Saimirra Innopharm secures Rs 160 Cr from Piramal Alternatives for growth push

The funding will be used to support Saimirra’s growth strategy, which includes brand acquisitions and entry into new therapeutic areas across domestic and international markets.

Apr 29, 2025 - 11:42

Saimirra Innopharm secures Rs 160 Cr from Piramal Alternatives for growth push

Piramal Alternatives, the fund management arm of the Piramal Group, has invested Rs 160 crore in Chennai-based pharmaceutical company Saimirra Innopharm.

The deal was executed through Piramal’s India Credit Opportunities Fund II (PCF II), marking the third investment from the sector-agnostic vehicle.

The infusion will be used to support Saimirra’s growth strategy, which includes brand acquisitions and entry into new therapeutic areas across domestic and international markets, the company said in a statement.

“We are excited to partner with Saimirra’s strong management team in their growth journey,” said Kalpesh Kikani, CEO of Piramal Alternatives. “Saimirra’s diversified product profile, focus on R&D, and commitment to regulatory standards across domestic and ROW markets present a compelling investment opportunity for us.”

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Saimirra Innopharm operates in both domestic and international pharmaceutical markets. Its ROW (Rest of the World) division supplies more than 275 products across 70 countries and manages. The domestic business, branded under Delvin Formulations, includes more than 20 brands sold through a wide distribution network and supported by a team of medical representatives.

“We are delighted to have Piramal Alternatives as a growth partner,” Jayaseelan said. “This investment marks a significant milestone for Saimirra and will enable us to expand into new therapeutic areas, strengthen our product offerings, and enhance our R&D pipeline. With this capital infusion, we are well-positioned to further scale our presence in both domestic and international markets, while continuing to deliver innovative and high-quality solutions to our customers.”

PCF II targets mid-market corporates with a typical investment horizon of three to four years. Its predecessor fund, with a corpus of $300 million, has been fully deployed across 17 investments, with more than half already exited.

Piramal Alternatives manages over $1.5 billion in assets and has partnered with institutional investors such as Canada Pension Plan Investment Board, IFC, and Bain Capital. The firm offers tailored capital solutions across the debt and equity spectrum and is active in business transformation, turnaround, and growth financing.

Edited by Megha Reddy