Reuters – Private equity firm Actis said on Tuesday it invested $48 million in Indian pharmaceuticals company Symbiotec Pharmalab Ltd for a significant stake.
Symbiotec is a leading specialist producer of steroid- hormone active pharmaceutical ingredients and has over 200 customers, including large multinationals as well as generic pharmaceutical companies, Actis said in a statement.
Actis, which manages $5 billion globally, invests mostly in emerging markets.
Private equity investments in India fell about 67 percent in the September quarter from a year earlier to about $1.3 billion over 75 deals, according to early data from Venture Intelligence.
IDFC Capital, a unit of IDFC Ltd advised Symbiotec on the deal, the statement said. (Reporting by Indulal PM; Editing by Prateek Chatterjee)