The primary funds will be used for expansion and modernization of pharmaceutical formulations' capacities and increasing footprint in new markets. Emil is also looking to widen its product basket including expanding into nutraceuticals, along with looking at inorganic growth opportunities complementary to its business.