ChrysCapital Increases Stake in Torrent Pharma (Asia)

Source: VCCircle  |  Author(s): Lohit Jagwani

India-focused investment firm ChrysCapital has invested INR700 million (approximately US$12 million) to increase its stake in India-based drug maker Torrent Pharmaceuticals from 1.9 percent to 2.6 percent. Torrent Pharmaceuticals, which is a subsidiary of diversified industrial conglomerate Torrent Group, recently received regulatory approval to acquire the domestic formulation business of Elder Pharmaceuticals for INR20 billion (approximately US$330 million). ChrysCapital first invested in Torrent in late 2013.