Private Equity

PE Fund Investments

Ophthalmology player Sunways raises Rs.120-Cr from InvAscent

Economic Times  

Life sciences and healthcare-focused private equity firm InvAscent has picked up a minority stake in Sunways India for INR 120 crore (USD 15 million) from its India Life Sciences Fund III (ILSF-III). Mumbai-headquartered Sunways specialises in manufacturing and marketing ophthalmology formulations. It will use the capital for capacity addition, international expansion and acquisitions. Founded in 1951 by Kantilal Shroff, Sunways exports to over 10 countries. Orbit Financial Capital was the exclusive financial adviser for Sunways for the deal.