Piramal Alternatives Invests INR 160 Cr in Chennai-Based Saimirra Innopharm The capital will be deployed to accelerate Saimirra's growth strategy, including brand acquisitions and expansion into new therapeutic segments across both domestic and international markets.
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Piramal Alternatives, the fund management arm of Piramal Group, has invested INR 160 crore in Chennai-based pharmaceutical company Saimirra Innopharm through its India Credit Opportunities Fund II (PCF II). This marks the third investment from the sector-agnostic fund.
The capital will be deployed to accelerate Saimirra's growth strategy, including brand acquisitions and expansion into new therapeutic segments across both domestic and international markets.
"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."
Founded in April 2001 by V.S. Raman—who is also the founder of the ARL group—Saimirra Innopharm operates as a pharmaceutical business group focused on R&D, manufacturing, marketing, and quality control of APIs, formulations, and healthcare products.
Saimirra has a robust presence in both domestic and global markets. Its Rest of the World (ROW) division supplies over 275 products to 70 countries. Domestically, it operates under the Delvin Formulations brand, with over 20 brands marketed through an extensive distribution network and a field force of medical representatives.
"We are delighted to have Piramal Alternatives as a growth partner," said Jayaseelan, Managing Director of Saimirra Innopharm. "This investment marks a significant milestone and will help us scale our operations, expand therapeutic offerings, and strengthen our R&D pipeline."
Piramal's PCF II typically targets mid-market corporates with a 3–4 year investment horizon. The fund's predecessor deployed USD 300 million across 17 investments, with over half successfully exited. Piramal Alternatives manages over USD 1.5 billion in assets, partnering with global investors including CPPIB, IFC, and Bain Capital.
