Active Stocks
Tue Mar 19 2024 13:11:02
  1. Tata Consultancy Services share price
  2. 4,014.70 -3.14%
  1. Tata Steel share price
  2. 150.15 0.37%
  1. Bharti Airtel share price
  2. 1,229.45 0.36%
  1. Power Grid Corporation Of India share price
  2. 261.00 -1.51%
  1. ITC share price
  2. 409.85 -1.81%
Business News/ Companies / News/  Mauritius-based PE firm invests 250 crore in Shriji Polymers
BackBack

Mauritius-based PE firm invests ₹250 crore in Shriji Polymers

The company's manufacturing units are located in India, the US, and China. The deal signifies the interest of private equity players in this pharma allied industry of packaging, given India’s cost advantage and policy to boost manufacturing

Shriji’s product portfolio includes high-density poly ethylene bottles, polypropylene caps and other speciality products.Premium
Shriji’s product portfolio includes high-density poly ethylene bottles, polypropylene caps and other speciality products.

NEW DELHI: Malaysia-based private equity firm Creador, managing assets worth $1.5 billion, has invested 250 crore in Indian pharmaceutical packaging firm Shriji Polymers (India) Ltd.

Shriji’s product portfolio includes high-density poly ethylene bottles, polypropylene caps--both continuous thread and child resistant--and other speciality plastic products such as derma bottles, tablet applicators, dosing cards and self-administered metered dosing devices.

The company's manufacturing facilities are located in key markets across India, the US, and China.

The deal signifies the interest of private equity players in this pharma allied industry of packaging, given India’s cost advantage and policy makers’ efforts to boost domestic manufacturing.

“With this investment, Creador acquires what it called a 'significant minority stake' in the company, buying out existing domestic and international institutional investors through its affiliate Sundara (Mauritius) Ltd," Anand Narayan, managing partner – Creador Advisors India LLP, said in a statement.

The quantum of stake acquired was not detailed.

This is also in line with Prime Minister Narendra Modi's call for Atmanirbhar Bharat

“We will continue to make significant investments in India supported by the recent government initiatives of 'Make in India' catering to domestic and exports," Anand Bangur, founder and managing director of Shriji said.

Prime Minister Modi in May had remarked that self-reliance will prepare the country for tough competition in the global supply chain, and it is important that India wins this competition during the health crisis.

“Partnership with Creador provides us a significant opportunity to accelerate our growth plans including adding new valued-added products, continued focus on import substitution, expansion of geographic footprint and diversification of customer base", Shriji co-founder and joint managing director Vishnu Jajoo said.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 31 Aug 2020, 10:23 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie