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Parikh family sells ZCL Chemicals to Advent for Rs 2K cr By IANS | Published on Thu, Mar 11 2021 16:57 IST | 0 Views Rupees.. Image Source: IANS News New Delhi, March 11 : The Parikh family, founder and promoter of ZCL Chemicals Limited (ZCL), announced on Thursday that it has sold the entire stake in the company to Advent International, one of the largest private equity investors, for an equity value of Rs 2,000 crore. Pusuant to the signing of definitive agreements last month, the Parikh family sold its entire 80 per cent holding to completely exit ZCL. Of the above, 26 per cent will be transferred subject to the customary closing conditions and receipt of all applicable regulatory approvals. ....
Zandu Chemicals Limited sold to Advent for Rs 2000 cr By IANS| Updated: 11th March 2021 6:13 pm IST New Delhi: The Parikh family, founder and promoter of ZCL Chemicals Limited (ZCL), announced on Thursday that it has sold the entire stake in the company to Advent International, one of the largest private equity investors, for an equity value of Rs 2,000 crore. Pusuant to the signing of definitive agreements last month, the Parikh family sold its entire 80 per cent holding to completely exit ZCL. Of the above, 26 per cent will be transferred subject to the customary closing conditions and receipt of all applicable regulatory approvals. ....
On Tuesday, private equity firm Advent International acquired the entire stake in the company In 2008, when FMCG major Emami Group took over Zandu Pharmaceuticals from Mumbai-based Parikh family, 22-year-old Nihar Parikh decided to buyback Zandu Chemicals, a subsidiary, and carve it out into a separate firm. Little did he know that his initial investment of ₹12.5 crore would multiply 160 times to fetch him a whopping ₹2,000 crore in just 12 years. On Tuesday, private equity firm Advent International acquired the entire stake in ZCL Chemicals Ltd (formerly known as Zandu Chemicals Ltd) for about ₹2,000 crore, a move that also marked the exit of Morgan Stanley Private Equity Asia (MSPEA), which also sold its 19 per cent stake in the company. ....
Advent International acquires majority stake in ZCL Chemicals Advent International acquires majority stake in ZCL Chemicals 10 February 2021 | News ZCL is one of the fastest growing manufacturers of specialty active pharmaceutical ingredients (APIs) and advanced intermediates Source credit: Shutterstock Advent International, one of the largest and most experienced global private equity investors, announced that it has signed a definitive agreement to acquire a majority stake in ZCL Chemicals Limited, one the fastest growing pharmaceutical companies in India. The business was formerly known as Zandu Chemicals Ltd. With this transaction, Morgan Stanley Private Equity Asia (MSPEA), a private equity platform that previously managed a minority investment in ZCL, will exit their investment. ....