Private Equity

Angel Investments

Pharma co Granules India denies reports of co being sold to PE investors

Mint  

Pharmaceutical company Granules India has clarified that the reports that were floating in social media of the company being sold to some PE (private equity) investors are 'false and malicious'. Granules India is based in Hyderabad, India, and is involved in manufacturing several off-patent drugs like Paracetamol, Ibuprofen, Guaifenesin and Metformin. For the financial year ended March this year, the company posted a net profit of INR 549 crore as against INR 335 crore for the previous financial year.