Healthcare & Life Sciences
VedaCorp advises Malladi Drugs, a leading pharma API & CDMO player on its INR 2,500 Mn fund raise
About
Malladi Drugs
Malladi Drugs and Pharmaceuticals Limited is engaged in the business of manufacturing & selling of API’s and Intermediates & Contract Development of drug products. The company is headquartered in Chennai and has 3 FDA approved manufacturing facilities located in Ranipet and Tirupati. It also has a state-of-the-art R&D Centre based out of Chennai, which is among the best in the industry. The company’s strong process development capabilities have helped the company work with global marquee clients as part of their product development and contract manufacturing business.
InvAscent
InvAscent is the investment advisor to a family of funds that operate under the name “India Life Sciences Fund” or ILSF. ILSF has so far raised USD 500 Mn from global investors and deployed the same in the Indian Life Sciences Sector.
Its investments span industries such as Pharma, Healthcare Delivery, Medical Devices and Animal Health within this sector. The investment team at InvAscent has deep domain expertise and a track record of value creation in the Life Sciences Sector.
Background
We are pleased to announce that our client, Malladi Drugs and Pharmaceuticals Limited (“Malladi”), has raised INR 2,500 Mn for a minority stake from India Life Sciences Fund, a leading Health Care and Life Sciences focussed mid-market Private Equity Fund. The funds raised would be used for capacity expansion and launching new molecules.
Founded by Mr. M.L.N Shastry in 1980, the Chennai-headquartered 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.
Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to the Company and its Promoters. VedaCorp provided comprehensive transaction advisory services covering identification of prospective investors, strategic positioning including deal structuring, negotiation of key commercial terms, leading to the successful closure of the transaction.
“The VedaCorp team guided us through the entire transaction process, advising us on choosing a partner best suited to our requirements, and in ensuring smooth and timely completion of the transaction. We believe that InvAscent’s deep understanding of the Pharma API & CDMO space and its track record as a value-adding investor will make this a mutually beneficial partnership”
Prashant Malladi
Chairman & S Shreya, Managing Director – MDPL
“We thank VedaCorp for facilitating ILSF’s investment in Malladi. ILSF is very happy to partner with Malladi, which is poised to grow rapidly, driven by its fermentation expertise, its global leadership in certain APIs, its exciting pipeline of products and the strong relationships it has nurtured with its global customers”
TP Devarajan
Senior Managing Director - InvAscent
“We sincerely thank the Malladi family for choosing us as their trusted advisor and we are confident that this partnership with InvAscent will propel the company to greater heights”
C Venkat Subramanyam
Founder - Veda Corporate Advisors
“Malladi drugs has demonstrated consistent growth in product portfolio & client relationships over the last decade. The company is in the midst of an exciting phase of developing new products and this capital infusion will enable it to scale faster in the coming years”
S Ganapathiraman
Director - Veda Corporate Advisors