Kotak Alts Injects ₹1,050 Crore into Tirupati Medicare, Fuels Expansion

Kotak Alternate Asset Managers has invested Rs 1,050 crore in Tirupati Medicare, facilitating the pharma company's growth and offering a complete exit for previous investors. Tirupati, established in 2005, is prominent in the nutraceutical manufacturing sector and plans significant domestic and export market expansions.

Kotak Alternate Asset Managers revealed a major investment of Rs 1,050 crore in Tirupati Medicare, aiming to bolster the pharmaceutical company's growth trajectory. This strategic move provides a full exit to prior investor Affirma Capital, per the company's statement.

Tirupati Medicare, founded in 2005, has emerged as a leading player in the nutraceutical contract manufacturing industry, catering to renowned clients such as Herbalife, Glanbia, Abbott, and Pfizer. Kotak Alternate Asset Managers' Managing Director Eshwar Karra highlighted the company's established reputation.

Partner Rahul Shah emphasized the company's readiness for significant expansion in Indian markets and its upcoming entry into international markets. Director and CEO Ashok Goyal noted a strategic pivot towards product innovation and excellence, with Kotak Alts expected to facilitate further inorganic growth under Founder Dinesh Goyal's guidance.

(With inputs from agencies.)