MO Alternate Investment Advisors (MO Alts) has agreed to invest up to INR 460 crores for a majority stake in Mega Fine Pharma (Megafine).The Sanghvi Family, one of the founding-promoter groups, has also participated in this transaction, increasing their stake in the Company.
Megafine, established in 1995, is an export-focused Active Pharmaceutical Ingredient (API) company based in Mumbai. It operates two USFDA-approved manufacturing facilities in Nashik and Vapi and specialises in manufacturing high-value, low-volume niche APIs for chronic therapies. The company is backward integrated to manufacture its own intermediates and also offers contract manufacturing services for APIs and intermediates.
Shailesh Sanghvi, Founder, Promoter, and now Managing Director of Megafine, stated, “Our focus remains on delivering high-quality products as an independent API supplier in specialised and niche segments. With our manufacturing facilities approved by all major global regulatory authorities, we are committed to excellence. We look forward to partnering with the MO Alts’ team as we embark on the next stage of growth. Their practical approach and deep expertise in life sciences will be instrumental in transforming Megafine into a long-lasting institution, as they have successfully demonstrated in several growth-stage franchises.”
Rohit Mantri, Managing Director and Co-Head of Private Equity at MO Alts, said, “India’s API industry is witnessing a double-digit growth, driven by increased outsourcing, lower costs, and de-risking of global supply chains from China. This is our first sole control investment as MO Alts, and we would focus on further strengthening R&D and manufacturing capabilities and creating a platform for further inorganic opportunities. We also thank the Jhaveri and Gandhi families, who have been instrumental in building the Megafine franchise for over three decades, and are very excited to partner with Shailesh and the Megafine management team to build a large and differentiated API company.”
As per the release, Megafine and its shareholders were advised by Deloitte (financial advisor), JSA (legal), and Pioneer (legal) on the transaction. Quillon Partners (legal), Alvarez & Marsal (financial), PWC (tax), and MP Advisors (commercial) advised MO Alts.