Private Equity

PE Fund Investments

InvAscent invests Rs.110-Cr in API maker Fleming Labs

Advisor Release  

InvAscent, through India Life Sciences Fund IV (ILSF IV), has invested INR 110 crore to acquire a minority stake in Fleming Laboratories, a Hyderabad-based active pharmaceutical ingredient (API) player focused on select muscle relaxant, anti-arthritis, and antihistamine APIs. Veda Corporate Advisors was the exclusive financial advisor to the company and its promoters. With two regulatory-approved manufacturing units, the company sells to customers in over 65 countries across Latin America, Europe, Asia, and MENA. The new primary investment will help the company build its 3rd manufacturing unit and support its foray into Fermentation-based API manufacturing. Professional turned entrepreneurs Jeyamuruga Prakash (CEO & Managing Director) and B Shivakumar had picked up a controlling stake in Fleming Laboratories in 2015 and have turned it into a growing, debt-free, and profitable business.