Kedaara to acquire 20% stake in Olive PharmaScience for $100-M: report

Kedaara Capital Investment Managers is the frontrunner to acquire a 20% stake in Mumbai-based Olive PharmaScience for USD 100 million in a deal that values the company at about INR 4,500 crore. The transaction is expected to be primarily secondary in nature. The deal is currently undergoing due diligence. Motilal Oswal Private Equity and Quadria Capital have also evaluated the asset.Founded by Jigar Shah, Kamlesh Shah, and Hardik Shah, Olive PharmaScience manufactures customised pharmaceuticals, over-the-counter products, and dietary supplements, with a focus on soft gelatin dosage forms. The company operates three manufacturing facilities in India.