Mumbai: Private equity firm Actis Llp on Tuesday said it invested $48 million in Indore-based steroids maker Symbiotec Pharmalab Ltd for a significant stake.

Over the past decade, Symbiotec has emerged as a specialist producer of steroid-hormone active pharmaceutical ingredients.

These active ingredients are used by the company’s customers to manufacture medications for treating inflammation, asthma, dermatology, immune functions and infertility.

“With its United States Food and Drug Administration(USFDA) approved facilities and high quality products with Asian cost manufacturing advantages, it is on track to become a leading global player," said J.M. Trivedi, partner and head of South Asia at Actis, in a statement.

Infrastructure Development Finance Company (IDFC) Capital acted as exclusive adviser to Symbiotec on the deal.

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