PE Fund Investments
Malladi Drugs raises Rs.250-Cr from InvAscent
Chennai-based Malladi Drugs and Pharmaceuticals Ltd has raised INR 250 crore for a minority stake from InvAscent managed India Life Sciences Fund. The new funds would be used for capacity expansion and launching new molecules. Veda Corporate Advisors was the exclusive financial advisor to the company and its promoters. Founded by M.L.N Shastry in 1980, Malladi is a pioneer in the use of fermentation technology for API manufacture and is a world leader in select molecules used in the cold and cough segment. It also has a strong presence in the "contrast media" business. The company sells to customers in over 60 countries across Americas, Europe, Asia, and MENA. The company has 3 FDA approved manufacturing facilities located in Ranipet and Tirupati.
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