Venture Capital
Private Equity

Private Equity | 16 December 2010    1 Comment

Paras Pharma's Promoter Girish Patel Plans PE Fund

by Irfan Khan
Paras Pharma's Promoter Girish Patel Plans PE Fund
Share on Social Media Email Facebook Twitter Linkedin

After selling @Reckitt_Benckiser_He to Reckitt Benckiser few days back, promoter of the company Girish Patel is planning to launch a private equity fund to help small, family run businesses transform into professionally-run companies.

Besides, the PE fund, Patel wants to set up a company for his son Arpit, an MBA from the US.

Paras Pharma owns brands like Moov, DermiCool, D'Cold and Krack with revenues of Rs.401.4 Cr and an EBITDA of Rs.108.3 Cr.

Private equity investor @Actis_Capital sold its 63% stake in Paras to Reckitt. Others, including Girish Patel and his family who hold about 30% stake and Sequoia Capital also sold their stake.

Girish Patel's father Naranbhai Patel started Paras Pharma in 1983 with 11 peple and within two years of its launch, his sons Girish, Darshan and Devendra joined the family business. The turnover of Paras was just around Rs 40 lakh then. After 25 years, its sales crossed Rs.400 Cr during 2009-10 and employs over 700 people.

As soon as the brothers joined the business, the company launched Moov. Witin a decade, they launched two more brands, Krack and D'Cold and then came ItchGuard, RingGuard, Dermicool and Stopache as well as personalcare brands like Borosoft, Livon and Recova.

By 2000, Paras started planning for an IPO, but then dropped plans for IPO after getting an offer from private equity fund Actis in 2006. Actis acquired 23% stake in the company for $43 Mn. He then cracked a deal with @SequoiaCapIndia for investing another $12 million in Paras Pharma in October the same year. Actis later increased its shareholding to 68%.

Reference: TOI

Spain's BBVA To Acquire 51% In Bank Of Baroda's Credit Card Arm Bobcards

Spain's BBVA To Acquire 51% In Bank Of Baroda's Credit Card Arm Bobcards

Spanish Bank Banco Bilbao Vizcaya Argentaria (BBVA) is set to acquire 51% stake in Bank of Baroda’s (BoB) credit card arm Bobcards Limited for Rs.205 Cr ($45 Mn).The venture is subject to Reserve Bank of India (RBI) and Bank ...


Navayuga Plan To Sell Stake In Its Power Assets

Navayuga Plan To Sell Stake In Its Power Assets

Hyderabad-based CVR Group unit Navayuga Power may sell stake in its power assets to Toshiba, Sumitomo, Mitsubishi & GDF Suez. The deal Value expected to be in between INR 13,800 to 14,400 Mn for equity stake 49 to 51%.

DealCurry Timeline
TL Home Search New Keet
A 314, 3rd Floor, AntopHill Warehousing Company,
Near Dosti Acres
Mumbai 400037
Copyright © EagleEye Research & Media Pvt. Ltd. 2009 All Rights Reserved - Interactive multimedia analysis platform for financial markets.
Site map |Terms of Use |Privacy Policy
DealCurry tracks financial and corporate markets for events, interprets and integrates the information in our platform, providing premium data, news and analytics. DealCurry provides comprehensive coverage of the capital markets through an intuitive, user-friendly interface.